NewBridge Bancorp (NBBC) in Greensboro, N.C., is planning to retool its retail banking operations in a move that will eliminate 5% of its work force.
The $2 billion-asset company said in a press release Monday that it would replace its traditional branch staffing model, which consists of a manager surrounded by client service representatives, with a simplified structure that revolves around client service managers who will report to local retail banking managers. Each banking manager will oversee several branches within a designated market.
NewBridge added that traditional branch operations that do not impact clients "will be centralized within the support areas of the bank" to free up its retail banking professionals to focus exclusively on client engagement.
The company also said it had also hired Laura Bailey to become retail sales manager, a newly created position. Bailey, who once was a city president for SunTrust (STI), will be responsible for integrating all marketing, sales and client support tied to retail banking.
NewBridge said that the changes, which resulted from a comprehensive review of operations, will result in an estimated 5% reduction in its work force. That would equal about 22 jobs based on the company's head count at Dec. 31.
"Our goal is to improve the versatility of our sales team while providing clients with better technology and an improved suite of products," Pressley Ridgill, the company's president and chief executive, said in the release. "Branch transactions will decline as clients complete their day-to-day banking through digital channels such as mobile banking and payments. However, in-depth conversations will increase as clients look to their retail banking professionals for trusted advice and custom financial solutions."