HSBC has announced that it will close its branch on the junction of Newark Road and Rookery Lane, on May 1.
The three staff who work at the site will be transferred to other HSBC branches in the area.
A spokesperson for HSBC said: “Our customers’ habits are changing – they are increasingly using the convenience of internet, smartphone or telephone banking for their day to day needs. We have seen a 40% reduction in customer footfall over the last four years.
“It is never a decision we take lightly, but on occasions this has meant we have needed to close a branch and our Lincoln branch is a case in point.
“Decisions like this are never easy, but we worked with the small number of customers who use the branch to help them reorganise their finance ahead of the closure.”