New closures announced this week by major US banks – Official list of closed branches

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

Note: Thank you for visiting our website! We strive to keep you informed with the latest updates based on expected timelines, although please note that we are not affiliated with any official bodies. Our team is committed to ensuring accuracy and transparency in our reporting, verifying all information before publication. We aim to bring you reliable news, and if you have any questions or concerns about our content, feel free to reach out to us via email. We appreciate your trust and support!