A sign of the economic times has shown up in Covington, where business is generally good compared to many other areas.

The Anchor Bank branches in Covington and Poulsbo are closing their doors. According to an e-mail forwarded to the newspaper, which was signed by Jerald L. Shaw, chief executive officer, the two offices will close but “deposit and loan rates will not be impacted.”

The Covington branch is located in the Walmart store at 17432 S.E. 270th Place. Anchor Bank’s headquarters are in Aberdeen, Wash.

According to the e-mail, the Covington and Poulsbo offices are closing May 31.

The e-mail stated:

“Based upon current economic conditions, Anchor Bank has reviewed production and profitability in all areas. In order to contain costs and still provide Banking Beyond the Ordinary to our markets, it has been decided to consolidate the Hawks Prairie Branch with the Lacey Branch and the Spanaway Branch with the Puyallup branch. At the same time, the Covington and Poulsbo offices will be closing…. No further closings are anticipated at this time.”

The e-mail also pointed out there would be no changes to “account numbers, debit cards or anything that affects banking with Anchor Bank.”

The closing of the branch was confirmed by Lori Johnson, public relations spokesperson for Anchor Bank.

“It’s unfortunate, but it was a business decision,” Johnson said. “We are committed to assisting our employees and customers.”

Johnson said the employees in the branches that are closing will be able to apply for jobs in other branches, “but unfortunately there may be some layoffs.”