KeyBank consolidating branches, closing downtown tower location

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KeyBank is planning to close its first-floor branch at its self-named tower in downtown Dayton at 10 W. Second St. by mid-May.

“We are consolidating our downtown Dayton branch in Key Tower into our Eastown branch,” a Key spokeswoman said Monday in an email. “We are reaching out to clients to inform them of this change.”

The Eastown branch is at 4000 Linden Ave.

She emphasized: “We will not be closing our downtown offices in KeyBank Tower.”

The consolidations will be effective May 14.

Key will also consolidate its 951 Patterson and 20 W. Whipp roads branches into its Arbor branch, at 4401 Far Hills Ave. in Kettering. The Springfield Burnett Plaza branch (402 S. Burnett Road) will consolidate into the Downtown Springfield branch, at 1 S. Fountain Ave., the bank also said.

No job losses are expected, the spokeswoman said.

The plans are attributed in part to what Key said has been a “steady increase in client preference for digital banking. For example, transactions via online and mobile banking were two times the number of transactions completed at a branch office.”

Added the bank: “Since the pandemic began, those trends have increased at an even higher rate.”

Explore2 area banks to close downtown Dayton branches

Last Spring, CNBC reported data from Fidelity National Information Services, which works with 50 of the world’s largest banks, that showed a 200% jump in new mobile banking registrations in early April, with mobile banking traffic rising then by 85%

In October last year, JP Morgan Chase told the Dayton Daily News it planned to close a Chase branch Dec. 16 in the Stratacache Tower, 40 N. Main St.

A similar message by Richard Lux, district leader in Dayton for U.S. Bank, told customers at about the same time that his bank would permanently close a branch at 10 N. Ludlow St., also downtown.

KeyBank is the anchor tenant in the 27-story building, on a corner of Courthouse Plaza.

In March 2018, the KeyBank tower was placed on the auction block for a second time, after an earlier auction failed to secure a winning bid.

Other tenants in the Key building at the time included Downtown Dayton Partnership offices, the Krumholz law office and more.

Over the years, the tower has experienced a slow drain of businesses. In 2011, law firm Thompson Hine LLP announced it would move its offices from the tower to Austin Landing in Miami Township by the end of that year.

The building was known as the MeadWestvaco Tower until KeyBank gained naming rights to the building in 2008.

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