The Co-operative Bank will be closing its only Lincolnshire branch later this year.
Co-op Bank Lincoln on Saltergate will officially close at 1.30pm on Thursday, May 24.
The closest branch will now be located in Nottingham.
This closure is in response to a continued change in how customers choose to bank.
According to the Co-operative, in the past year a significant number of customers have switched to digital banking and transactions carried out in branch have decreased.
Heather Lauder, Chief Banking Operations Director at The Co-operative Bank said: “This decision has not been taken lightly and we realise this may be difficult news for some colleagues.
“However, like many banks, the proposal reflects changes in the way our customers are choosing to bank with us, which has continued to accelerate as customers increasingly undertake more of their transactions online or via contactless payments.
“Our branch network remains an integral part of our overall customer service offer and we have been investing in those branches that are well used.
“At the same time we are investing in our digital services to provide customers with new ways to service their accounts such as web chat and secure messaging, and introducing digital wallets such as Apple Pay, Android Pay and Samsung Pay as they continue to demand access to banking services at their fingertips.
“We’re committed to continuing to provide the high levels of service that our personal and business customers have come to expect from us and we will seek to minimise the impact on our customers.
“We are writing to affected customers to provide information about the alternative options available to them, as well as our online and mobile banking facilities, the closing branch is within one mile of a Post Office branch where customers can undertake most day to day transactions.”