Tombstone to lose the only Bank of America branch in town

Tombstone to lose the only Bank of America branch in town

CREATED Apr 9, 2012


Reporter: Claire Doan

TOMBSTONE, Ariz. (KGUN9-TV)  – Tombstone, “The Town Too Tough to Die,” will soon be mourning the loss of one thing: the only Bank of America in town. Residents and business owners are upset that they’ll have to drive about 15 miles away to the closest branch in Sierra Vista.

Over the past century and a half, the town of Tombstone has survived fires, the demise of the mining industry and countless violent battles – but residents tell 9 On Your Side they now have another reason to worry.

“Corporate America doesn’t really care about the people, doesn’t care that there are 1,500 people who are living here that are going to be stranded,” said Mike Carrafa, a Tombstone business owner.

Bank of America will be shutting its branch on 508 W. Allen Street on July 13 of this year.

Lyn McGowan started a petition to keep the branch open and has been able to gather hundreds of signatures so far.

“I understand the business point of view. I also understand customer service – it’s huge. They need to open other opportunities for the bank to make money,” McGowan said. “It will definitely hurt Tombstone economically when tourists or local people cannot get money.”

McGowan and other Tombstone residents told KGUN9 News the branch closure means: no more daily deposits or change for local business owners at the bank; no money for tourists who need cash – meaning a big dent to tourism; and no customer service from a bank that prides itself on that very thing.

“We have the elderly living here. They don’t have no way of getting to the next bank. Basically, we need this bank and can’t afford to lose it,” said Justin Read, a Tombtone resident.

Although there is a Tombstone Federal Credit Union in town, residents said they prefer a bank.

Bank of America emailed KGUN9 News a statement, saying: “We constantly evaluate our retail network to ensure we are meeting evolving customer demand, and may add or consolidate banking centers as a result.”

The bank said it is notifying customers at least 90 days before the Tombstone branch closes.