First Citizens Bank to cut at least 100 jobs in suburban Milwaukee

First Citizens Bank, which took over Guaranty Bank when Guaranty failed last spring, has notified state officials it plans to eliminate at least 100 jobs in two suburban Milwaukee offices.

Raleigh N.C.-based First Citizens said the layoffs will take place in offices at 4000 W. Brown Deer Road in Brown Deer and at 501 W. North Shore Drive in Glendale.

The job cuts, which the company said involve corporate staff, will start June 8 and continue through September, the bank told the Wisconsin Department of Workforce Development. First Citizens' Brown Deer and Glendale branches are not closing, the company said.

Guaranty was closed in May of last year by the U.S. Office of the Comptroller of the Currency. Only the 12 stand-alone branches of Guaranty in Wisconsin, Illinois and Minnesota reopened as branches of First Citizens Bank, and Guaranty's 107 branches located inside stores were to be permanently closed.

At the time of its shutdown, Guaranty, with assets of about $1 billion and around 1,000 employees, was one of the 20 largest banks headquartered in Wisconsin.

An earlier version of this story incorrectly stated the locations at 4000 W. Brown Deer Road and 501 W. North Shore Drive would be closing. That report was based on an Department of Workforce Development notification that inaccurately said First Citizens intended to close those facilities.