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 Old National Bank Consolidating Airport and Beechmont Branches

MUHLENBERG COUNTY, Ky. (02/02/15) – KenCo News recently received word that a local bank was considering the concept of shutting down two local branches. As a result, reporters spoke with Peggy Williams, Region President for Old National Bank, regarding the rumors.

“We’re not closing, essentially,” said Mrs. Williams. “We’re consolidating. This is not uncommon when you have banking centers and markets that are very close in proximity. With the availability of banking services through electronic means and so forth, you just look for ways to manage your costs and still deliver the same service. That is what we are doing.”

Mrs. Williams explained that the Greenville branch will remain open and active, and that the Beechmont and airport offices will be consolidated into the Greenville office.

When asked about the impact upon the employees and their jobs, Mrs. Williams said, “At this point we’re not prepared to comment on that. There are some early retirement packages being made available. There’s a period of time that those folks have to consider that. It’s purely voluntary. We’ll just wait and see what happens when they get through that review."

Reporters proceeded to ask if this consolidation was a result of the current economy. Mrs. Williams responded by providing the following statement sent forth by Old National Chief Executive Officer Bob Jones in regards to the consolidation…

“We had a good year in 2014, yet challenges still remain. The banking environment is still unsettled. Economic uncertainty persists and the cost associated with heightened compliance and regulatory requirements continue to be a drain on financial institutions. Balancing these challenges with our goal of being a true high performance company and leader among our peers requires a continual examination and assessment of our processes and systems. It also means constantly examining other services and delivery network of all our markets to make sure we are operating as efficiently and effectively as possible.”

When asked if there was any risk of the Greenville branch closing, Mrs. Williams said, “We are not closing. We will have people here in this location to take care of customers. We’re committed to this community and we have always been committed to the community. Our people are community-involved. We have 100 percent volunteerism among our staff for community projects. We lead the company in that. We do not expect to miss a beat in our service to the community and our investment in the community.”

Williams stated that the airport branch consolidation will take place in mid-March and the Beechmont branch will be consolidating in Mid-May.

J.L. Graham
KenCo News