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The Bagdad branch of Citizen’s Union Bank will close its doors today after 18 years in operation.
What’s more, CUB President David Bowling said, his bank is in the process of donating the building to a local organization. He said when the decision – a difficult one – was made to close the branch, what to do with the building, built in 1921 and valued at $100,000, became an issue, which apparently has been solved to everyone’s satisfaction.
“So we’ve had a number of conversation with folks in the community, and we think we’ve got a good solution to that,” he said. “Our plan is to take that property and donate it to an organization in the community that will be able to use it for the community’s benefit.”
Bowling said he could not yet divulge the name of the entity that will be receiving the building.
“I can’t disclose who that is because it’s not all been finalized,” he said.
Bowling said that the two employees at the branch would be transferred to other branches.
“We sent letters to our customers back in November letting them know we had decided to close the branch,” he said. “We have four full-service locations within fifteen miles of that branch, and from talking to many of our customers, many of them work or shop frequently in the Shelbyville market.
“Since those branches are convenient to them, we felt like the majority of our customers will be served adequately by the branches that we have.”
Bowling said that a number of factors went into the decision to close the branch, including declining customer use, in addition to the fact that the county’s four other branches could serve CUB customers.
“Another thing that weighed heavily on our decision was the robbery,” he said. “We were robbed at gunpoint, and that crime has never been solved.”
Shelby County Sheriff’s Det. Jason Rice said that the robbery, which occurred in December 2012, is still an open case and that he could understand why bank officials are experiencing trepidation about the vulnerability of the bank’s location.
“I do see problems with it being located where it is, because that bank is in such an isolated place where there’s not a lot of traffic,” he said. “So I can definitely see his [Bowling’s] concern about that.”