Encino Bank Branch to Close Shop, Consolidate in Downtown Office

Bank Leumi USA announced today it is consolidating its three L.A-area branches into one in downtown Los Angeles.

"Bringing the bank's three L.A.-area branches into a single location will provide more efficient, client-focused service to ensure that client needs are met," the institution announced in a statement that included no discussion about cost savings.

The new branch, which is opening today, will be located on the 33rd floor of 555 West Fifth Street. For nearly 40 years, Bank Leumi USA has served the region with branches in Los Angeles, Beverly Hills and Encino. By moving to a single new location, the bank "will strengthen its resources and teams to provide holistic banking and investing services to its commercial and private banking clients," the statement said.

"Bringing our teams together in one location reinforces the services our clients rely on, and offers the support our customers -- and prospective customers -- need in their business and investments today," said Avner Mendelson, president and CEO of Bank Leumi USA.

Bank Leumi USA the largest subsidiary of the Israel-based Leumi Group, which also operates Bank Leumi, Israel's leading commercial bank.

--City News Service