Magnolia Bank Announces Branch Closure Plans

Magnolia Bank will announce today plans to close its banking center in Magnolia. According to a statement from Magnolia Bank, the center located at 4910 L&N Turnpike, will begin a phased closing starting on February 1st with new, reduced hours. Bank Board Chair Eric Garrett said closing the location was not a decision made lightly but a decline in walk-in transactions, staffing challenges and increased use of online and mobile banking options were top factors in the decision. Once the banking center closes, those employees will have the opportunity to continue working at a different location.