The mayor of Grand Bank is decrying the “despicable and shameful” decision by Scotiabank to close its branch in the town.

In a social media post today on the eve of the permanent closure, Mayor Rex Matthews also called the decision “unfortunate and regrettable.”

Scotiabank announced last year it was shuttering numerous rural branches as part of nationwide restructuring, including the elimination of about 2,700 jobs.

Grand Bank joins about a dozen other communities, such as Burin, St. Lawrence, Fortune and Fogo Island, which have all seen their branches close in recent months and years.

“While online banking has been a major contributor to the demise of many branches, there are still many people and businesses that are going to be very inconvenienced by this appalling decision,” stated Matthews. “There were options the corporation could have considered instead of outright closure. However, Scotiabank was not open to discussions on any other option than to close the branch.”

Matthews had kind and sympathetic words, however, for the branch staff, acknowledging the decision was out of their hands.

“The town would like to extend a sincere thank you to the current staff of Scotiabank, and all former employees of this branch, who always delivered quality service. The branch was always efficient and effective, and they treated their customers with dignity, respect, kindness, courtesy and patience.”

Matthews said the big banks appear to have free rein to do as they please.

“Scotiabank answers to no one, including the federal government, which grants them charters to operate. The corporation realizes hundreds of millions of dollars in profits each year and yet they continue to close branches across Canada

“This is a sad loss to our community, and we have Scotiabank to thank for this shameful decision.”