Three building society branches in Spalding, Market Deeping and Bourne are to close as part of an overhaul by a leading high street name.
Yorkshire Building Society, which runs Norwich and Peterborough (N&P) Building Society, has announced its plans to shut 48 branches across the UK due to the rise of online banking.
N&P branches in Sheep Market, Spalding, North Street, Bourne, and Market Place, Market Deeping, are among the branches listed for closure.
Mike Regnier, Chief Executive of Yorkshire Building Society, said: “The driving forces behind the proposed branch closures are shifts in market conditions and an increasing desire among customers to transact digitally, rather than on the high street.
“Therefore, we no longer believe it is the right commercial position for us to continue to maintain these 48 branches across the N&P and Yorkshire Building Society network.
“The N&P brand has been part of Yorkshire Building Society since 2011 and, inevitably, some of our colleagues and members will be disappointed by these proposals.
The N&P brand has been part of Yorkshire Building Society since 2011 and, inevitably, some of our colleagues and members will be disappointed by these proposalsMike Regnier, Chief Executive of Yorkshire Building Society
“However, the values of the N&P and Yorkshire brands are synonymous and we believe that by operating with Yorkshire Building Society as our sole high street brand, it will allow us to run the business more effectively and efficiently, enabling us to deliver better products and services for our members.”