Denver’s National Bank Holdings Corporation is closing 12 of its branches, according to filings with the SEC.
Three of the 12 are in the Kansas City area, part of a total eight closing from NBH’s Bank Midwest brand, according to the Kansas City Business Journal. Bank Midwest branches operate in Kansas and Missouri
The other four will come from NBH’s two other divisions, Community Bank of Colorado in Colorado and Hillcrest Bank in New Mexico, Texas and Utah.
NBH will save about $3.5 million annually as a result of the closings, expected to happen by the end of the year. Branches will consolidate with nearby offices within the NBH footprint, the bank said.
The move is driven by NBH’s “increased focus on balancing physical locations and digital banking channels, driven by increased client usage of online and mobile banking and a commitment to improve digital banking technology,” the company said.
NBH expects to incur total pre-tax expense related to the consolidations of approximately $2.5 million, including approximately $2.2 million related to facilities expense.
The $6 billion NBH has 101 branches in Colorado, Kansas, Missouri, New Mexico, Texas and Utah.