Home Federal Bancorp Inc. the parent company of Home Federal Bank, said Friday that it would close four branches in Oregon.
President and CEO Len E. Williams said the closures are a cost-cutting measure.
"Our decision to consolidate four branches into nearby locations is a direct result of evaluating how we can continue to offer top-quality banking services at competitive rates and prices," Williams said. "With more clients utilizing electronic banking services, it just makes sense to consolidate branches that are near one another.
"This should have minimal or no impact on our clients, and many of our team members affected by the consolidation will have opportunities to apply for other positions within the bank."
The company estimates the branch closures will reduce pre-tax income from operations by $539,000 for the quarter and fiscal year ending Dec. 31 but will reduce expenses by $1.2 million a year thereafter.
The closures affect two branches in Bend and one each in Grants Pass and Medford.
Home Federal has 28 branches in southwestern Idaho and central and western Oregon.
The bank expects the closures to be complete by Feb. 28.