Three U.S. Bank locations in Joplin and Webb City will close before the end of the year as the bank adapts to the changing ways people utilize its services through things such as mobile and online banking, a bank executive confirmed with the Globe on Friday.
Two Joplin branches, at 2801 E. 32nd St. and 820 S. Maiden Lane, as well as the Webb City branch at 121 W. Broadway St., will be closing by Nov. 7, according to Evan Lapiska, vice president of public affairs and corporate communications. Other U.S. Bank locations in Joplin will remain open.
“Customers received a letter informing them of the closure with more information and directions for any questions they may have,” Lapiska said in an emailed statement to the Globe.
U.S. Bank announced that it plans to modify its network of 3,000 branches in 25 states with remodels, openings and closures over the next two years, according to an April report published in the Minnesota-based newspaper, the Star Tribune. The newspaper is based in the same hometown as U.S. Bancorp, the parent company of U.S. Bank.
U.S. Bancorp is the fifth-largest commercial bank in the United States with more than 70,000 employees and $482 billion in assets as of June 30. For several years, the bank was restricted from making changes to its 3,000 branches because of a regulatory review of anti-money laundering practices, but that ended last year, the Star Tribune said.
In April, Andy Cecere, the company’s chief executive, told analysts during a discussion of quarterly results that U.S. Bancorp would close anywhere from 300 to around 450 branches, according to the Star Tribune.
Lapiska said the three regional closures are part of this network overhaul in an effort to adjust to the rapid use of digital and mobile banking.
“Customers’ preferences and behaviors are changing, including a rapid migration toward digital and mobile banking platforms, and a desire for greater simplicity,” he said in an emailed statement to the Globe. "As we evolve along with our customers, we are reevaluating our physical footprint, and in some instances, consolidating a limited number of branch locations in select markets. The same process will result in reinvestment in core retail banking markets in the form of new, relocated or redesigned physical locations by the end of 2020."
Lapiska said bank employees were notified of the closures at the beginning of the month. However, he did not respond to the Globe’s questions about possible layoffs at the Joplin and Webb City branches.
“We understand that the closure of any branch is a disruption for our customers and our employees and we are working to make the transition as smooth as possible for all involved,” he said in the email.
When asked about the status of the branches in Carthage, Neosho and Lamar in Missouri and in Pittsburg, Kansas, Lapiska said their status remains unchanged. The bank’s branch network spans over 25 states in the Midwest and West.
“We are proud of our history in Joplin and Webb City and the relationship we have with our customers, employees and the local community, and we look forward to continuing to serve our customers in the area through our other branch locations in the area, as well as and our mobile and digital banking platforms,” Lapiska said in an emailed statement.