Household Bank closing 11 branches

December 01, 1990|By Peter H. Frank

Household Bank FSB said yesterday that it will close three of its branches on Dec. 31 and eight of the nine branches formerly owned by Yorkridge-Calvert Federal Savings Association on Feb. The shutdowns add to a string of recent bank-branch closings. More than three dozen branches have been closed this year following Household's purchase of the deposits at Baltimore Federal Financial FSA and the merger of Equitable Bank into Maryland National Bank.

Household took over the insured accounts of the failed Yorkridge-Calvert in September. It said the Yorkridge-Calvert branches will be closed because Household already owns offices near the failed thrift's branches.

The three Household branches scheduled to close Dec. 31 also are being shut because the thrift already has other branches nearby, said John G. Moran, president of Household's Eastern Division.

"We look at our branch network to provide customers with the maximum possible service," Mr. Moran said. "Since these branches were very close to one another, by consolidating those branches into our branches which have extended hours, we can offer those customers both convenience and enhanced service."

Mr. Moran said the only office from Yorkridge-Calvert that will remain open is the thrift's former headquarters on Old Court Road in Pikesville. The remaining properties will be returned to the Resolution Trust Corp., the federal agency in charge of operating and disposing of the nation's insolvent thrifts.

At the time of the closings, Mr. Moran said, the branches' deposits automatically will be moved to the existing Household branches with no interruption of service.

After the closings, Household, which is based in Newport Beach, Calif., and is a subsidiary of Household International Inc., will have 24 branches in the Baltimore area and nine in Virginia.

The company bought nearly $900 million in deposits from the defunct Baltimore Federal Financial FSA in April and recently agreed to purchase the deposits of the Towson office of Municipal Savings Bank FSB, a unit of Baltimore Bancorp.

Household closed 16 Federal and Household branches in Baltimore this summer following its purchase of Baltimore Federal.

Mr. Moran said Household will meet with employees to discuss possible transfers and that it was too early to know whether layoffs would result from the branch closings.

Bank branch changes

1'Yorkridge-Calvert branch staying open:

3725 Old Court Road, Pikesville

Yorkridge-Calvert branches closing Feb. 8, 1991

6429-A Kenwood Ave., Baltimore

3 N. Calvert St., Baltimore

8600 Liberty Road, Randallstown

526 Baltimore Blvd., Westminster

32 W. Pennsylvania Ave., Towson

6800 Loch Raven Blvd., Towson

1700 Reisterstown Road, Baltimore

10130 York Road, Cockeysville

Household Bank branches closing Dec. 31

6435 Dobbin Road, Columbia

11312 Reisterstown Road, Owings Mills

1012 Joppa Farm Road, Joppatowne

SOURCE: Household Bank

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