Customers using the Coatesville branch were notified by mail of the closing. The mailing included a map and list of First National ATM locations, including ATMS which will be added in an upcoming expansion effort for Coatesville customers. Also included was information on public transportation to the Downingtown. The new branch office will be located 99 Manor Ave., the corner of Pennsylvania and Manor avenues. Coatesville customers were also provided information on First National banking options such as bank by mail or Net Teller.

John A Featherman III, chairman and chief executive officer of First National, said the decision to close the Coatesville branch office should not be viewed as the bank's giving up on the city's revitalization. "We hope to return," he said.

Featherman added, "The Downingtown location will allow us to offer additional services, such a as drive-up teller window, a drive-up ATM machine, ample parking, extended service hours and a night depository drop."

The 258 E. Lincoln Hwy. location in Coatesville, said Featherman, was only supposed to be temporary. He said plans were for the bank to move into the first floor of one of Chetty's condominium towers. Meanwhile, he said, a prime location became available in Downingtown that would allow for expansion.

Currently, Coatesville's $22 million Trust Fund is deposited with First National Bank. However, the city reportedly has been considering transferring those funds to Willow Financial which holds a $7 million note owed by the city Redevelopment Authority.

The Coatesville branch office is located in one of several buildings in the city's downtown business district that were part of a $4.56 million renovation project. Almost half of the $4.56 million -- $2.13 million ­ came from private investors working in cooperation with The Community Builders (TCB), a private, non-profit group working in partnership with the Chester County Housing Authority; it was the housing authority that obtained $16 million federal HOPE VI grant. The lure for private investors is major tax credits.

The addresses of the other buildings on East Lincoln Highway are 128 and 130; 209 and 211; 238 and 240; 242 and 244. The project also includes 237 Harmony St. The buildings are owned by Community Builders Inc. Under a unique arrangement the RDA, the city was able to control the first-floor commercial space of the buildings.