Banking option search ongoing

Published 12:00 am Tuesday, March 18, 2008

Staff report

VALLEY GRANDE &8212; Officials continue the search for a new banking option.

The city&8217;s only bank, BankTrust, located at the intersection of Ala. Hwy. 22 and County Road 16, will officially close May 9. At Monday&8217;s Valley Grande City Council meeting, Mayor Tom Lee reported the ATM inside the Valley Grande Market will be removed as well.

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Lee said he received notification from the bank about 10 days ago, citing &8220;a great lack of participation&8221; being the reason for the decision.

The search has already begun for a replacement.

The bank&8217;s local office space is not owned by the city and its business license is based on total assets accumulated from the community.