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:
•Dillard Piggly Wiggly
•Spout Springs 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.
More than enough to spare
04/09/10 at 01:24 PM
Attention Maysville residents -
Drive about 8 miles down 98 and take your pick. Homer has 3 current financial institutions and rumor has it a 4th is coming. Now instead of the 'Worlds Largest Easter Egg Hunt" Homer can claim to be the worlds smallest town with the most banks.
Clarkesville GA in Habersham County has a population of 1473 People. We Also have 7 Banks in this tiny Town. Two (2) Community Bank & Trust, Habersham Bank, Southern Bank & Trust, Regions Bank, United Community Bank, and Habersham Federal Credit Union in this tiny town.
Yes Tom, Clarkesville does indeed. They also have several grocery stores, Auto Parts, Resturants, and shops. Homer with relativly the same population is claimed to fame nothing, since the "Worlds Largest Easter Egg Hunt' is defunct. But there are still 4 banks and still the worlds smallest town with the most banks.