Dime Community Bancshares in Hauppauge, N.Y., plans to close five New York branches.
The $13 billion-asset company said in a press release Tuesday that it will close three branches in Brooklyn and one each in Southampton and Wading River.
“We regularly review our distribution channels and these combinations are part of our ongoing efforts to improve the efficiency of our branch network,” Kevin O’Connor, Dime’s CEO, said in the release.
“Each location will be combined into a nearby branch, thereby minimizing customer disruption and allowing us to continue to serve our customers’ needs,” he added.
The announcement comes a day after Dime said it had sold $585 million of Paycheck Protection Loans.