Regions Bank is downsizing; one Linton branch to close

Look for the bank's two Linton branches to consolidate in early 2010.

Regions spokesperson Mel Campbell confirmed the consolidation Monday afternoon for the Greene County Daily World.

Linton's east side Regions branch at 1600 NE "A" St will close and consolidate with the branch's downtown Linton location at 89 W. Vincennes Street, he said.

"What's happening at the Linton branch is happening as a part of the efforts of an overall consolidation plan," he explained, noting a total of 121 Regions branches will be consolidated.

Linton's consolidation is one of three in the Hoosier state, he added.

"It's an efficiency opportunity ...The Linton branches are right at a mile apart and we feel we can continue to provide customer service with the one location," he added.

The bank hopes to retain its local employees.

"We're working to retain employees in Linton or place them in positions in the surrounding counties," he explained.

Regions banking customers should expect the same service.

"Customers can continue to bank at both branches until the consolidation," he added.

Last week, Regions Bank announced the consolidation -- which includes 121 branches across its 1,900-branch footprint -- due to proximity to other locations or opportunity for performance improvement.

According to a recent financial report, the company lost $437 million this past quarter.

The loss was attributed to increased loan loss provisioning, reflective of continued economic weakness and the company's ongoing efforts to identify and address credit-related issues as it further improves the risk profile of its balance sheet.

Company officials recorded associated property valuation charges and other costs of approximately $41 million in the third quarter.