The Martha’s Vineyard Savings Bank announced this week that it will consolidate its two Vineyard Haven branch offices. The downtown Main street branch will be closed while the larger branch office (formerly the Cooperative Bank headquarters) at the corner of Main and State Road will become the sole Vineyard Haven branch, with its on-site parking and drive-through teller lanes.

“The time has come for us to consolidate the operations of our two Vineyard Haven branches into one full-service branch with enhanced services and capabilities,” said bank president and chief executive officer Chris Wells in a prepared statement.

Headquartered in Edgartown, the savings bank has seven branch locations on the Island.