National Penn will close its Bellefonte branch and eight others as a way to cut costs, a bank spokesman said Tuesday.
The branch at 125 N. Allegheny St. will close April 30, said spokesman Jeff Vaughan. It’s consolidating with its nearest branch at 2541 E. College Ave., College Township.
A written sign posted at the branch alerted customers of the change.
In the coming weeks, customers will receive information about the consolidation, including which National Penn branch may be most convenient for them, marketing director Jacklyn Bingaman said in an email.
“As part of National Penn’s ongoing focus on expense management, improving customer service and enhancing shareholder value, the company is taking strategic action,” Bingaman said.
There are four other National Penn bank branches in Centre County, all in the Centre Region. None of these are expected to close, Vaughan said. He couldn’t be more specific with what other branches are closing.
On Dec. 20, the bank announced that it would close nine branches — a few traditional and in-store branches — and consolidate them into nearby branches in April, Bingaman said.
It wasn’t immediately clear which other locations would be shuttered. Calls to regional President David Richards were not returned. However, The Morning Call in Allentown reported that Chief Financial Officer Mike Hughes said staff reductions will result in 112 layoffs.
National Penn’s two Bellefonte branch employees are relocating to other branches in the company, Bingaman said.
The company, headquartered in Boyertown, has 119 branches in Pennsylvania and one in Maryland. It will move its headquarters to Allentown later this year.
The former locally owned Nittany Bank was absorbed by National Penn Bancshares in 2006 and is now known as National Penn.