This year, over sixty bank branches have shuttered as the country’s largest financial institutions adjust to decreased demand for branch services as more transactions can be completed online. Hundreds of units closed in 2023, and the data courtesy of the Office of the Comptroller of Currency (OCC) shows that the trend is continuing into 2024.
Before getting started on the closures, there are also five openings to report this year so far:
Bank First, First Financial Bank, Fulton Bank, Hawaii National Bank, Investar Bank, and KeyBank have all closed one branch this month.
Citizens Bank has closed three branches in January:
Fifth Third Bank has closed nine branches:
Huntington Bank also closed three branches:
Larger bank closures
Now, we will move on to the larger financial institutions.
Bank of America
Bank of America has closed twenty branches so far this year:
Arizona and Florida saw the greatest number of closures, followed by California.
PNC has closed three branches:
US Bank has closed seven branches:
Wells Fargo has closed eleven branches so far this year:
Florida and California saw the greatest number of closures.