The Farmers and Merchants State Bank location in downtown Wauseon is among several the corporate office has closed in order to consolidate.
The location at 119 N. Fulton St. was closed March 1. According to Amy Cover, F&M vice president and marketing manager, locations in Archbold and Bryan have also been closed due to their proximity to others.
“In order to keep expanding, not only in new geographies but also expand our product and service offerings to our customers, we made the challenging but necessary decision to close the downtown Wauseon office,” Cover said. The half-dozen employees at that branch were assimilated into the city’s Shoop Avenue branch.
Especially during the COVID-19 pandemic, many of the bank’s customers have resorted to banking remotely online and from their cell phones, she said, adding, “We want to make sure that we are offering the best products and services that we can on those channels as well, so the need to operate in more than one location has kind of gone away.”
The bank closed one of two full-service locations in both Archbold and Bryan as well. A branch in Monroeville, Ind., was also shut down permanently.
The Archbold-based bank still has 30 full-service locations and three loan production offices throughout Ohio and Indiana, and just opened a full-service branch in Fort Wayne. The bank’s only Michigan location is a loan production office in Bloomfield.
Cover said closing those branches in close proximity to others will free up resources to invest in other products and services and to expand the bank’s marketing area. She said F&M is in a period of growth.
“We’re still looking to grow and expand, and this just allows us to have a little more resource to do those types of things,” she said.
The closed Fulton Street location will go up for sale, Cover said.
Reach David J. Coehrs at 419-335-2010.