FINANCE
Bank of America plans to shutter dozens of branches this year: Here is the full list of affected locations
More than seventy Bank of America branches have been closed this year, with over a dozen more slated to occur before the end of the year. Here is the full list of affected branches.
When a bank plans to close branches, they must report the closures to the Office of the Comptroller of Currency. This information is then made public, and through its release, we know that Bank of America has already closed seventy-three branches this year and that dozens more are slated to be shut. In terms of total assets, Bank of America is the second largest bank in the country, following JP Morgan Chase.
In 2023, Bank of America closed down more than a hundred branches and has already scheduled the closure of dozens more. This information was reported by the Office of the Comptroller of Currency (OCC), which requires banks to report all closures to the federal agency. The bank is adjusting to the reduced demand for in-person services, which has led to the closure of some branches and the opening of others. The aim is to reduce the number of low-traffic offices. Unfortunately, this means that clients may have to travel longer distances to reach their nearest branch. Over the past decade, the distance that customers, especially those living in rural areas, must travel to reach their nearest branch has been increasing.
Where are branches closing in June and July?
Only five branches will close this month and next:
- 780 Blossom Hill Road, Los Gatos, CA
- 512 Fletcher Parkway, El Cajon, CA
- 50 North Laura Street, Jacksonville, FL
- 4401 Central Avenue NE, Albuquerque, NM
- 6414 San Felipe Street, Houston, TX
What other closures are planned?
Twenty-eight other closures are planned for 2024, with an additional seven slated for 2025 and 2026.
Arizona
- 1961 West Baseline Road, Mesa | 09/17/2024
California
- 5225 Canyon Crest Drive, Riverside | 08/27/2024
- 8949 Clairemont Mesa Boulevard, San Diego | 08/27/2024
- 1515 Broadway, Sacramento | 09/10/2024
- 450 Montgomery Street, San Ramon | 09/24/2024
- 9460 Scranton Road, San Diego | 10/29/2024
- 44411 20th Street, East Lancaster | 11/19/2024
- 7404 Jackson Drive, San Diego | 12/10/2024
Connecticut
- 48 Wall St, Norwalk | 08/20/2024
- 21060 Saint Andrews Boulevard, Boca Raton | 12/03/2024
Florida
- 1200 West Osceola Parkway, Kissimmee | 12/03/2024
- 19645 Biscayne Boulevard, Aventura | 12/06/2024
Massachusetts
- 333 Longwood Avenue, Boston | 08/27/2024
- 684 Fellsway, Medford | 11/01/2024
- 278 Mystic Avenue, Medord | 11/01/2024
Michigan
- 41 N. Saginaw Street Pontiac | 11/05/2024
New Jersey
- 1501 Tilton Road, Northfield | 08/09/2024
- 90 Nassau Street, Princeton | 08/13/2024
New York
- 345 Park Avenue S, New York | 09/24/2024
Pennsylvania
- 6425 Rising Sun Avenue, Philadelphia | 08/27/2024
South Carolina
- 1499 Pearman Dairy Road, Anderson | 09/17/2024
- 7815 N Kings Highway, Myrtle Beach | 11/19/2024
Texas
- 10101 Westheimer Road, Houston | 08/27/2024
- 2015 Coit Road, Plano | 09/27/2024
- 1925 Dallas Parkway, Plano | 09/27/2024
- 6085 Campbell Road, Dallas | 10/29/2024
- 2000 East Lamar, Suite 100, Arlington | 12/10/2024
Virginia
- 1708 Old Bridge Road, Woodbridge | 12/10/2024
Why are the branches being closed?
In 2023, Bank of America closed down more than a hundred branches and has already scheduled the closure of dozens more. This information was reported by the Office of the Comptroller of Currency (OCC), which requires banks to report all closures to the federal agency. The bank is adjusting to the reduced demand for in-person services, which has led to the closure of some branches and the opening of others. The aim is to reduce the number of low-traffic offices. Unfortunately, this means that clients may have to travel longer distances to reach their nearest branch. Over the past decade, the distance that customers, especially those living in rural areas, must travel to reach their nearest branch has been increasing.