Multiple banking centers to close in Missouri, town reacts - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

Multiple banking centers to close in Missouri, town reacts

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People in Marquand say after the bank closes, they'll have to drive about 25 minutes to the nearest bank. People in Marquand say after the bank closes, they'll have to drive about 25 minutes to the nearest bank.
(KFVS) -

Eleven Great Southern Bank locations in Missouri are set to close by the end of October.

Six of the branches are in southeast Missouri and are located in Annapolis, Arcadia, Centerville, Lesterville, Marquand, and Piedmont.

People in Marquand say after the bank closes, they'll have to drive about 25 minutes to the nearest bank.

"We personally bank there as a family, but also as a church we bank there," Derrick Meek, a local pastor said. "So, we are going to miss it. We realize there will be one up the road at Fredericktown, but it's not going to be quite like having a hometown bank right here in town. It's going to be sad."

Denny Ward lives next door to the bank and says a bank in town is a necessity.

"We have an elderly population that depends on this bank," Ward said. "They are unable to get to another facility, so they need this facility."

However, the bank will not only take convenience of a hometown bank with it when it leave, but also a piece of history. Ward says the building has been the bank in town for years.

"The bank was the bank of Marquand. It was built around 1880 and it's operated continuously, even through the Great Depression it was one of the few banks in southeast Missouri that did not close." Ward said. "We have been very fortunate to have it all this time."

Ward says he hopes another bank will take over the building once Great Southern closes the branch.

The other locations to close are in Fair Play, Holts Summit, Humansville, Gravois Mills and Weaubleau.

According to Kelly Polonus, Director of Communications and Marketing with Great Southern, those banks affected will be closed by the end of the day on October 25, 2013.

ATM services will continue to be available at those locations and customers will still be able to access online banking and mobile banking services.

Each location was evaluated on a number of criteria including access and availability to customers, the proximity of other Great Southern banking centers, profitability and transaction volumes and market dynamics, according to a press release from Great Southern Bank.

Great Southern associates were told about the consolidations Thursday evening and those affected will have the opportunity to transfer to other positions in the company, if they are available.

A severance package will be available to those that work until the banking centers close and aren't able to transfer to another position.

The 11 banking centers to be consolidated were acquired in 2011 as part of the FDIC-assisted acquisition of the former 27-branch Sun Security Bank.

The bank says no actions are required by customers. 

Click here for more information on the consolidations.

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