Northern Trust’s Longboat Key branch will close by the end of the year, according to a letter recently sent to customers.
Vice Mayor David Brenner said his condominium, The Islander Club, received a letter recently from Northern Trust, explaining that the company’s Longboat Key branch was closing in December for consolidation purposes.
Diane Muir, senior vice president/managing director of the Longboat Key branch, confirmed Tuesday morning that letters were sent to customers but was waiting to speak to the company’s corporate officials before making further comments.
A Northern Trust spokesman did not return phone calls Tuesday morning.
The letter stated to Longboat Key customers that the Sarasota location was only eight miles away.
Brenner said the loss of a business like Northern Trust on the Key is unfortunate, but called the land where the branch now sits a future opportunity as town officials continue to discuss a town center concept for Bay Isles Road.
The Longboat Key branch is located at 540 Bay Isles Road and is owned by Longboat Key Equities Ltd.
Contact Robin Hartill at [email protected].