Major US Banks Announce New Closures This Week – Official List of Branches Shutting Down

In October, the trend of bank branch closures showed no signs of slowing down, with 35 more branches shuttered across the U.S. in just one week. Leading these closures, U.S. Bank shut down 11 locations, while Wells Fargo and Bank of America each closed six, and PNC Bank followed with five. Smaller-scale closures included branches from Beverly Bank, Citizens Bank, Fidelity Bank, First National Bank of Omaha, Flagstar, and Chase.

California was notably impacted, losing nine branches in the week alone. This comes on top of the 86 closures the state had seen through the first three quarters of 2023. The shift reflects a broad strategy by banks to meet changing customer habits by reducing physical branch locations while increasing digital service offerings.

Reasons Behind Closures

A spokesperson for U.S. Bank explained the reasons for these closures, stating that customer preferences are shifting toward digital and mobile banking. In response, U.S. Bank, along with others, is reevaluating its branch footprint to align with these evolving habits. However, they assured that some physical locations would continue to be enhanced, and digital service capacities would be rapidly expanded.

The banking industry as a whole is adapting to a landscape where more transactions are handled online, driving a move to streamline operations and reduce the number of physical branches. However, while these changes may meet the needs of tech-savvy customers, they pose challenges for others, especially older customers who may struggle with digital platforms or require in-person assistance for specific transactions.

Customer Sentiment

Despite these shifts, a significant portion of customers still prefers access to physical branches. According to a survey conducted by Self Financial, 39% of respondents reported a higher level of trust in banks with physical locations over purely digital institutions. Additionally, nearly two-thirds of Americans still use branches for cash deposits, and over half rely on them for in-person financial guidance. This indicates that while digital banking is growing, the need for in-person services has not disappeared entirely.

Recent Closures

Below is a summary of the bank branches closed across various states in the week from October 15 to October 22, showing a mix of large national banks and regional institutions adjusting their physical footprints:

Bank	City	Location
Bank of America	Oceanside, CA	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. Blvd
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, PA	8345 Ridge Avenue
Fidelity Bank	Tulsa, OK	2222 S. Utica Place
First NB of Omaha	Bayard, NE	302 Main Street
Flagstar Bank	Jericho, NY	336 North Broadway
JPMorgan Chase Bank	Las Vegas, NV	1340 East Flamingo Rd
JPMorgan Chase Bank	Houston, TX	4335 Martin Luther King Blvd., Ste B
PNC Bank	Albuquerque, NM	2444 Louisiana Blvd Ne
PNC Bank	Bakersfield, CA	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
U.S. Bank	Cobden, IL	118 S Front St
U.S. Bank	Cambridge, OH	819 Wheeling Avenue
U.S. Bank	Blair, NE	1865 Washington St
U.S. Bank	Hopkinsville, KY	1101 S Main Street
U.S. Bank	Pleasanton, CA	6774 Bernal Avenue, Suite 310
U.S. Bank	Wahpeton, ND	502 Second Avenue North
U.S. Bank	Maquoketa, IA	W Platt & Mckinsey Dr
U.S. Bank	San Francisco, CA	3473 California Street
U.S. Bank	Mill Valley, CA	453 Miller Avenue
U.S. Bank	Humboldt, IA	701 Sumner Ave
U.S. Bank	Hayward, CA	27000 Hesperian Boulevard
Wells Fargo Bank	Pasadena, CA	655 North Fair Oaks Avenue
Wells Fargo Bank	Pleasanton, CA	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	North Highlands, CA	7477 Watt Avenue

Impact on Local Communities

The growing number of closures is part of a strategic pivot by banks, but it affects communities that rely on in-person banking. Many rural areas and small towns where digital banking adoption is slower are losing access to essential financial services. Without nearby branches, residents in these areas may face challenges, from limited access to cash deposits to difficulties seeking financial advice.

For now, while banks are enhancing their digital services, a substantial number of customers still rely on branches, demonstrating that physical banking has a role that online platforms can’t entirely replace.

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