A Massive Bank in Ohio Has Now Shuttered 10 Branches

A massive bank in Ohio has now shuttered 10 branches according to the latest data from the Office of the Comptroller of the Currency.

Bank branches continue to close down as the digital landscape continues to grow.

The Office of the Comptroller of Currency has reported that Park National Bank closed ten locations in Ohio over the last week.

Park National Bank said that changing customer patterns and service preferences are key factors in the decision to modify its branch network.

Officials say the bank will be communicating directly with affected customers to explain options for continued service after affected offices close.

Below is the list of bank branches that closed in Ohio:

  • 898 East St, Athens
  • 2810 Maysville Pike, Zanesville
  • 220 E. State St, Newcomerstown
  • 1274 Hills Road N, Pickerington
  • 205 North Seltzer St, Crestline
  • 2148-G Eagle Pass, Wooster
  • 800 North Main St, Celina
  • 8 West Maple St, North Lewisburg
  • 2035 Dayton Lakeview Rd, New Carlisle
  • 1176 West Main St, Tipp City

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Also Read: Another Facility in South Carolina Now Announces An Unexpected Closure

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Market News Today - A Massive Bank in Ohio Has Now Shuttered 10 Branches.
Market News Today – A Massive Bank in Ohio Has Now Shuttered 10 Branches.

This massive discount retailer is now closing 1,000 stores as inflation pressures the company to shutter several locations.

Dollar Tree Inc. plans to close a whopping 600 of its Family Dollar stores during the first half of the year, the company said Wednesday.

The retailer also intends to close an additional 370 Family Dollar stores and 30 Dollar Tree stores in the coming years as leases expire, CEO Rick Dreiling said during an earnings call.

Consolidated net sales for the fourth quarter rose 12% to $8.6 billion from $7.7 billion year over year.

Quarterly net sales at the company’s namesake banner rose 15% to nearly $5 billion, up from $4.3 billion a year earlier.

Family Dollar net sales rose 7% to $3.7 from $3.4 billion.

Overall, the company posted a net loss of $1.7 billion for Q4.

For the full year, consolidated net sales rose 8% to $30.6 billion from $28.3 billion a year earlier.

However, the company swung to a net loss of $998 million from a prior year profit of $1.62 billion.

Overall same-store sales increased 4.6%.

By banner, Dollar Tree’s comps rose nearly 6%, while Family Dollar’s comps grew 3.2%.

Dollar Tree said in November that it planned to review its Family Dollar portfolio and identify underperforming stores for closure, relocation, or re-bannering.

The Virginia-based company, which had 16,774 stores in the U.S. and Canada as of last month, publicly shared the outcome of its review for the first time Wednesday.

Dreiling said persistent inflation and reduced government benefits continue to pressure the lower-income consumers that comprise a sizeable portion of Family Dollar’s customer base.

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Also Read: A Massive Grocery Store Will Now Close All Locations

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Market News Today - A Massive Bank in Ohio Has Now Shuttered 10 Branches.
Market News Today – A Massive Bank in Ohio Has Now Shuttered 10 Branches.

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