BONIFAY - Wells Fargo Bank has announced the company will soon close its branch located at 406 South Waukesha Street in Bonifay.
The company, which is urging customers to utilize offices located in neighboring towns such as the branch at 1281 Church Avenue in Chipley, told Holmes County Times-Advertiser on Friday that the closing will not result in any job losses for employees of the Bonifay branch.
"When it comes to our team members, all team members in the Bonifay branch have been transferred to other branches," said Michael H. Gray of Wells Fargo Bank Corporate Communications in an emailed statement.
Gray went on to explain the decision to close the Bonifay location was based largely on an evaluation of trends that reflect how much the physical branch has been utilized by customers.
"We continuously evaluate our branch network, and our physical distribution strategy is driven by customer behavior," wrote Gray. "While branches continue to be important in serving our customers’ needs, our investment in digital capabilities has enabled us to seamlessly serve our customers across channels so customers have a choice in how they bank with us. And as a result, more transactions are occurring outside the branch. Our strategy is also influenced by geographical differences in our individual markets, economic trends and competitor actions to close or open branches."
The Bonifay branch of Wells Fargo Bank will officially close its doors to the public at noon Wednesday, March 14, 2018. The company has not yet stated plans for the branch building after the closure.