100 To Be Laid Off; First Citizen Bank Branches To Close

GLENDALE, WI — About 100 people are expected to be laid off in Glendale and Brown Deer after First Citizen Bank announced it will be closing two branches there.

According to a Journal Sentinel report, the bank branches that are closing will be the ones at 4000 West Brown Deer Road in Brown Deer and at 501 W. Northshore Drive,in the Bayshore Town Center, in Glendale. A closing date has not been set by the company.

In May 2017, Guaranty Bank was closed by federal officials, after the bank could not recover from the housing and mortgage foreclosure crisis. A sale agreement brokered by the FDIC means that First-Citizens Bank & Trust Company, Raleigh, North Carolina, assumed all of the deposits of Guaranty Bank.

According to the Journal Sentinel report, First Citizens Bank did not reopen Guaranty Bank's 107 branches located inside grocery stores, but reopened 12 standalone branches in Wisconsin, Illinois and Minnesota.

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