The Oakwood branch of Regions Bank near the intersection of Mundy Mill and McEver roads will close next year.
Letters were sent last week to customers whose accounts are housed at the Regions location, according to corporate spokesman Mel Campbell.
“In the letter it states that the branch is slated to close on March 20, 2015,” Campbell said.
The bank’s branch network is examined regularly, according to Campbell, for efficiency and quality.
“We look at how we’re doing,” he said. “We look at branch traffic, at locations, proximity to other branches, the profitability of different branches based on a host of different elements. When we look at that, we sometimes find opportunities to consolidate, and that’s what we have here.”
While there are some other branches closing in the state, the Oakwood location is the only branch in the area closing. Campbell said the Oakwood location is only about 4 miles from a larger branch in Gainesville and just 2« miles from another branch, also on McEver Road.
“So we have two branches that are really very close to this location,” he said.
Campbell said the condition of one branch versus nearby branches and the size of neighboring branches can also contribute to the decision to consolidate.
The company is working with the employees of the Oakwood branch to find them “opportunities where possible within Regions,” Campbell said.
Campbell said he wasn’t certain of the exact number of employees at the Oakwood branch, but he said the company will work with them regardless of the number.
“It really doesn’t change the fact that we’re going to work with them to find opportunities where possible,” he said.