Bear Creek’s only bank branch closing

BEAR CREEK    -  The Bear Creek branch of BankFirst - the town’s only banking location - will be closing its doors on Oct. 25, with bank officials giving customers and employees the option of transferring to the Haleyville branch before the date arrives.
BankFirst has also decided to close the drive-thru only of its West House branch located in Haleyville on October 25, according to Will Walker, north Alabama region president for BankFirst.
“The size of the branch was really small. In a whole BankFirst footprint, it was the smallest branch of all and there are 40 something branches,” Walker explained about the Bear Creek location.
“When you’re so small, it’s hard to scale it up to where it’s profitable,” Walker added.
Traders & Farmers Bank merged with BankFirst on July 1, 2020, and all T&F locations were renamed BankFirst.  Officials have stressed the same product and services have been in effect throughout the transition.
The T&F bank location in Bear Creek, which had been in operation since the late 1980s  or early 1990s, Walker further explained.

“They had asked us for several years to have a branch there,” he said. “So, our board met and decided to put a branch in Bear Creek.”
Now, BankFirst will be vacating the building by October 25, affecting three employees, as well as the customers who use that location, Walker indicated.
“No jobs will be lost,” Walker emphasized. Those three employees, he added, will have the option of relocating to the BankFirst location on Main Street in Haleyville or to the drive-thru branch on 20th Street, Haleyville, which is six miles from Bear Creek, he noted.
“That’s one of the things we want to make sure is understood.  No one is losing their job,” Walker stressed.
“We have already told those employees they have the option, There is a place here (at the BankFirst location on Main Street in Haleyville) for them.  We hope they come,”  Walker said.
Letters went out to employees and customers on July 25, that the Bear Creek branch, and the drive-thru of the West House branch would be closing, according to Walker.
“According to banking rules, we had to send out a letter 90 days in advance of the closure,” Walker stated.
Bear Creek’s BankFirst customers are being informed they have the option of transferring their accounts to Haleyville and that they will continue to access all of their banking services at the Haleyville location, Walker noted.
“All of those accounts will be transferred here (to Haleyville),  if they choose to stay,” Walker pointed out. “Their checking accounts, savings accounts, CDs will just be transferred from the Bear Creek branch to the Haleyville branch.
“They can still write checks. They can still use their debit cards,” Walker continued. “They can still do anything they were doing, other than visiting that branch.”
Walker stated that the banking industry as a whole has changed since the COVID-19 pandemic, which resulted in  people not coming into branch locations, which were closed at that time,  but doing their banking online at drive-thrus or using ATMs.
“Banking traffic, or in-house banking transactions, are down 30 percent as a whole,” Walker stated. “People are using drive-thrus, they are using online banking. They are using debit cards. They are using Bill Pay.”
When BankFirst vacates the Bear Creek location, they will leave the drive-thru equipment, as well as the interior vault, according to Walker.
“It’s unfortunate that we had to do this,” Walker stated. “There is six miles to Haleyville. We understand that can be an inconvenience for some, but we hope they can make the transition and drive the six miles to Haleyville.
“We have two locations in Haleyville with drive-thru facilities,” he added.

Town preparing for bank closure

The Town of Bear Creek currently has 18 accounts set up at BankFirst, including its water, campground, general fund, fire and police accounts, etc., but all accounts will be transferred to Haleyville, confirmed Clerk Kay Wiginton.
Bear Creek Mayor Rob Taylor stated the town was informed by BankFirst officials the town would lose its only bank about two to three weeks ago.
“I absolutely hate it,” Taylor pointed out. “I wish there could be something done to prevent it but, unfortunately, what I have been told by officials with BankFirst (is that) the decision was made by the executive board, to close this bank.
“It’s going to be different,” Taylor admitted. “Change is inevitable, no matter what. It’s one of those things.  I hate to see any business close, but I think they are trying to make it as easy as possible for customers to remain with Bankfirst.”
Taylor noted he was a BankFirst customer and that his account, along with all other customers who choose to remain with BankFirst, will transfer to the BankFirst location in Haleyville.
“Right now, I have no plans on moving the accounts I have with BankFirst at Bear Creek, I am not planning to move them to another institution,” Taylor pointed out. “I’m happy with BankFirst.  Right now, I have no plans of going anywhere.”
Despite the loss, Taylor assures the public will be working with town officials to recruit another financial institution for the town.
“We need a bank here,“ Taylor stressed. “I understand from a business point of view why BankFirst did what they did. I understand that.
“But that doesn’t mean that somebody may come along at a later date,” he added. “When BankFirst officials came and met with us, they were more than apologetic for what had happened.”
Town officials are hopeful they can acquire the building from BankFirst, town officials said.
“We’ve had discussions with the mayor of the Town of Bear Creek, and we’re continuing to have those discussions,” Walker said about the town possibly purchasing the building after the bank moves out.
The BankFirst building contains two offices, a vault, kitchen, two restrooms, a night deposit and drive-thru area, according to Walker.
“It will be an asset, of course,” Taylor noted. “We’re still talking about negotiations on that.”
If the town can acquire the building from BankFirst, that will be one more step in a major economic development ongoing throughout the town, the mayor indicated.
“We try to fill every building we have here,” said Taylor. “I work every day. The way we look at it, if there’s a building sitting here empty, there’s a potential to put an industry or business in it.  That’s what we need to do to progress our town,” Taylor pointed out.
They are not doing anybody any good sitting there empty,” the mayor continued.
The former water works building is now the location of a new shaved ice business, and a corner lot downtown has been acquired by the town for possible future development, the mayor said.
“Whatever is going to make the positive impact on the Town of Bear Creek for the longest period of time, that is what we’re looking for,” Taylor said. “We want whatever is best for the town, in the future, as long as we can foresee it.”

West House branch remaining open

Walker emphasized that the drive-thru only at the West House branch will be closing, but the actual bank will continue operations.
Employees at the West House branch include two tellers and seven other bank personnel, Walker said.
The transaction count for the drive-thru at the West House warranted that it be closed, he said, adding customers are already using drive-thru locations on Highway 195 across from the Baptist Church, as well as the downtown location.
The two tellers at the West House branch will also be transferred to the downtown location, according to Walker.
Retirements expected at the downtown location can be filled by personnel transferring there from the Bear Creek location or the tellers from the West House, so this will be handled by attrition, Walker explained.