The closure of Caloundra’s Bank of Queensland (BOQ) sparks concerns about the future of face-to-face banking, following the recent forced closure of two major banks in town due to flooding.

A BOQ spokesperson said BOQ had made the “difficult decision” to close the Caloundra branch at 20 Bulcock Street “as we continue to simplify operations, and more customers embrace digital banking”.

“We are focused on supporting our people throughout this process and are pleased that most team members will transition to new roles across our network,” the spokesperson said.

“As our branch network evolves in line with our business priorities and growth corridors, we remain committed to providing our customers with exceptional service.

“We look forward to welcoming customers to our other branches and continuing to support their banking needs via our digital channels and Bank@Post services.”

BOQ reported a statutory net profit after tax of $285 million for the full year ending 31 August 2024 with cash earnings after tax of $343 million.

This profit was a 130 per cent increase on FY23 results.

The next nearest BOQ branches is at Shop T027, Stockland Birtinya at 8 The Avenue, Cnr Kawana Way and Lake Kawana Boulevard, Birtinya.

Caloundra locals looking to do in-person banking also struggled to find access to The Commonwealth Bank and National Australia Bank branches at the Caloundra Shopping Centre during the holiday period after heavy rains caused water damage to both branch locations.

Caloundra CBA reopened on 21 January with the NAB Caloundra branch back in action by 3 January.