Oakdale M&I One of 13 Closing Nationwide

As the near opens up at the end of the month, the bank next door will be preparing to close.

After almost five years in business, will shut down in mid-November, said corporate spokesman Jim Kappel.

The branch is one of 13 of the company’s 685 branches to be shut down across the country due to being under-utilized, Kappel said.

BMO Financial Group, the parent company of Harris Bank, acquired M&I July 5, however the acquisition wasn’t the reason for the bank closure, Kappel said.

“It’s just part of a review that both Harris and M&I conducted prior to the acquisition looking at our branch network,” he said.

The company is working with each of the bank’s employees to see if there’s an opening at another bank in the network to which they can transfer, he said. Those who don’t find another position will receive a severance package, he said.

Customers and employees were notified last month that the branch would be closing, he said.

Kappel said he wasn’t sure whether the company owned the building, and what might happen to it.