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Source: FNB Coweta
Tim Sadler, President of FNB Coweta, announced today that Wagoner County’s oldest family-owned bank is selling its Oneta branch location at 10097 S. 241st East Avenue.
The branch has 5 employees, a number of whom are expected to assume positions at FNB Coweta’s main bank or drive-through facility.
Sadler anticipated the transaction will close in October. Since details of the purchase agreement are still being finalized, he said he was not able to reveal the name of the buyer at this time.
Board Chairman Gregory Graham said the decision to make this move reflects the changing profile of the financial services industry in the U.S. and around the world.
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“When banking was conducted almost exclusively on a face-to-face basis, the branch bank operating model made sense. With the growth of mobile banking and the popularity of online banking products and services, that scenario is changing. Customer research shows acceptance of mobile banking as a primary source of contact has grown to nearly 50%. And it continues to grow. By 2025, experts predict mobile banking will be a $3 trillion global industry,” Graham said.
Given the reality of these changes, Sadler said one of FNB Coweta’s primary focuses is staying on top of new online product offerings and emerging technology. For those who prefer the face-to-face approach, he noted FNB Coweta’s main bank and drive-thru are located just seven miles south of the branch location.
“When our founders introduced family-owned banking to Coweta and Wagoner County in 1903, it was with a firm commitment to provide the finest in financial services to this city and surrounding communities. The action we are taking now is very much in keeping with that commitment,” Sadler said.
