Northeast Bank to close two branches
Lewiston-based Northeast Bank plans to close two of its branches in the Lewiston-Auburn area early next year.
The bank announced yesterday that it will close its locations at 882 Lisbon St. in Lewiston and 26 Pleasant St. in Mechanic Falls, according to a press release. The Lisbon Street branch will close Jan. 8 and the Mechanic Falls branch Feb. 5. The staff at those branches will be reassigned to other locations. Northeast President and CEO Jim Delamater said the decision comes in part due to new branches opening and the decline of branch transactions as online banking becomes more popular. The bank's newest branch on Canal Street in Lewiston, which opened in 2005, has affected the amount of business seen at the Lisbon Street branch. "It simply does not make good business sense to continue to deploy capital and maintain redundant services less than a mile away," he said in the release.
The Mechanic Falls branch is only three-and-a-half miles from the bank's new Poland location, scheduled to open in February 2010.
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