Olney's Citibank location will be packing up and moving out of town in June, according to an official statement released Monday, March 17, by the Citi corporation.
Andrew Brent, public affairs director in the Citi U.S. Consumer and Commercial Banking division, confirmed what most residents had already heard: the bank will cease to exist in Olney on June 27.
"We continually seek ways to optimize our branch network, which includes opening, renovating and, where appropriate, closing branches," Brent said. "Accordingly, we have determined that a select number of branches in Texas do not fit our market strategy that focuses on major cities. They will close in June 2014."
Also on the list for closure, according to news reports, were all Citibank locations in Wichita County as well as the location in Graham. In total, 29 community branches and one drive-up location will close.
Brent also said that Citibank will be removing its local, branch-affiliated ATM, as well.
No further information regarding the fate of local employees was available Monday.