Countywide : Bank of America to Close 13 Branches in Consolidation Move

By DOUG McCLELLAN

Aug. 15, 1992 12 AM PT

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Bank of America, which merged with Security Pacific Bank this year, will close a total of 13 Bank of America and Security Pacific branch offices in Ventura County on Dec. 11 as part of a systemwide consolidation, officials said Friday.

Customers’ accounts will be transferred to neighboring branch offices that will remain open under the Bank of America name, said spokeswoman Julie Jasper.

The bank has selected branches it believes have better facilities to serve more customers.

“We think that the customers will find out that they are not inconvenienced in any way,” Jasper said.

With the branch closures, the total number of Bank of America and Security Pacific offices in the county will fall from 37 to 24, Jasper said.

One additional Bank of America branch is scheduled to open this year.

Richard Beebe, another spokesperson, said Bank of America expects to eliminate as many as 12,000 of the 91,000 jobs that existed after the merger.

He said the company expects that many of the jobs will be eliminated through attrition, reducing the need for layoffs.

Beebe said Bank of America has not determined how many California branches it will retain of the 1,435 that now operate under the Bank of America or Security Pacific names.

The merger of the two banks is the largest such merger in U.S. history, leaving Bank of America with $190 billion in assets.

Closed Doors This is a list of the branch offices of Bank of America and Security Pacific Bank that will be closed Dec. 11. Customers will be referred to nearby offices.

Bank of America

552 Sespe Ave., Fillmore

223 E. Thousand Oaks Blvd.,

Thousand Oaks

307 E. Ojai Ave., Ojai

1301 Los Angeles Ave., Simi Valley

5800 Santa Rosa Road, Camarillo

Security Pacific

620 Rancho Conejo Blvd., Newbury

Park

737 E. Main Street, Santa Paula

185 S. Mills Road, Suite J, Ventura