The Great Western Bank in Colman will officially close its doors this week after having been in business in town since 2016. Friday will be its last official day of business.
Local customers were notified weeks ago of the change and told their accounts, should they choose to stay with the bank, would be transferred automatically to the Madison branch. There are four other branches nearby, including Brookings, Dell Rapids, Crooks and Sioux Falls.
In an inquiry by the paper about the closure, we received essentially the same statement that had been delivered previously to local customers.
“There are many business considerations that go into closing a branch bank. While these decisions are never easy, we look forward to servicing our customers from our branch in Madison, South Dakota, through our online and mobile services, or at any of our other locations in eastern South Dakota.”
Despite the loss of Great Western, Bank West is currently hiring staff for a new Colman branch. More on the history of banks in the community, why Bank West is making the investment as another bank pulls out and the potential for growth in Colman, in next week’s Enterprise.