Bank branch closures continue to make the news this October. With the end of the month approaching, they have not slowed down, with 35 locations being shut down in just a week.
Not all banks were involved in this round of branch shutdowns, US Bank had the most closures, shutting down 11 locations between October 15 and 22, Wells Fargo and Bank of America each closed six branches, while PNC cut five. The rest were spread out between Beverly Bank, Citizens Bank, Fidelity Bank, First National Bank of Omaha, Flagstar, and Chase.
The state that was hit the hardest in this downsizing attempt was California, which lost 9 branches just this week, alongside the 86 branch closures across the state that already took place between January and the end of September.
A spokesperson for US Bank spoke with DailyMail.com and reflected on the closures “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.”
These branch closures seem to have become the norm, with for example, US Bank having now closed 121 locations just this year, but some customers are not in agreement with the policy. Many older citizens struggle to use the online apps that banks now use to provide their services, and some transactions can only be made in person with the help of a bank employee, regardless of whether or not the client would like to do them online.
And this does not take into account habits that people may have. Self Financial made a poll and discovered that 39 percent of those polled had more trust in banks with physical branches than those without. Also, nearly two-thirds of Americans still use a physical branch to make cash deposits, while over half use them to speak to an in-person adviser
Bank Branch Closures 15 October – 22 October
Bank | City | Location |
Bank of America | Oceanside, CA | 702 Mission Ave |
Bank of America | Fort Myers, FL | 8681 Cypress Lake Drive |
Bank of America | Ormond Beach, FL | 902 South Atlantic Avenue |
Bank of America | Tampa, FL | 2700 West Dr. Martin L. King Jr. Boulevard |
Bank of America | Nashville, TN | 969 South Gallatin Road |
Bank of America | Hendersonville, TN | 451 West Main Street |
Beverly Bank & Tr Co | Chicago, IL | 1908 West 103rd Street |
Citizens Bank | Philadelphia, PA | 8345 Ridge Avenue |
Fidelity Bank | Tulsa, OK | 2222 S. Utica Place |
First NB of Omaha | Bayard, NE | 302 Main Street |
Flagstar Bank | Jericho, NY | 336 North Broadway |
JPMorgan Chase Bank | Las Vegas, NV | 1340 East Flamingo Rd |
JPMorgan Chase Bank | Houston, TX | 4335 Martin Luthur King Blvd., Ste B |
PNC Bank | Albuquerque, NM | 2444 Louisiana Blvd Ne |
PNC Bank | Bakersfield, CA | 8500 Stockdale Hwy Ste 100 |
PNC Bank | Albuquerque, NM | 3500 Candelaria Rd Ne |
PNC Bank | Napoleon, OH | 701 N Perry St |
PNC Bank | Napoleon, OH | 801 N Perry St |
U.S. Bank | Cobden, IL | 118 S Front St |
U.S. Bank | Cambridge, OH | 819 Wheeling Avenue |
U.S. Bank | Blair, NE | 1865 Washington St |
U.S. Bank | Hopkinsville, KY | 1101 S Main Street |
U.S. Bank | Pleasanton, CA | 6774 Bernal Avenue, Suite 310 |
U.S. Bank | Wahpeton, ND | 502 Second Avenue North |
U.S. Bank | Maquoketa, IA | W Platt & Mckinsey Dr |
U.S. Bank | San Francisco, CA | 3473 California Street |
U.S. Bank | Mill Valley, CA | 453 Miller Avenue |
U.S. Bank | Humboldt, IA | 701 Sumner Ave |
U.S. Bank | Hayward, CA | 27000 Hesperian Boulevard |
Wells Fargo Bank | Pasadena, CA | 655 North Fair Oaks Avenue |
Wells Fargo Bank | Pleasanton, CA | 5798 Stoneridge Mall Road |
Wells Fargo Bank | Dallas, TX | 5809 E. Lovers Lane |
Wells Fargo Bank | Hickory, NC | 200 First Ave. Nw |
Wells Fargo Bank | El Paso, TX | 221 N. Kansas Street |
Wells Fargo Bank | North Highlands, CA | 7477 Watt Avenue |
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