Less than six months after took over Community Central Bank, including two branches in the Grosse Pointes, one of its two in Grosse Pointe Woods will close, officials said.
The small branch at Mack Avenue and Roslyn Road will remain open through Sept. 9 and then close, Talmer Chief Marketing Officer Shellie Maitre said.
Employees will be moved to the other Woods branch at 20276 Mack Ave. between South Renaud and Lochmoor Boulevard. In addition to keeping the employees, their retention is expected to help the transition with customers, who have already been notified, Maitre said. Customers who normally visit the closing branch will see familiar faces when they begin visiting the other branch down the road, she said.
Talmer Bank and Trust acquired Community Central Bank in April through an FDIC-assisted sale, which included the branch at Mack Avenue and Roslyn Road branch and a branch on the Hill in Grosse Pointe Farms. In February, Talmer acquired Peoples State Bank with a branch in Grosse Pointe Woods at 20276 Mack Ave. through a similar FDIC-assisted sale.
The acquisitions of the banks happen as a whole company rather than on a branch-by-branch basis, which Maitre said requires Talmer's leaders to assess the real estate afterward.
In this particular case, having two branches about one mile apart was creating an unnecessary internal competition, she said. The choice to close the smaller of the two branches is based on the amenities offered at the other branch, which has drive-through teller service, a drive-through ATM and extended hours, Maitre said.
The Troy-based financial company is in a growth mode, Maitre said, explaining there are currently 53 branches, 37 of which are in Michigan and the remainder in Wisconsin.
All their branches have been acquired through FDIC-assisted sales of failing banks, beginning in 2010 under Talmer's former name, First Michigan Bank, according to the FDIC. The acquisitions include:
- April 2010: 22 branches of CD Bancorp based in Port Huron
- November 2010: 17 branches of First Banking Center in Burlington, WI
- February 2011: 10 branches of Peoples State Bank based out of Hamtramck
- April 2011: Four branches of Community Central Bank based out of Macomb
Maitre said in all of Talmer's acquisitions, the situation in Grosse Pointe Woods is the first time there has been an overlap in branch locations, and therefore the first time the company has closed a branch. The important part is that service won't change for customers and the employees are not losing their jobs, she said.
Talmer's goal is to be "the super community bank," Maitre said, noting the branches in the Grosse Pointes are doing well and there is no plan to consolidate again between the Woods and of branches.
Maitre was not immediately aware of who is responsible for the property itself once the branch moves out. Under the FDIC sales, she said, she believes the FDIC retains possession.
This is the second bank in the last six months to close one of its two branches along Mack Avenue in Grosse Pointe Woods. left its location at 20599 Mack Avenue between Van Antwerp and Lennon streets. It has maintained its other branch at 19700 Mack Avenue near Cook Road. Those branches were also about one mile apart.
The building vacated by Bank of America has been stripped of the financial institution's sign and other identifying markings and is for sale.