CB&T closing some branches
Branches in Maysville and in the Jefferson Kroger are among 10 Community Bank & Trust locations to be closed in late May.
The company could not immediately say how many jobs will be lost in the closings.
“I don’t know but just two or three that will exit the company, said Bill Loyd, senior vice president. “Most of the folks will be transferred to other branches or can apply for other positions as they become open.”
The reorganization follows the February acquisition of Community Bank and Trust by South Carolina Bank and Trust through an agreement with the Federal Deposit Insurance Corp. (FDIC).
Community Bank & Trust currently has 36 locations in northeast Georgia; the move will leave it with 26.
"Our first priority is to return Community Bank & Trust to a sound and profitable bank so that we can continue to serve the financial needs of the citizens of North Georgia and at the same time offer a strong and stable work environment for our employees," said Loyd, in a company news release. "Each branch closing was carefully considered and was determined after extensive study."
Seven of the 10 offices to be closed are “supermarket banks” — branches in space leased inside of stores like the Jefferson Kroger. In Commerce, the bank has such branches in Quality Foods on the west side of town and in Ingles on the east side. There is another in the Banks Crossing Walmart.
According to the news release, the bank will retain at least one office in each of the 10 counties it serves.
Loyd said there other people “with duplicated positions” who are not at those 10 offices are also being laid off. Sources say five of those are in Commerce, but Loyd could not give a number of positions being eliminated.
The other offices being closed include:
•Cleveland South
•Toccoa Walmart
•Clayton Ingles
•Dillard Piggly Wiggly
•Bethlehem main
•Auburn Ingles
•Spout Springs Kroger
•Oakwood Kroger
“I do know there are 250 positions being kept in northeast Georgia,” Loyd said.
“Customer accounts will be transferred to the Community Bank & Trust location closest to the branch being closed, or customers can select another CBT location,” the news release said. “Additional information will be provided to account holders in the next few weeks.
“I don’t know but just two or three that will exit the company, said Bill Loyd, senior vice president. “Most of the folks will be transferred to other branches or can apply for other positions as they become open.”
The reorganization follows the February acquisition of Community Bank and Trust by South Carolina Bank and Trust through an agreement with the Federal Deposit Insurance Corp. (FDIC).
Community Bank & Trust currently has 36 locations in northeast Georgia; the move will leave it with 26.
"Our first priority is to return Community Bank & Trust to a sound and profitable bank so that we can continue to serve the financial needs of the citizens of North Georgia and at the same time offer a strong and stable work environment for our employees," said Loyd, in a company news release. "Each branch closing was carefully considered and was determined after extensive study."
Seven of the 10 offices to be closed are “supermarket banks” — branches in space leased inside of stores like the Jefferson Kroger. In Commerce, the bank has such branches in Quality Foods on the west side of town and in Ingles on the east side. There is another in the Banks Crossing Walmart.
According to the news release, the bank will retain at least one office in each of the 10 counties it serves.
Loyd said there other people “with duplicated positions” who are not at those 10 offices are also being laid off. Sources say five of those are in Commerce, but Loyd could not give a number of positions being eliminated.
The other offices being closed include:
•Cleveland South
•Toccoa Walmart
•Clayton Ingles
•Dillard Piggly Wiggly
•Bethlehem main
•Auburn Ingles
•Spout Springs Kroger
•Oakwood Kroger
“I do know there are 250 positions being kept in northeast Georgia,” Loyd said.
“Customer accounts will be transferred to the Community Bank & Trust location closest to the branch being closed, or customers can select another CBT location,” the news release said. “Additional information will be provided to account holders in the next few weeks.
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#1
Resident Redneck
on
04/02/10 at 10:48 PM
[Reply]
And I thought Obama said the Economy was getting better?
#1.1
youngcitizen
on
04/08/10 at 07:50 AM
[Reply]
I think in a sense it is getting better, because it is making us smarter. Hopefully we will learn not to keep getting by, and to stop relying so heavily on conveniences. Although this is all hard and frustrating...I have hope. We will learn and grow from all of this. So just chin up, and hang in there. I am not an Obama supporter either. Just a supporter of hope.