Updated List of New Bank Branch Closures

by
Adam Rust

January 5th, 2020 to January 11th, 2020: Five branch closings and seven new branch openings are announced.

December 29th, 2019 to January 4th, 2020: The OCC announces eight new branch closures and two new branch establishments. Four branch closings are completed, but ten new branch openings are consummated.

December 22nd to December 28th: The OCC announces seven branch closings and one branch establishment. One branch closure is completed, in Terre Haute, Indiana.

December 15th to December 21st, 2019: The Office of the Comptroller of the Currency received reports of 38 new branch closings. The closures are clustered in a handful of states: eight in Arizona, nine in Connecticut, and five each in New York and Illinois. During the same period, banks announced plans to establish 12 new branches.

December 8th to December 14th: In a very busy week, the OCC reports that their member banks will close 35 branches. The OCC says that its banks have indicated plans to initiate the establishment of ten new branches. Banks complete the establishment of 21 new branches but finish the closure of 49 existing branches. The orders include closures of nine branches in Connecticut, ten in New York state, and five in Texas.

November 3rd to November 9th: National banks consummated 32 bank branch closures. U.S. Bank consummated fourteen of those branch closures, including seven in metropolitan Las Vegas and three in Missouri. The Office of the Comptroller of the Currency received messages from its member banks, giving news of their intentions to close nineteen more branches.

October 27th to November 2nd: Banks consummated nineteen branch closures. Forty receipts of new plans to close more bank branches. TD North said it would soon close eleven branches, Zions Bank sent four proposals to close branches, and JPMorgan Chase said it would soon close six branches. Interestingly enough, Chase opened nine new branches this week and said it had new plans to open another four branches.

October 20th to October 26th: Twenty-three new branch closures were completed, including three by Citizen's Bank, five by U.S. Bank, and eleven by Wells Fargo. Banks announced plans to close another twenty-eight branches in the future. PNC said it would close eleven branches in the future.

October 13th to October 19th: Seven closures, all by PNC Bank. The OCC says it received 21 messages from its member banks that those financial institutions were beginning the process of new branch closures.

September 29th to October 5th: Nineteen closures were completed; eleven were slated for future closure.

Banks that operate without branches
Picture of card
Picture of card
Piggy bank sinking into the ocean when branch closes

I have discussed the broader landscape surrounding bank branch closures in other writings, including this earlier entry on this blog.

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Adam Rust has worked to defend consumers against harmful financial practices since 2005. He has written extensively about overdraft fees, payday lending, credit insurance, student loans, prepaid debit cards, high-cost installment loans, and subprime mortgage lending. In 2017, Reinvestment Partners convened a national conference on the subject of bank branch closures in rural areas. The related white paper has been utilized as a reference work by many news publications.

He serves on the Board of the US Faster Payments Council. He is Director of Research at Reinvestment Partners in Durham, North Carolina. He is the author of BankTalk. He is the author of "This is My Home: Challenges and Opportunities of Manufactured Housing" and has testified to Congress on how to redress some of the problems with manufactured housing. See more on his LinkedIn profile.