Despite experiencing growth across Texas, Frost Bank has announced the closure of four Rio Grande Valley locations, effective in November, according to a company spokesman.
Frost, which operates 135 branches across the state, filed closing documents with the Texas Department of Banking in August to shut its doors at locations in Weslaco and Mission, as well as in east Harlingen and the Nolana location in McAllen.
This leaves five branches in the Valley Frost will keep open, with two in McAllen and one each in Brownsville, Harlingen and Alamo.
“We are definitely committed to doing business in the Valley,” said Bill Day, corporate media relations director at Frost. “We’re not leaving the Valley.”
As many as 44 employees from the closing branches may relocate to another facility. Some, however, may instead receive a severance package, according to Day.
When asked what prompted the action, he said Frost aims to find the “right balance” with regard to the number of locations in the Valley.
Day confirmed a new state-of-the-art facility will eventually open in the Mid-Valley.
Frost now joins other banks which have closed branches in the Valley. Capital One announced the closure of all Valley branches earlier this year.