Effective 4:00 pm, Monday, December 31, County bank will consolidate their Laurel and Seaford branches into their Georgetown branch.
According to their notice to customers of both branches, all accounts will automatically be transferred to the Georgetown branch at the close of business on December 31st.
Apparently the two local branches were not profitable to remain open. I have been told to expect more local banks to begin closing operations not profitable. In the past only larger chain banks evaluated their branches and closed them if not profitable.
Smaller, community banks usually remained open, but in today’s market it is too expensive to operate without a profit.
With today’s price of gas I would imagine County Bank will lose most of their customers on this side of the county. Laurel has 3 other banks, Seaford at least 3. Too expensive to drive to Georgetown. I realize a lot of banking today and bill paying are done electronically, however there are times you have to go to your bank.