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 set to close in 2024?
In January, six branches will close:
To date, nine branch closures have been announced for February.
In March, Bank of America currently plans to close twenty-five branches:
In April, fewer closures are planned than in March:
In May, June, and July, under ten closures are planned:
Four closures are planned in August, with two more on the way in September:
One closure is planned in October and November each: