Farmers will close two local branches
CANFIELD – Citing customer trends toward online banking, Farmers National Bank this fall will close two nearby branches, including one in Warren.
Farmers has given notice to federal bank regulators that on Oct. 1 it will close branches located at 2910 Youngstown Road, Warren, and 16 Walnut Street, Leetonia.
“With declining transaction counts and banking trends driving customers toward online banking offerings, the named offices are currently underutilized,” Farmers officials said in a prepared statement released Tuesday.
Bank officials pointed out the Warren branch is located two miles west of the Eastwood Mall-area branch, and the Leetonia branch is about 4.5 miles west of the Columbiana branch. Customers still will have access to a Super-ATM that will remain on the Youngstown Road Warren branch property.
Farmers did not indicate how many employees would be affected by the closures, but said the company will assist the workers in moving into other open positions in the company.
Bank officials said Farmers “remains a strong and prosperous financial institution,” and noted no additional branch closures are anticipated.
Farmers’ downsizing announcement is at least the second in recent months to come from area banks as a result of trends toward online banking.
PNC bank announced in May it would close its branch in downtown Niles effective Aug. 16. That financial institution’s spokeswoman said at the time that evaluations of customer behavior indicated that online and mobile banking has greatly reduced bank foot traffic.
PNC has other local branches in Howland and Liberty.