Community Bank in Morris To Close

By TERESA WINCHESTER
MORRIS

The Village of Morris has enjoyed having an operating bank at 132 Main Street since 1856. However, 167 years of local banking services will soon come to an end. A letter dated October 13 announced Community Bank, N.A.’s intention to close its Morris branch effective January 19. CBNA will, the letter said, “consolidate our service capacity into our nearby branch located at 434 Chestnut Street, Oneonta, NY.” The Oneonta location is 14 miles from the Morris branch.

The letter went on to say that the bank remains highly committed to its communities, seeing the changes as “the best way to efficiently provide service to our customers.” This statement was followed by six bullet points providing information about the change in services. It assured customers that they “don’t have to do a thing” with regard to their current accounts and that any of the bank’s more than 200 other facilities “will be happy to help you with your banking needs.”

For those with safe deposit boxes, CBNA is offering a box at another location, free of charge for the first year providing bankers contact a customer service representative at the Morris branch before January 5. Those utilizing the night depository are advised to “make arrangements for access at another nearby branch.” The final bullet point encouraged customers to enroll in online or mobile banking, affirming “our digital tools and telephone options allow you to bank from anywhere.”

The letter was signed by Hal Wentworth, senior vice president for retail banking, who may be reached at (315) 445-7338.

Despite CBNA’s assertion that customers would be “happy to know” about the changes outlined in the letter, neither local residents nor business owners appear happy about the news. Across the board, they have expressed concerns about the elderly of the community who do not drive, those who are not computer-savvy enough to do online banking or who simply prefer not to bank online, the thriving local Amish population (none of whom drive), treacherous winter road conditions, and the fate of the bank’s current employees with whom, many say, the community has enjoyed cordial relations over the years.

Businesses in Morris banking at Community Bank include, but are not limited to, Dollar General, The Gatehouse Coffee Shop and Mercantile, Mirabito’s, Shear Expression, Gates-Cole Insurance, Morris Insurance Agency, Sunburst Reflections, Weaver’s Farm Market, and Colonial Ridge Golf Course.

“Up and down the whole Butternut Valley, it will have a significant impact, not only on the businesses but also on the residents. It’s not only about the banking part but also the travel. The bank is not exactly a meeting place, but it’s a foundation of the whole town,” said Peter Martin who, with his parents Arlene and George Martin, owns Sunburst Reflections at 128 Main Street.
“They tout that they are a community bank but best-ranked banks don’t leave people high and dry.

There should be some obligation of them working for us,” said Arlene.

“I have appreciated Community Bank. If it moves, I hope another local bank will give good service to the local residents, which depended on the Morris branch,” said Daniel Weaver, owner of Weaver’s Farm Market on East Side Road.

Businesses in locations other than Morris will also be affected.

“It’s annoying to have to go somewhere else to do our deposits,” said Cole Covington, co-owner with his wife, Heather, of Five Kids Bakehouse in Gilbertsville.

Jason Cianciotto, who moved to Morris in 2022, is particularly disappointed about the bank’s decision to move.

“When my family and I had an opportunity to create a trust for my son, who had won a law suit, we wanted to support a local bank and be able to walk in and talk to the local employees. Now I feel I’ll have to take my business elsewhere,” he said, adding that much of what brings a community together is having local businesses.

Facebook’s “Morris Announcement Page” was full of concern about the closing.

Directing her comments to Community Bank, Danielle Fusco posted, “As a community member of Morris, NY and a customer of Community Bank, it saddens me deeply that you will close our neighborhood’s bank. You are hurting the individuals of our small community. Not only is the staff there wonderful and helpful to our community, some of them will be losing their jobs! Our small businesses and elderly will be the ones hurt for your ‘business transaction,’ yet you post things like, ‘we are deeply invested in the communities we work (for)’ and ‘Going the extra mile for our neighbors.’ Tell me how this will help our small community!”

“They call themselves ‘Community’ Bank and are pulling out of all the small communities, and in the letter I received as a customer they stated that it was to more efficiently serve. Neither makes sense to me,” wrote Jill Foerster.

“I have a friend with no transportation, who is scared about how she will be able to do her banking. I’m not a customer, but even I have been glad to have a notary available, a place to make change when I’m paid with bills too big for small stores to handle. They say that online banking is cutting down their business, but it is often the case that online banking has been done because a local bank has closed its doors—rather circular thinking on their part, and not the wish of local customers at all. I can’t imagine small businesses, or large ones for that matter, would easily consider Morris as a place to establish themselves without a bank here,” wrote Carol Nealis.

