Bank Midwest To Shutter 19 Locations At KC Retirement Communities

Photo Courtesy of Kansas City Business Journal
Photo Courtesy of Kansas City Business Journal

Bank Midwest is closing 32 limited-service branches inside retirement communities at the end of the year, including 19 in the Kansas City area.

Before the closure, the 19 branches open briefly Monday through Friday to provided banking services to residents, for example at Tallgrass Creek in Overland Park and the Carlyle in Lee’s Summit. Also, the bank is offering residents incentives so that they can keep up with their accounts at nearby full-service branches.

This closure results from the mismatch between the retirement center sites and the major needs of banks, namely borrowers. According to the president of a consulting firm in Olathe, the senior center sites can’t provide loans, which borrowers mostly need.

Read more from The Kansas City Star

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