The First National Bank and Trust Co. is closing a few locations in southwest Oklahoma as more customers switch to digital banking.
Although the physical locations will not be there, bank officials said the institution will still serve the areas.
The First National Bank and Trust has 14 sites. It’s closing locations in Alex, Cyril and Rush Springs. The bank’s Chief Experience Officer Mike VanSickle said customers increased their use of debit cards and services like mobile banking, causing fewer people to visit the bank in person.
VanSickle said while the COVID-19 pandemic didn’t cause the closure, it did expedite the shift to online banking.
“What we did is we listened to those communities, and they're doing banking online,” VanSickle said. “Certainly, there will be those that will go to our locations, and now they'll have to drive 18 miles. But the vast majority of our customer base is utilizing our electronic channels.,”
Customers of the locations can use other bank sites, and ATMs will be installed where they can make deposits and withdrawals. Managers from closed branches will work out of the main Chickasha location, and VanSickle said other employees will work at different branches.
“Our managers are still managing those communities,” VanSickle said. “They're just parking their car in a different location.”
He said the bank’s leadership had long conversations about what to do.
Although the bank will no longer operate physical buildings in the areas sites will not be in the areas, he said the bank is not leaving the communities.
Vansickle said the bank will still be involved in programs like football, extend services to customers and install ATMs in the areas for people to make deposits and withdrawals. He said the buildings will be donated to the communities.
“The last thing we wanted to do is leave any of those communities high and dry,” VanSickle said.
This report was produced by the Oklahoma Public Media Exchange, a collaboration of public media organizations. Help support collaborative journalism by donating at the link at the top of this webpage.
