Pacific Financial in Aberdeen, Wash., is planning to close two branches in its home state.
The $815 million-asset company said in a press release Friday that it will close locations in Ilwaco and Ferndale in western Washington. The company noted that it had invested in online and mobile platforms in conjunction with the closures to help customers affected by the change.
"We have already made significant improvements to our mobile banking options and our sales and staffing models, and plan to tailor our branch network in concert with these changes," Denise Portmann, the company's president and chief executive, said in the release. "We continue to believe an optimized branch network plays a significant role in meeting the financial needs of our customers, and in delivering an integrated customer experience … While investing in more digital and mobile solutions, we will remain disciplined with our capital and expenses."
Portmann said the company will begin offering mobile payment options, such as Apple Pay, by the end of this year.
Pacific Financial will continue to operate 18 branches. Portmann said she expects the company to take a one-time charge of about $300,000 for closing-related costs.