Customers were also quick to express appreciation and concern for the bank staff.

“I want to personally thank all the wonderful employees for the incredible service they provided, both personally to me and for my business. I will miss all your smiling faces. My hope is that Community Bank will find other locations for you to provide the great service you have provided me,” Michael D’Amico stated.

“I think of how the employees make such a significant addition to our lives, their support of events like the angel trees at Christmas and other charitable ventures,” Carol Nealis also wrote in her Facebook comment.

The bank’s lobby currently displays more than eight trophies and several certificates of achievement awarded to the Morris branch over the years. These include “Top Performer” awards in several categories and being named a “District Champion” in 2021 for “Best Overall Year-over-Year Growth.”

The fate of the bank building itself is concern for some residents.

“In addition to being concerned about the lack of a bank in Morris, Gary and I are very concerned about the future use of this beautiful stone building at the four corners of our Historic District, which is on the National Register of Historic Places,” said Stacia Norman, who, with husband Gary, is a trustee of the Morris Historical Society.

The edifice was built around 1830 and used variously as a general store, a hat store, shoe store, harness shop, and post office before Moore’s Banking House began occupancy in 1856, Norman said.

A petition to keep the bank open was left at several businesses on Main Street, including The Gatehouse Coffee Shop, Sunburst Reflections and the Post Office. To date 104, people have signed the petition.

A yard sign on a property adjacent to the bank reads “Save Community Bank” and gives CORPCOM@CBNA.com as a contact.

Jennifer Wynn e-mailed CORPCOM.

“It seems the decision to close the Morris NY branch was made on paper, not actually coming to the location to see how the bank is the cornerstone of this very small and very rural community,” Wynn wrote. She went on to enumerate concerns similar to those expressed by others, closing her appeal by asking, “If you still want to go through with the closure, put the building up for sale so another local bank can purchase the building to help the Morris community, do not be greedy and just let the building rot. This small, but very active community depends on a bank, make the right decision and keep the branch open, or be community minded, like in your name and descriptions on your website, and offer another local bank to come in.”

The response she received from “Amanda M” echoed Wentworth’s letter, characterizing the move as “the best way to efficiently provide services to our customers,” recommending its “over 200 facilities as ready to assist with banking needs, and promoting online banking.”

The Butternut Valley Alliance, whose mission is “to encourage the Butternut Creek watershed to become a better place to live, work, and play,” issued a statement through its chair Edward Lentz, who is also the supervisor of the Town of New Lisbon.

“In our view,” the statement said, “the closing of the bank is going to make things harder for residents, not better. This closing not only affects the individuals and businesses up and down the valley, but also the towns and villages (New Lisbon, Morris, and Butternuts) who do their business there. As an alliance, BVA will be working with those community leaders and others to organize efforts to change the bank’s decision. We support the grass-roots petition signings and letter-writing campaigns.”

The statement also said that the BVA would “identify other ways business and community leaders might make an impact, such as exploring alternative banking options.”

The closing of the Morris branch follows a national trend. Writing for a September 26 issue of “The Kiplinger Letter,” Rodrigo Sormeno states, “U.S. banks continue to shut down branches in numbers not seen since the initial wave of bank closures in 2008, while allocating funds for new online technology. Banks are closing branches faster than they’re opening new ones.”

The trend will likely continue as banks face staunch competition for deposits and younger customers from online banks, fintech firms and Big Tech.”

However, in a May 8 edition of the same publication, Erin Bendig wrote, “According to a new study released by UserTesting, 83% of respondents prefer traditional banks over online banks, largely due to a preference for speaking to a bank teller face-to-face.”

Curiously, the study found that “consumers—especially in younger generations—crave the in-person benefits traditional banks provide.”

Within the past two years, Community Bank has also closed branches in Otego, Milford, Schenevus, Downsville and Fleischmanns.

Community Bank touts itself as being the “6th most trusted bank in the nation.” In 2023, the bank received recognition from both “Newsweek” and “Forbes,” being named one of “America’s Most Trusted Companies” by “Newsweek” and Statista Inc., with Community Bank ranking among the top 50 banks in the nation. Community Bank was also recognized by Forbes in two categories, being named among “America’s Best Banks” for the 14th consecutive year and also one of Forbes “World’s Best Banks.”