After 32 years, ANZ Bank, which opened in Guam more than 30 years ago as Citizen's Security Bank, will close down its local operations effective on Jan. 31 of next year.

Guam branch CEO Clarke Schaumann says as ANZ Bank continues its expansion into its core markets in the Pacific, Guam as a U.S. territory under a different regulatory scheme was an increasingly difficult strategic fit.

"Sometimes it felt like we were trying to be the best rugby team in the NFL, and that was sort of, unfortunately, we've come to the point where the strengths we have as an ANZ are just not being able to be delivered here on Guam," Schaumann said. "And we've come to the very difficult decision to wind down our operations."

It was equally difficult he says to break the news to his staff.

"It was a tough day," Schaumann said. "Yesterday I let the employees know of the decision. we're giving them due support, I feel as though we're giving them a fair shake in terms of giving them a big bit of gratitude and thank you for the efforts they've given our customers all throughout the years."

The move was foreshadowed last month when ANZ announced it was selling the bulk of its commercial and mortgage loans to the Bank of Guam.

For the remaining customers, Schaumann said, "As of today we are giving three months notice that the branch will be closing on January 31st. So customers are invited to come in, close their accounts, either coming into the branch or as simply as transferring their accounts to become a zero balance."

The bank was opened in 1990 as citizens security bank by local businessmen and former lieutenant governor Kurt Moylan. It was sold to ANZ bank in 2007.