Johnson Bank plans to close six of its branches throughout Wisconsin, a measure chief executive officer Jim Popp says directly aligns with how the branch banking business has evolved across the industry.
The Johnson Bank branches are slated to close Nov. 13 and are located in Janesville, Sturtevant, Green Bay, Kenosha and two branches in Racine, according to the Department of Financial Institutions.
The Johnson Bank branch closures follow an industry wide trend, which includes consumers adapting to mobile and online banking, a smaller branch footprint as well as less walk-in traffic, Popp said.
“Branch business isn’t going away for us,” Popp said. “We’re just trying to make some smart decisions on how many branches we have, where they are and where we need them going forward.”
Popp says Johnson is in a constant mode of evaluation, not only in terms of where branches are located, but also how branches will be laid out, what technologies may be implemented to serve customers and the bank’s overall interaction with customers.
“As an industry and a company, as we look at our physical locations and evaluate where we need and want to do facelifts, reimagine what the branch looks like, its an opportune time to also decide where our branches should be,” Popp said.
Despite these closures, Johnson Bank will still have a significant branch presence in Wisconsin with more than 37 branches across the state.
The branch closures also come at time when Johnson Banks parent company,
Johnson Financial Group, Inc., sold four of its Arizona-based branches to
Arizona Bank & Trust, a subsidiary of Dubuque, Iowa-based
Heartland Financial USA, Inc.
Racine-based Johnson Bank had $5.52 billion in assets and $4.28 billion in deposits as of March 31, 2020.
Here's a full list of branch closures:
- Racine, 1525 Howe St.
- Racine, 6520 Northwestern Ave.
- Janesville, 1309 N. Wright Road.
- Sturtevant, 8311 16th St.
- Green Bay, 455 Riverdale Drive.
- Kenosha, 2729 18th St.
