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Fifth Third Bancorp
- What: Cincinnati financial services company
- Where: After consolidation, Hamilton area locations at 3131 Princeton Road, 5420 Liberty Fairfield Road inside a grocery store and 902 N.W. Washington Blvd.
- Phone: (800) 972-3030
- CEO and president: Kevin Kabat
- CEO and president of Fifth Third Bank Greater Cincinnati: Mike Michael
- Assets: $110 billion
- Website: www.53.com
HAMILTON — Fifth Third Bank said it is closing its downtown branch in a move to streamline operations in the area.
Hamilton Center, which is set to close July 29, is consolidating with the Hamilton West branch, 902 N.W. Washington Blvd., said Stephanie Honan, Fifth Third spokeswoman.
Branch closings are based on distribution of locations, transaction volume and community needs, Honan said. She said the company constantly evaluates branches and has no current plans to close the downtown Middletown location.
Fifth Third doesn’t disclose transaction volume amounts.
She said Hamilton West is the next closest branch.
“We are working with them (customers) to make it a smooth transition,” she said.
Customers were mailed letters April 29 explaining the consolidation and transfer of accounts, Honan said.
Account information will be transferred automatically from the 2 S. Third St. location to the Washington Boulevard site. Customers with property in safe deposit boxes will have to pick that up, she added.
Fifth Third owns the downtown building, which is 43,560 square feet, and will look for additional tenants, according to Honan.
The four employees at the Third Street site will have the option to transfer to other Fifth Third offices.
After the consolidation, the Cincinnati-based bank will have three branches in the Hamilton area, part of its Greater Cincinnati affiliate that has a total approximately 140 branches.
“That market remains important,” said Mike Michael, president and chief executive officer of Fifth Third Bank Greater Cincinnati. “Typically when we close a branch, it’s because our traffic patterns are down.”
When the bank’s space becomes unoccupied, it will add to current vacant spots downtown such as Ohio Casualty’s former headquarters, 131 and 136 N. Third St., and the former Elder-Beerman store, 150 High St.
Any time a business leaves downtown, Ryan’s Tavern on High Street feels the change, said Tully Milders, general manager.
“Because of our location, we count on people to walk to us during lunch time here,” Milders said. “So all the banks are a big part of what’s left downtown.”
Contact this reporter at (513) 705-2551 or clevingston@coxohio.com.
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