SunTrust Banks will close its five remaining West Virginia branches, all of which are housed in Kroger stores in Kanawha and Putnam counties.
Hugh Suhr, a spokesman for SunTrust, confirmed the closings in an email last week, saying the decision came after “careful study and analysis.” He said he couldn’t provide specifics on when the branches will close or how many employees would be affected.
The Kroger stores housing SunTrust branches in West Virginia are the Ashton Place and the Shops at Kanawha locations in Charleston, the Riverwalk Mall store in South Charleston, and the stores in St. Albans and Scott Depot.
“SunTrust, like all banking companies, must constantly refine its branch network to meet the changing needs and transaction patterns of clients, as well as take into account their increased usage of newer delivery channels, such as Internet Banking and Mobile Banking,” Suhr said.
He said the company will notify clients about the timing of these closings “well in advance” of when they occur. He said clients can stay with SunTrust through mobile, Internet and telephone banking methods.
SunTrust, based in Atlanta, operates branches and ATMs throughout the eastern United States.
In 2004, SunTrust bought National Commerce Financial Corp. in a nearly $7 billion deal. The deal gave SunTrust its first presence the West Virginia market, taking over the offices of a National Commerce Financial subsidiary in the state.
A standalone SunTrust branch on 300 Capitol St. in Charleston closed in January 2017, according to SunTrust.
In an earnings report published this January, SunTrust CEO William Rogers Jr. said 2017 was “a very strong year for SunTrust” and expressed confidence that 2018 would continue that trend.