Eaton Community Bank announces closure of Gregory branch

Information adapted from Eaton Community Bank news release with additions by Judy Brune

Effective July 30, 2021, the Gregory branch of Eaton Community Bank will be closing. 

Assuring bank customers that “our commitment to serving your financial needs have not changed,” President Timothy Jewell said shifts in banking service patterns, including electronic options such as ATMs, direct deposit, and online banking, has greatly reduced in-branch traffic. The trend has been accelerated by the current pandemic.

While customer use of bank branches has declined, the cost to operate branches has not. Jewell added it was “no longer financially viable to operate two full-service branches only six miles apart in Gregory and Stockbridge.”

Reflecting on the history of the Gregory bank, life-long resident and local business owner Rod Munsell shared, “It was my grandfather, Paul Dancer and my uncle, John Dancer, that built the Gregory Bank at its present location.” With a smile, Munsell added, “I used to enjoy depositing my business checks and being asked by new employees over the years if I had an account there!”

Gregory business owner Gordie Kunzelman expressed what many are feeling when he responded, “It will be a sad late summer with the closing of a community bank.” From his perspective, the closing is a “poor decision” and added, “Banking has changed so much in our lifetime, it’s hard for some of us to keep up.”

Once the Gregory bank closes, current staff members will relocate to the Stockbridge branch. 

“Eaton Community Bank is in strong financial condition. All six of our other locations will remain open, and we will be renovating and modernizing all of them soon,” Jewell stated.

Current Gregory branch customers were notified of the closing by mail with details regarding the transition of their accounts and safe deposit boxes. The Night Depository and ATM will no longer be available in Gregory after July 30.

Once the Bank has removed its equipment, it will consider options for disposing of the property.