Branch network

The company joins a growing list of banks shuttering locations as customers flock to digital channels.

Chris Gorman, the Cleveland company's chairman and CEO, said at an industry conference that an ongoing shift to digital channels provides an “opportunity to continue to ramp up" efforts to shutter physical locations.

The Liberty Lake, Wash.-based credit union has agreed to buy four branches from the Roseburg, Ore.-based bank.

Members are completing more of their banking online than ever before, forcing many institutions to rethink their strategies for physical locations.

The company also plans to shed some corporate office space by the end of this year.

When it comes to branch cleanliness and mask-wearing, the San Francisco bank is more diligent than its rivals in helping to reduce the spread of coronavirus, according to a new study.

The deal continues Sound's push into markets north of its Tacoma headquarters.

The company said migration to digital channels spurred its decision to shutter locations across five states.

Dennis Devine will have to navigate a number of issues, including economic strife and a pandemic, as he takes the helm at the $13 billion-asset institution.

The coronavirus pandemic has forced some branches to close, but demand for in-person advice remains strong.