First Bank has announced its intention to close the institution’s Candor, N.C. branch and nine other locations as part of a consolidation plan.
Chief retail banking officer Cathy Dudley said the changes are due to a shift in customer banking preferences and a need “to build stronger branch banking centers that will serve larger areas.”
In a media release, Dudley noted that First Bank has seen the industry-wide trend of more online and mobile banking usage, and fewer face-to-face transactions in its branches.
In Montgomery County, the Candor branch of First Bank will be closed, shifting its accounts to the new branch at Montgomery Crossing in Biscoe. Other area branches to be closed include Pinebluff, and one each in Asheboro, Rockingham and Thomasville.
Three other North Carolina branches will close in Candler, Maxton and Washington, along with one each in Cheraw, S.C., and Dublin, Va.
First Bank was founded as Bank of Montgomery in 1935. It has been about a year-and-a-half since First Bank announced it was moving its headquarters and about 40 jobs from Troy to Southern Pines.