Tower Bank to close Shady Grove branch
Tower Bancorp is closing two of its 25 branch offices by the end of February. Customers of Tower Bank in Shady Grove and Fort Loudon have been notified by letter of the impending change.
Executive Vice President Jeff Shank said the facilities were older, and rather than put money into capital improvements there, resources will be directed to the corporation’s newer buildings.
The Shady Grove bank was built in 1970, the first branch of First National Bank of Greencastle, precursor of Tower. At the time it was a logical place for a financial institution, Shank said, as it was across the street from Grove Manufacturing. With the technology available today, such as internet banking, and the prevalence of direct deposit, so many branch offices are no longer necessary, he added.
Tower also has offices in the neighboring communities of Chambersburg, Hagerstown, Waynesboro and Greencastle, so Shady Grove isn’t crucial to the market. “We’ve been thinking of closing it for years,” Shank said. “We held off hiring so the employees would have jobs in our other branches.”
He said they are all being offered positions and the bank will work with them to find something close to home.
The building in Shady Grove will eventually be rented or sold. The call center next door ceased operations and those employees moved into the Greencastle bank. Tower did not own that site.
The Fort Loudon building is also older. It came into the corporate family when FNBG merged with a McConnellsburg bank in 2006.