MCKENNEY, Va., April 17 /PRNewswire-FirstCall/ -- Bank of McKenney (Nasdaq: BOMK) today announced that it has finalized its plan to consolidate its two southern Chesterfield County offices on June 1, 2007 . On that date, the Bank will be closing the Ettrick branch and reassigning accounts to the Matoaca office located merely two miles west at 6300 River Road in the Matoaca village. The decision to close the Ettrick office was not an easy one and was reached only after careful study. The addition of the Colonial Heights location (less than 3 miles north) at 3115 on the Boulevard in 2003, coupled with the existing Matoaca office built in 1998, substantially reduced the volume of transactions being processed by Ettrick. Simply put, much of the deposit base and customer traffic once derived from Ettrick now find the more secure night depository drop, expanded drive through facilities and ATM availability of the newer branches more convenient.

Ettrick customers were notified of this decision earlier this year, and branch closing procedures are currently being followed leading up to the closing date. Any of the Bank's locations can service customer needs; however, accounts are generally assigned to the location at which they were opened for tracking and reporting purposes. With the exception of safe deposit box holders, the reassignment will require no effort on the part of Bank customers and no account number will change. Safe deposit box customers will receive a letter under separate cover detailing the options available for these relationships. Any customer that desires his or her account reassigned to an alternate Bank of McKenney branch, please contact the Ettrick office at (804) 526-1280 prior to June 1, 2007 .

Richard M. Liles, President and Chief Executive Officer, stated, 'We sincerely apologize for anyone being inconvenienced by this consolidation. Fulfilling the needs of the citizens and communities we serve is among the highest of our primary goals. Though the location may have outlived its viable usefulness for banking needs, we are very pleased to announce Bank of McKenney will not leave a vacant building. The branch is currently under contract, and the buyer plans to transform the location into a true asset to the community.'

Bank of McKenney is a full-service community bank headquartered in McKenney, Virginia with seven branches serving Southeastern Virginia and assets totaling $155.4 million .

SOURCE Bank of McKenney