Union Bank & Trust CEO Explains Pouncey Tract Branch Closure
Union Bank & Trust, based in Bowling Green, recently closed the doors of its Pouncey Tract Road location, a story we reported on earlier in the week. President and CEO John Neal said that the lease was coming due and that, with another branch less than a mile away, it made sense to close down the […]
Union Bank & Trust, based in Bowling Green, recently closed the doors of its Pouncey Tract Road location, a story we reported on earlier in the week. President and CEO John Neal said that the lease was coming due and that, with another branch less than a mile away, it made sense to close down the branch.
“It was just a business decision,” said Neal. “With the other branch so close, we felt like we could serve our customers just as well at the other location.”
All deposits at the Pouncey Tract branch were transferred to the Twin Hickory branch on Nuckols Road.
The closed branch was attached to a Fas Mart service station, and Neal said it was the bank’s last Fas Mart office in the Richmond area. The bank still has one operating in Stafford.
Neal said the branch closure did not have any direct relation to Union Bank & Trust’s merger agreement with First Market Bank, which has a standalone branch located nearby at West Broad Village. First Market also has a branch inside the Ukrop’s store on Pump Road.
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