According to The Sun , A prominent financial institution, First National Bank and Trust Company, is closing three branches in southwestern Oklahoma, marking a significant shift in the bank’s operations. The closures will impact select account holders in Alex, Cyril, and Rush Springs. While these changes reduce in-person banking options, the bank’s CEO has promised that the community will still benefit from ongoing support.
First National Bank and Trust has been serving Oklahoma since its founding in 1892 as Citizens Bank, later becoming First National Bank and Trust in 1938 after a merger. As of 2024, the bank has 14 branches across the state, but this number will drop to 11 as it closes branches in the affected areas. No final closure dates have been announced yet, but the bank expects the shutdowns to occur in the coming weeks.
Mike VanSickle, the bank’s chief experience officer, explained that the decision to close the branches was influenced by the growing popularity of online banking. Many customers in these areas have increasingly relied on mobile banking and debit card transactions, using the branches less frequently.
“Customers in these communities are banking online,” VanSickle said. “While some will have to travel 18 miles to the next nearest branch, the majority are using our electronic channels.”
Although the branches will close, customers will still have access to full banking services at nearby locations. Additionally, First National Bank and Trust will install ATMs in the affected areas for deposits and withdrawals. Branch managers from the closed locations will continue assisting the community remotely from the bank’s headquarters in Chickasha.
In a show of continued support for the communities, the bank plans to invest in local football programs in Alex, Cyril, and Rush Springs. It will also donate the buildings housing the shuttered branches to support these programs.
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First National Bank and Trust is not the only institution to announce closures. Citizens Bank recently revealed plans to shut down 15 branches across six northeastern states, and other banks such as JPMorgan Chase, Bank of America, and Wells Fargo have also closed numerous locations in 2024. The trend of branch closures reflects a broader shift toward online and mobile banking, with more than 20,000 locations closed since 2009, according to the FDIC.
Additionally, 18 banks inside Walmart stores nationwide will close by the end of the year, further highlighting the growing trend of digital banking over traditional brick-and-mortar branches.
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