Citizens closing longtime bank branch on Main Street in Warren

THE CITIZENS BANK branch on Main Street in Warren was an Old Stone Bank location when it was constructed in 1967 and was taken over by Citizens in 1994. It will close on March 19, the bank says. / WARREN TAX ASSESSOR DATABASE SCREENSHOT

PROVIDENCE – Citizens Bank continues to trim its branches, notifying a federal regulator that it plans to close its location at 251 Main St. in Warren after an earlier announcement that Citizens Financial Group Inc. would be closing 15 branches in six states.

The bank, the state’s largest by deposit market share, confirmed that the standalone branch will close on March 19, and customers will be direct to use the Citizens location at Barrington Shopping Center on County Road, which the bank said is less than 2 miles away.

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“We’ve been on a journey at Citizens to evolve how our customers bank with us, and we continually review customer patterns to evolve and adjust branch strategy across our network,” Citizens said in a statement. “We remain committed to the branch network as a critical distribution channel for our customers.”

In October, Citizens notified the U.S. Office of Comptroller of the Currency that it was closing branches in six states, including a branch at 275 Newport Ave. in East Providence. It was scheduled to close Jan. 22 and, at the time, was the only branch closing listed in Rhode Island and Bristol County, Mass.

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In 2020, Citizens closed about 40 branches in Rhode Island and Massachusetts that were located in Stop & Shop supermarkets. Seven of the closures disclosed in October were branches located in grocery stores, although the 275 Newport Ave. location was a standalone branch.

The 2,356-square-foot brick building and parking lot at 251 Main St. in Warren has been a bank branch since it was constructed in 1967, according to the R.I. Historical Preservation & Heritage Commission. It was initially an Old Stone Bank but changed hands when the failing institution was acquired by Citizens in 1994.

The property is assessed by the town at $986,400 and is owned by Legacy Lookout LLC, according to Warren tax records. The manager for Legacy Lookout is Michael L. Price, a principal in Boston real estate firm Legacy Real Estate Ventures.

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