Citizen’s Bank, rather than another retailer, will replace the departing Abercrombie. Citizen’s already operates a location in Harvard Square on Mass. Ave., which will move as soon as remodelling is complete, Citizen’s Bank spokesperson Melodie L. Jackson said.

“All the employees are being relocated and it will be the same Harvard Square employees with some additional teams at the new location,” Jackson said.

Jackson said that the branch is moving in order to expand service to its customers as well as to transform the branch into a “community hub.” She said ATMs should be operational by early September and that the bank hopes other services will be available by late fall.

“The branch will have a community room for community groups to hold meetings and it will be a much more expanded space to provide greater convenience for our customers,” Jackson said.

But Williams and DiGiovanni said that the prominent storefront is wasted on another large bank branch opening in the square. Fleet, Cambridge Savings Bank and Cambridge Trust already have large branches open on the corner of JFK St. and Mass. Ave.

“It probably would do better as a retail store because it’s a pretty good location,” Williams said.

—Staff writer Joshua P. Rogers can be reached at jprogers@fas.harvard.edu.