Olean Times Herald, February 1,2023, Community Bank to close Portville branch
A letter dated Jan. 25 to customers indicates that the Portville branch at 7 N. Union St. will close April 23, citing consolidated services with other branches. Customers were referred to the North Union Street branch in Olean, the branch office in Bolivar or to online options.
The branch has been closed since late December due to burst water pipes caused by cold temperatures at the time.
The closure is the latest by the bank, as well as the latest among a string of closures nationwide. A report in early 2022 by the National Community Reinvestment Coalition reported that 9% of all bank branch locations in the U.S. — around 7,500 branches — closed between 2017 and 2021. Mergers and acquisitions have driven most branch closures, officials reported, as well as lower foot traffic to brick-and-mortar bank locations due to mobile and internet-based transactions.
