WILKES-BARRE - One of the tallest office buildings in downtown Wilkes-Barre soon will lose its principal tenant, leaving a huge vacant lobby at a historic corner that once was the hub for most major regional banks.
Citizens Bank will close its downtown operations at 8-18 W. Market St. on Feb. 8 and consolidate with its Kingston branch at 196 S. Wyoming Ave.
When asked why the bank is closing, bank spokeswoman Sylvia Bronner said officials continually review customer traffic patterns, and that mobile and online banking have become increasingly popular.
"We significantly expanded those services last year and are continuing to invest in this area and make improvements to our ATM network," Ms. Bronner said. "We know that all of these options are important to our customers. We want to make it as easy as possible for them to do their banking when, where and how they want."
Ms. Bronner would not elaborate further on Citizens Bank's decision to leave the West Market Street location, but she said the bank's two other branches in Wilkes-Barre at 111 E. Market St. at Market Street Square and 351 Kidder St. will remain open.
One reason bank branches are closing or consolidating is customers are increasingly banking online and fewer brick and mortar locations are needed, said Timothy Kearney, chairman of the business department at Misericordia University.
Ken Thomas, a Miami-based bank branch location expert and founder of the website branchlocation.com, said many times banks consolidate branches for financial reasons.
The biggest expenses for banks are deposits, personnel and the expenses of branch locations, Mr. Thomas said.
Contact the writer: dallabaugh@citizensvoice.com