WASHINGTON, Pa., June 29, 2020 (GLOBE NEWSWIRE) — Group Bank (the “Bank”), the bank subsidiary of CB Monetary Companies, Inc. (NASDAQGM: CBFV), right this moment introduced that it has filed discover with its regulators of its plans to consolidate its Monessen department workplace positioned at 565 Donner Avenue, Monessen, Pennsylvania, with its close by Rostraver department workplace positioned at 1670 Broad Avenue, Belle Vernon, Pennsylvania, and consolidate its Bethlehem department workplace positioned at 1090 East Bethlehem Boulevard, Wheeling, West Virginia, with its close by Woodsdale department workplace positioned at 875 Nationwide Street, Wheeling, West Virginia. The proposed consolidation date is September 30, 2020. Following consolidation, the Monessen and Bethlehem places will not function as department workplaces.
“The decision to consolidate our Monessen and Bethlehem branches followed a thorough review of our operations and is based primarily on the close proximity to other Community Bank branches,” stated Barron P. McCune, Jr., President and Chief Government Officer of the Bank. “Transaction counts in all branches are declining, especially in light of measures taken due to COVID-19. Over the years, we have offered some of the best on-line and mobile banking services available to consumers today and customers have responded by using them more and more each day. The added convenience and ease of transacting business without needing to come into a branch has become so popular with customers that it has reduced usage of some branch locations. Monessen has been temporarily closed since mid-May due to the pandemic and limitations with the facility in a socially distant environment. All employees will be retained and relocated to one of our other locations. Customers of the Monessen branch will continue to be served through our nearby Rostraver branch, as well as the nearby Monongahela branch. Customers of the Bethlehem branch will continue to be served through our nearby Woodsdale branch, as well as the nearby Warwood branch. We remain committed to superior customer service. At the same time, we continue to develop an efficient branch network that will meet the changing needs of our market area.”
About CB Monetary Companies, Inc.
CB Monetary Companies, Inc. is the bank holding firm for Group Bank, a Pennsylvania-chartered business bank. Group Bank operates sixteen workplaces in Greene, Allegheny, Washington, Fayette, and Westmoreland Counties in southwestern Pennsylvania, seven workplaces in Brooke, Marshall, Ohio, Upshur and Wetzel Counties in West Virginia, and one workplace in Belmont County in Ohio. Group Bank presents a broad array of retail and business lending and deposit companies and offers business and private insurance coverage brokerage companies by means of Alternate Underwriters, Inc., its wholly owned subsidiary.
For extra details about CB Monetary Companies, Inc. and Group Bank, go to our web site at www.communitybank.television.
Barron P. McCune, Jr.
President and Chief Government Officer
Cellphone: (724) 225-2400
Fax: (724) 225-4903