Everett-based Eagle Bank was forced to close its branch at the Stop & Shop at 471 Salem St. in Medford due to the shuttering of the supermarket last month.

The 25,000-square-foot store is slated to become a Target next year after undergoing renovations.

Mark Whitaker, president and CEO of the $440 million asset Eagle Bank, told Banker & Tradesman the closing of the supermarket is the only reason for the closing of the branch, and that all employees are being kept on board and moved to other bank branches.

Customers will be moved to the Ferry Street branch in Everett, he said, although he wasn’t yet sure if the branch would be replaced.

“We continually look for new branch opportunities that make sense,” he said. “So, to be determined.”