Park National to close 21 branches in Ohio and North Carolina
Park National in Newark, Ohio, is closing 21 branches.
The $8.7 billion-asset company said in a press release Wednesday that it will shutter branches in Ohio and North Carolina by Sept. 30. Three other branches will be converted to drive-through locations.
Park National said the closings will lower annual operating expenses by about $6.5 million. The decision reflected service-area overlap and customer use at the selected branches.
The closings represent about 18% of Park National’s branch network, based on its annual report.
“Our banks continue to add new customer relationships, but more people rely on digital banking services and our other offices to conduct their regular banking,” David Trautman, Park National’s chairman and CEO, said in the release.
“While our values and service promises remain steadfast, our branch office footprint needs to better align with customer preferences and demand,” he added.
Park National has closed 14 branches over the past five years.