Banking

Wells Fargo, Bank of America, Citizens and Chase among US banks that filed to shut 18 branches in just one week – is YOURS affected?


  • American banks closed a total of 18 branches between March 10 and March 16
  • Wells Fargo was a front-runner and accounted for almost half the closures
  • Has your local bank branch shuttered recently? Write to [email protected]

Wells Fargo filed to close eight branches in a single week this month, joining another eight banks in closing a total of 18.

Meanwhile, Chase continued to defy the industry-wide trend by announcing it would instead open eight.

Those were in Colorado, Florida, Georgia, Illinois, Massachusetts, South Carolina and Utah

Only one other bank said it would open a branch, Wintrust Bank in Chicago. That brought the total openings to nine – half the number of scheduled closures.

Banks are therefore continuing to close branches much faster than they’re opening them, with a focus on shutting rural locations and consolidating around cities.

Wells Fargo in October announced its first branch expansion strategy, focusing on opening new locations in the Chicago metro area

Wells Fargo in October announced its first branch expansion strategy, focusing on opening new locations in the Chicago metro area

Chase has been an outlier among the major banks because it has been steadily increasing its branch count

Chase has been an outlier among the major banks because it has been steadily increasing its branch count

Wells Fargo’s closures between March 10 and 16, reported to its regulator the Office of the Comptroller of the Currency (OCC), were spread between Florida, Mississippi, South Carolina, North Carolina and Texas.

Overall, Wells Fargo has been a front-runner when it comes to bank branch closures.

Last year it notified the regulator it would close 312 branches, more than any other bank in the country. It opened only 22 across the entire year.

It is joined by US Bank, which this year has already said it would shut a total of more than 50.

In the first two months of the year, a DailyMail.com analysis showed that banks had filed to close 222 branches.

The average freestanding bank branch costs around $2.6 million a year, so being able to shut them and encourage customers to bank online can lead to big savings.

The last time the number of commercial bank branches in the US increased was in 2011 when there were more than 85,000, according to FDIC data.

Since then the number of physical branches has dropped fairly steadily to about 70,000.

This year, Chase said it would open 500 locations across the US in the next three years, and last year it was the only major bank to open more branches than it closed.

Chase opened 195 branches between January 1 and December 22 – almost six times more than Bank of America, which came in second by filing to open 32.

Bank branch closures (March 10 – March 16) 
Bank City State Location
Wells Fargo Tallahassee FL 3400 South Monroe St.
Wells Fargo Tallahassee FL 444 Gamble St.
Wells Fargo Tampa FL 7931 Gunn Hwy.
Wells Fargo Jackson MS 188 East Capital St. Suite 100
Wells Fargo Kannapolis NC 704 N. Cannon Blvd.
Wells Fargo Charlotte NC 1500 Westinghouse Blvd.
Wells Fargo Mauldin SC 500 North Main St.
Wells Fargo Arlington TX 1889 Brown Blvd.
Bank of America New York NY 767 Fifth Ave.
Bank of America Myrtle Beach SC 7815 N Kings Hwy.
KeyBank Lakewood CO 1858 South Wadsworth Blvd.
KeyBank Portland ME 85 Auburn St.
Bank of America Los Gatos CA 780 Blossom Hill Rd.
Citizens Bank Doylestown PA 482 North Main St.
Eureka Homestead Gretna LA 2112 Belle Chasse Hwy Ste.
First NB of Pennsylvania Pittsburgh PA 6000 Centre Ave.
JPMorgan Chase Chandler AZ 5915 West Chandler Blvd.
Lone Star Capital San Antonio TX 420 N. Weidner Rd.
Bank branch openings (March 10 – March 16) 
Bank City State Location
JPMorgan Chase Lone Tree CO Lincoln Ave. and Heritage Hills Cir.
JPMorgan Chase Leesburg FL US Hwy 27 and FL-48
JPMorgan Chase Loxahatchee FL Persimmon Blvd. and Seminole Pratt Whitney Rd.
JPMorgan Chase Mableton GA Floyd Rd SW and White Blvd. SW
JPMorgan Chase Arlington Heights IL E. Palatine Rd. and E. Rand Rd.
JPMorgan Chase Stoughton MA Central St. and Washington St.
JPMorgan Chase Myrtle Beach SC N Kings Hwy and 79th Ave. N.
JPMorgan Chase Spanish Fork UT N. Cyn. Crk. Pkwy. and E. Mkt. Pl. Dr.
Wintrust Bank Chicago IL 6420 N. Sheridan Rd.



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