Local bank branch to close doors in December

Two years after opening a Pagosa Springs branch, Community Banks of Colorado will close it at the end of the business day, Dec. 10.

During a Friday phone interview, branch president Don Thompson confirmed the closing without offering an explanation, saying only that it was a decision by the bank’s holding company, Community Bankshares, Inc.

Since its inception, the office located at 262 Pagosa St. has employed three people.

Thompson affirmed that all area customers have been notified of the closing by mail, and said all deposit and loan accounts will be transferred to the Durango office on East Second Avenue. For customer convenience, he said, free online banking will also continue.

According to its Web site, Community Banks of Colorado currently serves 37 communities throughout the state, including one each in Durango and South Fork, and two in Cortez.

After serving as the Pagosa Springs branch manager for the past year, Thompson will apparently stay with the bank, though the exact nature of his new role remains unclear.

However, according to Thompson, one thing appears certain — while some customers are disappointed with the Pagosa Springs closing, many have said they will continue banking with the organization.