With technology constantly changing the way customers are interacting with their “teller,” Mission Valley Bank is closing doors on a Valencia branch while it develops its “branch of the future,” officials said Thursday.

The lease on the bank’s W. Avenue Stanford location expires March 28, and the bank is consolidating in-person service — as well as some community outreach — to its Centre Point location on Carl Boyer Drive, according to bank founder and CEO Tamara Gurney.

“Technology has really changed the banking industry,” Gurney said, citing a few of the innovations in mobile banking over the last decade or so. “In our world, your branch is in the palm of your hand. When you look at location — where not that long ago there was a bank on every corner — now, you have to think about retail space (efficiency).”

The temporary reduction in storefront square footage isn’t a reflection of a problem with bank operations, she said.

The bank announced Thursday its first cash dividend of 5 cents per share on its outstanding common stock. The dividend was approved at the regularly scheduled Board of Directors meeting held on Feb. 24. The dividend will be payable on or about March 27 to common shareholders of record as of March 16.

Bank officials are reaching out to their clients, constituents and the community to make sure the space fully meets customers’ needs before the bank decides to invest in its next location, she said.

Gurney regrets the layoffs associated with the move, but the bank’s 4,000 square-foot space didn’t really match up with the direction the industry is moving, she said.

While the business industrial park makes sense as a location for a bank that prides itself on service to small-business owners, Gurney said, it’s tucked-away locale off Avenue Scott made it a “destination” branch, a less than ideal spot for many of the bank’s customers.

“It gives us a chance to thoughtfully evaluate what the branch of the future looks like, rather than just finding another storefront location and opening up shop,” Gurney said. “We want to talk to our clients and get a better feel for what they want in that delivery channel.”

While technology and convenience are constantly changing customer need, for certain transactions, customers want face-to-face interactions, and the personal touch is what Mission Valley hangs its hat on, she said.

She likened certain bank transactions to buying a car, which is something her bank helps its customers do.

“You can even put the car together online,” she said, “you can customize it, and you get a 360-degree view of it, but ultimately you go buy it from a dealer in the showroom.”

What the bank’s next “showroom” will look like, whether it’s a streamlined version of the traditional brick and mortar or closer to a kiosk-style configuration, will be influenced by what the bank hears from the community, she said.

She offers her direct line to customers and potential clients alike, she said, in an effort to gain input.

“If you can dream up the best solution for your branch, what does it look like,” she said, discussing the dialogue she’s been having. “We are working toward figuring out what is the best solution to serve the west side of the valley.”

Customers interested in contacting CEO Tamara Gurney regarding feedback should contact her at Mission Valley Bank at 818-394-2330.

About Mission Valley Bank

Mission Valley Bank is a full-service, independent, commercial bank specializing in the banking needs of small to medium businesses in the San Fernando & Santa Clarita Valleys. The Bank was chartered in July 2001, with a vision of local ownership and a commitment to providing financial solutions to meet the needs of its clients.