Great Western Bank Branch to Be Closed

Washington Mutual Inc., new parent of Great Western and American Savings banks, announced Thursday that it will close 85 branches in Southern California beginning early next year.

Of the total, only one will be in Ventura County.

The Great Western Bank at 164 W. Hillcrest Drive in Thousand Oaks will be closed and consolidated into the American Savings Bank at 173 N. Moorpark Road. The consolidation is expected to occur in the spring of 1998.

Officials at Washington Mutual, which operates a seven-state network of financial institutions, said their decision to consolidate the branches was made to increase customer efficiency and will ultimately benefit clients.

“These consolidations will enhance the efficiency of our financial center network, without significantly diminishing the convenience factor enjoyed by our customers,” said Deanna Oppenheimer, Washington Mutual’s vice president for consumer banking.

On Wednesday, the company began sending letters advising customers of the closures. Additional letters will be mailed as the closing date nears.