The board of directors and senior management of The Community Bank have finalized plans for a companywide restructuring in 2011, which includes consolidating branches on Cape Cod and in its hometown of Brockton.

The plan focuses on maintaining the bank’s status as an independent bank, according to a statement.

"The Community Bank was founded in 1877, and we are squarely committed to continuing our tradition of serving our customers across southeastern Massachusetts and the Cape as an independent organization," said John O’Connor, president and CEO of The Community Bank.

As part of the plan, O’Connor is taking steps to inject additional sources of capital and to begin the process of consolidating some of its physical operations (pending regulatory approval). Its Cape Cod operations will be consolidated, as the Hyannis and Falmouth Business Resource Centers will be folded into its newly expanded facility in Sandwich that houses both a full-service branch and a loan production office.

The bank will also combine its three Brockton offices into two in July. The bank will consolidate the branch at 1090 Main St. in Brockton into its existing offices nearby at Belmont and Quincy Streets.

"This restructuring creates essential efficiencies for our bank, and it is the next step in our comprehensive strategic plan, positioning our company for a successful future," said O’Connor. "As always, serving our customers is our very first priority, and the changes we are making will ensure that we will succeed at that."