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Bank of America, PNC, Citizens and Chase behind latest branch closures

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  • Bank of America, PNC and Citizens were among those that closed a total of 10
  • Openings majorly overshadowed closures, with 26 reported in just one week
  • Scroll down to the box below for details of all branches shut this year 

US banks notified their regulator of 10 planned branch closures in a single week this month.

Among those shutting locations were Bank of America, PNC and Citizens – each of which announced the closure of two locations.

Meanwhile, Chase, Capitol Federal Savings Bank in Kansas, First National Bank of Middle Tennessee, and State National Bank of Groom in Texas reported one each in the week between April 14 and April 20.

The closures – published by their regulator the Office of the Comptroller of the Currency – were planned across California, Texas, Washington DC, New Jersey, Massachusetts, New York, Kansas and Tennessee.

The closures mean that customers in the area will need to either drive further to another branch or turn to online banking for the majority of services.

It means banks have announced the closure of more than 300 branches so far in 2024 – see the boxes below for the latest ones and links to all the others this year. 

Bank of America filed to close two branches but in a rare turn of events filed to open five

Citizens Bank also notified the OCC of two closures between April 14 and April 20

Citizens Bank also notified the OCC of two closures between April 14 and April 20

The closures this month however were overshadowed by a very large spate of 26 openings – a sign that the ongoing ‘blood branch bloodbath’ may be starting to slow.

This most recent week, Chase, which has already filed to open more than 50 branches this year, again led the pack in terms of new branches. It notified the OCC of ten openings in eight states.

Bank of America, which has a track record of mainly closing branches, and Community Bank reported five openings each.

Fifth Third Bank filed to open three locations and Alerus Financial, Coastal Carolina National Bank and Wintrust Bank each said they would open one.

For years big banks were consistently closing branches at a much faster rate than they were opening new ones, with rural and elderly communities impacted worst.

But last month, openings exceeded closures for the first time in months.

This year, Chase revealed it would open 500 branches by 2027, investing billions in cities like Boston, Charlotte, Minneapolis, Philadelphia and the DC area.

The last year in which the number of branches in the US increased was 2011, when there were more than 85,000 throughout the US, according to FDIC data. Since then the number has dropped steadily to about 70,000. 

Most national banks like US Bank, Bank of America and Wells Fargo have become increasingly confident that online banking can meet most customers’ needs.

Closures can lead to significant savings. The average freestanding branch costs $2.6 million a year to run, according to Bancography, an Alabama-based consulting firm that advises banks.

In 2023, more than 1,500 bank branches were shut for good, with California and the Midwest worst-hit.

Bank branch closures (April 14 – April 20) 
Bank City State Location
Bank of America El Cajon CA 512 Fletcher Parkway
Bank of America Dallas TX 6085 Campbell Road
PNC Bank Washington DC 1348 Fourth Street, NE
PNC Bank Stirling NJ 1057 Valley Road
Citizens Bank Wellesley MA 390 Washington Street
Citizens Bank Glen Oaks NY 257-15 Union Turnpike
Capitol Federal Savings Bank Lawrence KS 4505 W. 6th Street
First NB of Middle Tennessee Nashville TN 33 Music Square West, Unit 110B
JPMorgan Chase Dix Hills NY 699 Old Country Road
State NB of Groom Amarillo TX 101 South East 11th Avenue
Bank branch openings (April 14 – April 20) 
Bank City State Location
JPMorgan Chase Westborough MA Turnpike Road and Otis Street
JPMorgan Chase Raleigh NC Fayetteville Road and Shady Summit Way
JPMorgan Chase Eugene OR West 11th Avenue and Bailey Hill Road
JPMorgan Chase Melissa TX Sam Rayburn Highway and Washington Dr
JPMorgan Chase Fredericksburg VA Monroe Pass Road and Spotsylvania County Parkway
JPMorgan Chase Papillion NE 72nd Street and Peters Parkway
JPMorgan Chase Dover NH Webb Place and Central Ave
JPMorgan Chase Allentown PA Airport Road and Airport Center Road
JPMorgan Chase Prosper TX Dallas Pkwy & Frontier Pkwy
JPMorgan Chase Chesapeake VA Greenbrier Parkway and Eden Way North
Bank of America Brooklyn NY 2095 Ralph Avenue
Bank of America Maplewood MN 3035 White Bear Avenue N
Bank of America Dallas TX 2408 McKinney Avenue
Bank of America St Matthews KY 4621 Shelbyville Road
Bank of America Houston TX 110 S Wayside Drive
Community Bank Amherst NY 3150 Sheridan Dr.
Community Bank Buffalo NY 1091 Main Street
Community Bank Rochester NY 804 N Goodman St.
Community Bank Rochester NY 3330 Monroe Ave.
Community Bank Webster NY 1900 Empire Blvd.
Fifth Third Bank Melbourne FL 3035 W New Haven Avenue
Fifth Third Bank Chapel Hill NC 1800 Fordham Blvd
Fifth Third Bank Greenville SC 3556 Pelham Road
Alerus Financial Shoreview MN 4100 Lexington Ave. N.
Coastal Carolina NB Orangeburg SC 11807 Columbia Road
Wintrust Bank Chicago IL 935 W. Armitage Avenue

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