As a result of the Durbin Amendment, the Laredo, Texas-based International Bancshares Corp. will close 55 branches in Texas on December 28, resulting in some customers driving an additional 79 miles to get to their nearest branch.
Seventeen Houston IBC Bank locations will close, including the HEB in-store Bryan branch in Bryan. The nearest location to that branch that will remain open is at the Kroger Eldridge, which is 79 miles away. The Kroger Eldridge branch will also be the closest, at 73 miles, to the closing College Station branch.
Customers of the HEB in-store Campo branch in El Campo will have to travel more than 56 miles to the Sugar Land branch once the closings take effect, while customers of the Kingwood HEB in-store branch face drives of 27.6 miles to the nearest location that will stay open in Houston.
Other HEB in-store locations slated to be shuttered include the Barker Cypress branch in Cypress, the Bay Colony branch in League City, the Beechnut branch in Houston, the Bryan branch in Bryan, the Cinco Ranch in Katy, the Fairmont Park branch in Pasadena, the Gulfgate branch in Houston, the Kempwood branch in Kempwood, the Louetta branch in Spring, the Park Row branch in Houston, the Sienna Plantation branch in Missouri City, the Stuebner branch in Spring, the Wharton branch in Wharton and the Woodlands branch in the Woodlands.
Additional Houston-area branches set for closing include the HEB Bear Creek branch in Houston and the Randall's in-store branch in Galveston.
In addition to the closings, IBC expects to lay off approximately 500 workers.
"Government many times passes regulations that end up hurting the very people they were intended to help," International Bancshares Corp. chairman and CEO Dennis Nixon said. "This appears to be one of those cases.