I believe I read that closing these 23 branches would save approximately $4.4M. I suspect a combination of BXS/TRMK could close a like number, not to mention the vast savings from operational consolidation. The synergies would be huge!
The rest of the story. While bank management touted the big savings to be realized from the announced branch closures, they failed to mention the massive write downs that will be taken in future quarters on these worthless pieces of real estate. Is any other bank lining up to lease or purchase these underperforming, geographically challenged locations?