Brookfield-based bank to close two locations this fall.
By the end of November, Brookfield-based Great Midwest Bank will have closed its branches at 8400 W. Silver Spring Drive, Milwaukee, and 2902 Dryden Drive, Madison.
The bank has seen a steady decline in transactions at both locations in recent years, said Mark Loeffel, vice president of operations.
“This is a function of activity at those banks. More customers are using direct deposits, telephone and online banking,” he said. “We felt it was appropriate to close the branches at this time as transaction volumes drop.”
The bank does not yet know how many of its employees will lose their jobs as a result of the closures. However Loevell said he expected at least some workers will be offered positions in other branches.
After the two branches are closed, Great Midwest will continue to have seven Milwaukee-area locations, one Madison branch and two in the Fox Valley.