Bank of America wasn’t lying about selling off their branches, a story we originally reported on back in 2009. First State Community Bank is buying nine Bank of America branches in Missouri, which will boost Farmington, Mo.,-based First State Community to $1.7 billion in assets and a total of 46 Missouri branches. Some branches will complement current markets while others will be new markets like Rolla, a city about 2 hours outside of St. Louis.
Fortunately, for the employed there are no planned staffing changes or layoffs for Bank of America’s 55 employees at the nine branches. According to the bank’s chief executive, they will merely become First State employees after the sale closes. Since announcing further plans last year to rid itself of 750 branches over the next few years, Bank of America has sold branches in Maine and Iowa. More sales are sure to follow.
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