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Tri-State Bank issues statement on closing of Kroger on Lamar Avenue

When a store like Kroger closes its locations, thoughts immediately go to where people will shop for food, or where they will get prescriptions filled.

But at the Kroger on Lamar Avenue in Memphis, which is set to close Feb. 3 due to business losses, there’s another concern: Where will people bank?

Tri-State Bank, Memphis’ oldest African-American owned bank, operates a service center at the location, and with the entire building shutting down in less than a month, some customers will be scrambling to know how they’ll continue to bank there.

TSDMemphis.com received a statement from Lucy Shaw, Chairwoman of the Board of Tri-State Bank of Memphis on the closing:

“We learned of the unfortunate closing of the Kroger Store on Lamar, which houses our in-store bank, essentially at the same time as the general public. We are certainly concerned, as we have been privileged to provide banking services from this location to the Orange Mound and surrounding communities since 1989…almost 30 years!

“Whenever we presume as a bank to close or relocate a branch there are significant regulatory requirements which must be met. In this instance, the decision and the timing are outside our control. However, we are working diligently on solutions to provide the least inconvenience and best possible service for our customers.

“What we do know right now is that our newly renovated facility in Whitehaven at 4606 Elvis Presley Blvd is prepared to receive and assist all of our customers. Customers may direct any questions about service to Mr. D. Davis, CEO at 901-525-0384.”

TSDMemphis.com will continue to follow this story as it develops.

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