BROWN DEER, WI (WTAQ) – Wisconsin’s third-largest home-based bank says it will close seven branches in the northeast and northwest parts of the state.
Bank Mutual of Brown Deer said Monday it would shut down branches in Green Bay, Brillion, Peshtigo, Eau Claire, Menomonie, Cornell, and Barron. The closures are expected to occur between April and June.
Bank Mutual says it will save $1.5 million a year, as part of what it calls an “efficiency and expense reduction effort.”
The company said it expects to keep the majority of its current deposits of $76 million — plus its loans of $26 million. It said customers would continue to be served through nearby locations and its electronic and mobile services.
Bank Mutual said many of the employees affected by the closures will be offered similar posts at the company’s other locations. It has multiple branches in 3 of the affected communities — Green Bay, Eau Claire, and Menomonie.
(Story courtesy of Wheeler News Service)
