Caledonia Argus

Community First will close Hokah branch

Posted: 7/3/02

Community First Bank announced late last week that it will close its Hokah branch in September.

Mike Werner, president of Community First-Caledonia, said Friday that the bank will remain open until September 27. The Hokah branch currently has two full time employees and one part time employee. The employees will be given a severance package and outplacement assistance, said Werner.

ìThe decision was very difficult and Community First really appreciates the business we have in Hokah. We want to continue to serve them.î

Werner said the decision to close the Hokah branch was based on research which showed that the number of transactions versus the resources needed to complete the transactions were not in line.

Customers of the Hokah bank were notified of the change last week.

ìCustomers have received information and we will work hard in continuing to serve them,î said Werner. The current customers in Hokah will not have to do anything to have their accounts transferred to the Caledonia office. Those holding safety deposit boxes will be offered incentives to rent boxes from the Caledonia branch. Werner said that the bank will give personal service to those customers who have CDs coming due.

Werner added that customers also have the option of ATM, telephone banking and online banking.

Community First-Hokah was first chartered as the Commercial State Bank of Hokah in 1952. It later became Americana State Bank of Hokah, and in March of 1982 merged with Caledonia State Bank, which later became Minnesota Bank, and then Community First.

Community Firstís headquarters are located in Fargo, North Dakota.

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