MOUNT PLEASANT - Southport Bank announced Wednesday it will be closing one of its area locations.
The Southport Bank at 5220 Washington Road will close Jan. 5, 2011, according to a press release.
The bank cited the weak economy and continued difficult financial times as reasons for the closure, which was decided by the Board of Directors and Management. The bank now plans to focus efforts on four locations in Kenosha County, where the bank originated and where officials hope Racine customers will now go, the release said.
Five employees will be impacted by the closure and Southport Bank is working to place them in other positions within the organization, according to the release.