First Home to close Theodosia branch

First Home Savings Bank announced Monday that it will close its Theodosia branch June 1. An announcement released by First Bancshares, Inc., the holding company for First Home, said Theodosia branch customers’ accounts will be transferred to the Gainesville First Home branch, next to the post office. Customers also may continue to use online banking and bill pay, Ronald J. Walters, senior vice president, treasurer and chief financial officer, told the Times.

The bank is also closing its branch in Galena.

Mailings have been sent to the affected customers, according to the announcement.

R. Bradley Weaver, chairman and CEO of the company and the bank said, “We looked at the expense of those two branches and looked at the transaction volume and decided it would be in our best interest to consolidate those branches and reduce the costs.”

Walters said it was his understanding that the bank had two employees at the Theodosia branch and both would be “absorbed elsewhere in the bank, maybe in Gainesville.”

The company is headquartered in Mountain Grove.