Sierra Bancorp, the parent company of Bank of the Sierra, permanently closed five branches, including two in San Luis Obispo County, in mid-June.
The Porterville-based bank’s branches in Atascadero and Arroyo Grande closed on June 18. In its April quarterly financial report, the bank said it planned to close branches that were located “outside of the bank’s primary market area” and found that in-person transaction volumes no longer warranted a traditional brick-and-mortar branch.
Sierra Bancorp reported that it expects to save between $800,000 and $1 million with the closure of the five branches. The bank still has locations at Paso Robles, Pismo Beach, San Luis Obispo, Lompoc, Santa Barbara, Fillmore, Ojai, Santa Paula and Ventura.