Chiefsfocus It seems like every day another bank branch closes down, and it is not just a baseless impression, just in the first two weeks of October, 46 local bank branches of US banks have shut their doors for good. And there are many more to come before the end of the year.
The bank responsible for most of the closures this time around was Citizens bank, with fifteen closures in just a fortnight. Huntingdon shut down eleven locations, U.S Bank was responsible for nine and the rest of the closures were spread across Bank of America and Wells Fargo, each of which closed four locations, and both First National Bank of Texas and Chase, who closed one each.
These locations join the rest of the 754 bank branches closed in the first nine months of the year, and while they are spread out, October has hit Illinois and Pennsylvania hard, with eight and seven respectively.
If this pace of closures continues, by the end of the year, over 1,000 bank branches could be gone nationwide. What may be even more concerning, researchers at Self Financial examined the data on net closures, which have averaged about 1,646 annually since 2018, and concluded that the very last physical bank branch in the U.S. could close by 2041.
Of course, this is all speculation, but since the rise of online banking, the need for physical locations has been severely reduced. As a spokesperson for U.S. Bank told DailyMail.com “Client’s banking preferences and behaviors are changing, including a rapid migration toward digital and mobile banking platforms, and a desire for greater simplicity. As we evolve along with our clients, we are reevaluating our physical footprint, and in some instances, consolidating branch locations in select markets. Although we are closing some branches, we continue to open and enhance others, as well as rapidly enhancing our digital capabilities.”
List of bank branches that closed during the first fortnight of October
| Bank | City | Location |
| Bank of America
Bank of America Bank of America Bank of America Citizens Bank Citizens Bank Citizens Bank Citizens Bank Citizens Bank Citizens Bank Citizens Bank Citizens Bank Citizens Bank Citizens Bank Citizens Bank Citizens Bank Citizens Bank Citizens Bank Citizens Bank First NB Texas Huntington Huntington Huntington Huntington Huntington Huntington Huntington Huntington Huntington Huntington Huntington JPMorgan Chase U.S. Bank U.S. Bank U.S. Bank U.S. Bank U.S. Bank U.S. Bank U.S. Bank U.S. Bank U.S. Bank Wells Fargo Wells Fargo Wells Fargo Wells Fargo |
CHICAGO
LONG BEACH BOSTON BEVERLY HILLS PARMA Philadelphia Pittsburgh NASHUA Dillsburg Hyde Park TAYLOR BELMONT BURLINGTON BELLINGHAM Pittsburgh New Kensington WESTLAND Philadelphia RUMFORD SCOTTSDALE CHICAGO Elyria Port Huron INDIANAPOLIS Canfield Dorr CHICAGO ST. BADEN ARLINGTON HEIGHTS OAK LAWN LOMBARD PEORIA MESA GILBERT CHICAGO Quincy Richmond MINNEAPOLIS SPOKANE FARMINGTON PLACERVILLE CHANTILLY South Gate MEMPHIS NEW YORK |
49 East Chicago Avenue
6351 East Spring Street 133 Massachusetts Avenue 8760 Wilshire Boulevard 7450 Broadview Road 2497 Aramingo Avenue 4570 Fifth Avenue 122 Northeastern Blvd 4 South Baltimore Street 1025 Truman Parkway 7000 Monroe Blvd 535 Trapelo Road 248 Middlesex Turnpike 70 Pulaski Blvd 712 Washington Road 200 Tarentum Bridge Road 200 Merriman 8345 Ridge Avenue 275 Newport Avenue 15355 Noth Northsight Bvd 7530 S. Stony Island 860 East Broad Street 1527 Hancock 9075 N. Meridian St. 3801 Boardman Canfield Road 1604 142nd St. 29 East Madison, Suite 150 1685 W. State 440 E. Rand Road 8801 S. Ridgeland Avenue 1177 S. Main Street 125 Ne Jefferson Avenue 3622 East Southern Avenue 5137 East Baseline Road 209 South Lasalle Street 20 E. Main Street 521 Lancaster Avenue 219-19th AvSouth, Suite 140 East 3001 29th Avenue 1316 North Highway 89 3955 Missouri Flat Road 14430 Chantilly Crossing Lane 4703 Firestone Blvd. 6445 Poplar Ave 535 Seventh Avenue |
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