The Suffolk County National Bank branch in Mattituck will soon close its doors.
Suffolk Bancorp, the parent company of SCNB, will shut down the branch by March 2014 and will move to sell the land next year, said bank president and CEO Howard Bluver.
The Mattituck branch is one of four put on the chopping block Thursday in an effort to make the bank more “efficient and nimble” and to protect the “best core deposit franchises.”
“Following these actions, we will continue to have the premiere branch system in Suffolk County, consisting of 24 branches situated in key locations throughout the entire county,” Mr. Bluver said.
He said the company would save $2.4 million per year in expenses by closing the Mattituck branch, as well as locations in Port Jefferson Station, Manorville and Montauk Harbor.
Last month, SCNB closed branches in Water Mill and Middle Island; the Water Mill building is already under contract to be sold, earning the bank roughly $400,000 profit in the sale.
Mattituck’s branch will go on the market sometime next year, Mr. Bluver said.
The locations were picked for closure following an analysis of the company’s branches by an outside consultant, Mr. Bluver said. The bank will close the branches in stages, allowing the company to “talk to [its] customers on an individual basis” about the moves, he said.
Mr. Bluver also announced a new 544-square-foot branch staffed by three employees will be built in Garden City.