Sunwest Bank to close Downtown branch

zkyle@idahostatesman.comMarch 13, 2014 

Sunwest Bank bank is closing its Downtown Boise branch at the One Capital Center about six weeks after taking over Boise-based Syringa Bank.

Sunwest CEO Chris Walsh said four of the five employees working at the closing branch will move to other branches. He said the bank couldn't justify paying for the branch, which is nearly 6,000 square feet. Walsh said branch will close by the end of May.

"Most of the offices were empty offices," Walsh said. "6,000 square feet is gigantic considering today's traditional office space is about 2,500 square feet."

Walsh said Sunwest customers who frequented the Downtown branch can make a six-minute drive to the bank's location at 1299 N. Orchard St., which has more deposits.

Sunwest acquired Syringa in early March after the failed bank was shut down by state regulators. Sunwest took over all five Syringa branches in the Treasure Valley as well as its Lewiston branch.

Walsh said he's told the 46 Sunwest employees in the state that he doesn't foresee future branch closures.

"I'm an honest, upfront person," Walsh said. "I told them five employees in 6,000 square feet facility doesn't make any sense."

 

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