Branch rightsizing at Atlanta-based SouthCrest Financial Group Inc. will include the consolidation of the bank's Tyrone branch into its Fayetteville offices.
In addition, operational employees in the Thomaston operations center will transfer to the main building. The changes are expected to bring annual savings of $500,000 to $600,000, fully phased in in the second quarter of 2018. No layoffs will accompany the consolidations.
The initial accompanying cost is pegged at $1.6 million, and SouthCrest expects "slightly negative" fourth-quarter results, pretax, according to the press release.