West Bend, WI – Two years after bank manager Mary Gumm retired from First Citizens Bank, previously Guaranty Bank, and now the bank announces its closing.
Customers received a letter via US Postal in June 2022 explaining “We value our relationship… and ends with “we’ve decided to close the branch at 876 S. Main Street in West Bend. Last day of business for this location is Friday, September 9, 2022 at 2 p.m.
Neighbors who received the letter today were walking into the branch and closing their accounts, withdrawing their balances, or cancelling their check orders.
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Fans of Mary Gumm were disappointed in the strong decline in service once she left. Gumm answered phones, knew customers by name, and helped lead a team that provided top-notch customer service.
Since the change to First Citizens Bank there had been staffing issue and no permanent manager on site.
It was May 5, 2017 when changes began for the former Guaranty Bank.
To protect the depositors, the FDIC entered into a purchase and assumption agreement with First-Citizens Bank & Trust Company, Raleigh, North Carolina, to assume all of the deposits of Guaranty Bank.
Guaranty Bank had 119 branches in five states, 107 of which were in retail outlets, such as grocery and general merchandise stores. The branches in retail outlets will not be reopening. The 12 brick-and-mortar locations in Illinois, Minnesota, and Wisconsin will reopen as branches of First-Citizens Bank & Trust Company during their normal business hours. All depositors of Guaranty Bank, regardless of where they conducted business, will automatically become depositors of First-Citizens Bank & Trust Company.
The branch in Racine, WI is closing too. The ATM will also be closed/removed in West Bend, WI and the current manager said he expected the building would be sold.
On a history note: This is the second financial institution to close in West Bend, WI within the past six months. On December 31, 2021, Educator’s Credit Union on Paradise Drive announced it was closing. That branch opened following a purchase from BMO Harris in 2014. Educator’s finally opened off Silverbrook Drive in 2016.
