Bank of America, Chase, Capital One, US Bank and PNC and are among ten national banks to shutter 41 locations in a single week – is yours affected?
- PNC said it would close ten branches in the week starting January 15 alone
- It was followed by US Bank and Bank of America, which filed for nine and eight
- Chase bucked the trend by continuing to open more banks than it closes
- Do you still go to the bank or can you manage your finances online? Email [email protected] about how closures are – or aren’t – affecting you
Over the course of just one week, American banks said they would close 41 branches around the country.
Bank of America, Chase, Capital One, US Bank and PNC are among those axing costly brick-and-mortar locations – as the industry increasingly offers services online.
PNC said in a filing to its regulator it would close ten branches across six states, including Georgia, Maryland, Michigan, Pennsylvania, Texas and Wisconsin.
Meanwhile, in the week starting January 15, US Bank said it would shut nine branches and Bank of America would shut eight.
First National Bank of Pennsylvania and Huntington each notified the Office of the Comptroller of the Currency (OCC) that it would close four.
PNC said in a filing to its regulator it would close ten branches across six states, including Georgia, Maryland , Michigan , Pennsylvania , Texas and Wisconsin. Pictured is a branch in Chicago
US Bank said in the week starting January 15 that it would shut nine branches across the US
Capital One, which also said it would shut four branches the week prior, notified the regulator of another two scheduled closures, both in Virginia.
A handful of other banks said they would close branches. Fifth Third, Chase, KeyBank and Woodforest also announced closures that week.
However, some of the same banks also filed to close branches also sought to establish new ones. Huntington, Fifth Third, US Bank, Bank of America and Woodforest each filed to open one location.
During the week Chase continued its trend of opening more branches than it closes by opening two in Ohio and Kentucky – meaning it had a net gain of one.
In 2023, Chase closed 157 branches in total but opened 195. It was the country’s only leading bank to enter 2024 with more brick-and-mortar locations than it had a year earlier.
The number of bank branches in the US peaked at over 85,000 in around 2011. Over the last 10 years, it has shrunk by approximately 13,000, according to a combination of data from the FDIC and the OCC.
The Covid pandemic catalyzed the already-rapid uptake of online banking and although 2020 saw the sharpest decline in the number of branches, closures have continued.
Chase was the country’s only leading bank to enter 2024 with more brick-and-mortar locations than it had a year earlier. Pictured is a branch in lower Manhattan this month
‘The trend for the future is more consolidation of branch locations but branches are not going away,’ Greg McBride, chief financial analyst for Bankrate.com, told DailyMail.com.
‘There are still going to be to bank operations, as a center for consultation or as a sales floor, but they are used less and less for routine transactions, which are increasingly done digitally,’ he said.
According to a DailyMail.com analysis of OCC data, banks last year closed branches in California and the Midwest faster than anywhere else.
Dozens filed notices to close a total of 1,566 branches. In contrast, they only notified the regulator of plans to open 472.
| Bank | City | State | Location |
|---|---|---|---|
| PNC Bank, NA | Alpharetta | GA | 5320 Flynn Crossing Dr. |
| PNC Bank, NA | Hollywood | MD | 24385 Mervell Dean Road |
| PNC Bank, NA | Livonia | MI | 19450 Haggerty Road |
| PNC Bank, NA | Pinckney | MI | 222 West Main Street |
| PNC Bank, NA | East Stroudsburg | PA | 60 Washington Street |
| PNC Bank, NA | Pittsburgh | PA | 178 Bakery Square |
| PNC Bank, NA | Pittsburgh | PA | 4761 Liberty Avenue |
| PNC Bank, NA | Pittsburgh | PA | 5932 Centre Avenue |
| PNC Bank, NA | Broaddus | TX | 411 State Highway 147 |
| PNC Bank, NA | Cudahy | WI | 6042 South Packard Avenue |
| U.S. Bank NA | Long Beach | CA | 400 Oceangate Boulevard |
| U.S. Bank NA | Ventura | CA | 6040 Telegraph Road |
| U.S. Bank NA | Dewitt | IA | 712 11Th Street |
| U.S. Bank NA | Boise | ID | 8534 Franklin Road |
| U.S. Bank NA | Fort Benton | MT | 1304 Front Street |
| U.S. Bank NA | Las Vegas | NV | 4505 Maryland Parkway, Student Union #119 |
| U.S. Bank NA | Salt Lake City | UT | 2714 S. 300 West |
| U.S. Bank NA | Menasha | WI | 150 Main Street |
| U.S. Bank NA | Brown Deer | WI | 4200 West Brown Deer Road |
| Bank of America, NA | Scottsdale | AZ | 7014 E. Camelback Road |
| Bank of America, NA | Tucson | AZ | 5870 East Broadway D-4 |
| Bank of America, NA | Gilroy | CA | 8375 Arroyo Cir #46 |
| Bank of America, NA | Temecula | CA | 40750 Winchester Road |
| Bank of America, NA | Brandon | FL | 459 Brandon Town Center |
| Bank of America, NA | Jacksonville | FL | 10300 Southside Boulevard |
| Bank of America, NA | Albuquerque | NM | 6600 Menaull Northeast |
| Bank of America, NA | Portland | OR | 9585 SW Washington Square Road |
| First NB of Pennsylvania | Annapolis | MD | 1372-B Cape St Claire Rd |
| First NB of Pennsylvania | Jefferson | NC | 709 E Main St |
| First NB of Pennsylvania | Pittsburgh | PA | 3908 Perrysville Avenue |
| First NB of Pennsylvania | Davidsville | PA | 110 South Main St |
| Huntington NB | Hickory Hills | IL | 9528 Roberts Road |
| Huntington NB | River Forest | IL | 7525 W. Lake Street |
| Huntington NB | Gaylord | MI | 2091 S Otsego Ave. |
| Huntington NB | Coon Rapids | MN | 12900 Riverdale Drive N.W. |
| Capital One, NA | Manassas | VA | 5575 Ashland Community Square |
| Capital One, NA | Fairfax | VA | 3941 Pickett Road |
| Fifth Third Bank, NA | Madisonville | KY | 149 South Main Street |
| JPMorgan Chase Bank, NA | New York | NY | 42 Broadway |
| KeyBank NA | Bellevue | WA | 601 108Th Avenue, N.E. |
| Woodforest NB | Aberdeen | MD | 645 S. Philadelphia Blvd. |
