close
close

Yiamastaverna

Trusted News & Timely Insights

Major US banks closed 35 branches in a week – is yours affected?
Washington

Major US banks closed 35 branches in a week – is yours affected?

Major American banks closed 35 branches nationwide in a single week in October this year.

US Bank led the closures, closing 11 locations between Oct. 15 and Oct. 22.

Wells Fargo and Bank of America each closed six branches, while PNC closed five branches.

The rest came from Beverly Bank, Citizens Bank, Fidelity Bank, First National Bank of Omaha, Flagstar and Chase. Scroll down to see the full searchable list of addresses.

California was the hardest hit, losing nine stores during the week.

Major US banks closed 35 branches in a week – is yours affected?

US Bank closed most locations and closed 11 branches between October 15 and October 22

The Golden State was also the hardest hit in the first nine months of the year, with 86 stores closing nationwide between January and the end of September.

The latest data registered with the Office of the Comptroller of the Currency (OCC) suggests banks are on track to close 1,000 branches by the end of the year.

US Bank has closed 121 locations so far this year, the second most of any other major provider.

“Customers’ banking preferences and behavior are changing, including a rapid migration to digital and mobile banking platforms and a desire for greater simplicity,” a US Bank spokesperson told DailyMail.com earlier this month.

“As we continue to evolve with our customers, we are reassessing our physical footprint and, in some cases, consolidating branch locations in select markets.

“Although we are closing some stores, we continue to open and expand others and rapidly improve our digital capabilities.”

Although the majority of Americans now choose to do the majority of their banking online, customers still prefer using physical branches for certain services.

Some older customers also find it difficult to use services such as mobile banking.

US banks closed a total of 754 locations in the first nine months of the year

US banks closed a total of 754 locations in the first nine months of the year

Nearly two-thirds of Americans still use a physical branch to deposit cash, while more than half use it to speak with a personal advisor, the report said.

39 percent of respondents told Self Financial that they trust banks with physical branches more than those without.

Closings can result in significant savings for banks, with a freestanding branch costing on average about $2.6 million per year to operate.

Banks must report all planned closings and openings to the Office of the Comptroller of the Currency (OCC), a federal banking regulator.

Every week it publishes a summary of it. DailyMail.com has analyzed these to compile the details of the overall closures so far this year.

Bank closures from October 15th to October 22nd
bank City Condition Location
Bank of America OCEAN SIDE APPROX 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 P.A 8345 Ridge Ave
Loyalty bank Tulsa OK 2222 S. Utica Place
First NB from Omaha Bayard NE 302 Main Street
Flagstar Bank JERICHO new York 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 APPROX 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
US Bank COBDEN IL 118 S FRONT ST
US Bank CAMBRIDGE OH 819 WHEELING AVENUE
US Bank Blair NE 1865 Washington St
US Bank Hopkinsville KY 1101 S Main St
US Bank PLEASANTON APPROX 6774 BERNAL AVENUE, SUITE 310
US Bank WAHPETON ND 502 SECOND AVENUE NORTH
US Bank MAQUOKETA IA W PLATT & MCKINSEY DR
US Bank SAN FRANCISCO APPROX 3473 CALIFORNIA STREET
US Bank MILL VALLEY APPROX 453 MILLER AVENUE
US Bank HUMBOLDT IA 701 SUMNER AVE
US Bank HAYWARD APPROX 27000 HESPERIAN BOULEVARD
Wells Fargo Bank PASADENA APPROX 655 NORTH FAIR OAKS AVENUE
Wells Fargo Bank PLEASANTON APPROX 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 NORTHERN HIGHLAND APPROX 7477 WATT AVENUE

LEAVE A RESPONSE

Your email address will not be published. Required fields are marked *