Muncie residents may soon have to move their money.
Old National Bank announced Monday that it will be closing 15 of its branches. Two of these branches are in Delaware County, including the branch in Yorktown and on McGalliard Road.
Other Indiana locations include those in Jasper, Vincennes, Terre Haute, Indianapolis, South Bend, Bloomington, Battle Creek and Jackson. The firm also plans on closing Kentucky locations in Henderson and Madisonville.
Each one of these firms will consolidate with existing firms. The McGalliard Road location will consolidate with the branch on Main Street in Muncie, and the branch in Yorktown will consolidate with the one on Jackson Street in Muncie.
At this time, the future of Old National Bank employees is uncertain, as it is unknown if they will be transferred or laid off due to the closings.
“I really hate to see this branch close because it is close to me, its convenient to me. I went to bank at the one on Broadway and they closed it down. Now I’m at McGalliard and they’re closing it down,” said Mary K. Waters, a local Old National Bank customer. “And I really hate to see it go. These people in here are very nice.”
Waters and other patrons were mailed a notice from Old National Bank this week, according to Kathy Schoettlin, executive vice president, community relations and social responsibility officer of Old National Bank. Signs printed with the notice are visible in multiple locations inside and outside of the banks.
Recent changes in customer banking habits over the years brought about this change. Old National Bank analyzed multiple factors in deciding which firms to consolidate.
“We look at everything from traffic flow to deposits, and our clients are really looking towards the mobile platforms – online banking and also mobile banking – to get their banking solutions. So we made the decisions to consolidations in the locations,” said Schoettlin.
The consolidations will be complete by January 2017.
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