By Don Rush
It may sound counter intuitive, but the decision to close two branches of the Clarkston State Bank is not because the company is feeling any financial pinch. Quite the opposite, if you ask bank president Grant Smith on why branches downtown and on Sashabaw Road are closing.
‘It’s a sign of the times,? Smith said last Wednesday morning, of the decision the board of directors made. ‘The fact is we have a strong business model, we’re very profitable ? we’re recognizing trends. Closing the downtown branch is an emotional issue. It’s a classic building but it is underutilized.?
Smith said the downtown branch does not have a drive-through window and the parking situation is a real problem. ‘Given the significant increase in electronic banking we have continued to see the walk-in traffic decline. This branch has served us and the community very well through the years but our business model is changing and this historical building is underutilized. Selling this building will provide a great opportunity for a new business in downtown Clarkston.?
The branch in the Independence Square shopping plaza will also be closed for under utilization. Smith said the closings will help the bank position itself for the present and future. ‘We are expanding our mobile banking and online banking services to better service our customers. We’ve seen the shift here on how people use their bank and our business model allows us the agility to adapt.?
The shift he referred to is the move away from physically walking into a building to complete transactions, towards the growing use of technology ? computers, smart-phones and tablets. ‘We have all the electronic tools to complement our suite of products,? Smith said.
Smith said the last day for each branch is Friday, April 17. At that time, customers can do their banking at the M-15 branch (5800 S. Main Street). This branch, and the other in Waterford (6600 Highland Road), has drive-through and lobby services, a drive-up ATM and convenient bank-exclusive parking. The downtown property is in high demand, and Smith expects it to be sold quickly.
‘The bank also owns a parcel of property on Sashabaw Road in the McLaren Health Care Complex which we will retain for now,? he said.
Clarkston State Bank opened in downtown in January 1999; by June of that year they opened up in the Farmer Jack grocery store at the corner of Sashabaw and Waldon roads, a branch they purchased from The State Bank. When Farmer Jack closed in June, 2007 they moved to a store front location in the same strip center.
Employees and bank customers were made aware of the upcoming changes at the end of last week.
‘We will continue our support of the community and look forward to continued growth and profitability,? Grant said.