Bank of America and US Bank closed 11 branches each from October 15 to November 5, their highest number within such a time frame in 2024.
Three other major banks – Wells Fargo, Citizens Bank and Associated Bank – closed fewer branches.
The hardest hit state was California, which lost 10 banking locations, followed by Pennsylvania where eight shut their doors. Florida and Ohio followed with a half-dozen closures each.
Data from the Office of the Comptroller of the Currency (OCC) has banking institutions on pace to close 1,000 branches collectively by the end of the year, according to the Daily Mail.
Bank of America has closed the most branches, a whopping 132.
While some older customers still visit banks to deposit checks and withdraw money, among other services, most Americans use online banking.
‘As we evolve along with our clients, we are reevaluating our physical footprint, and in some instances, consolidating branch locations in select markets,’ a US Bank spokesperson told the Daily Mail.
‘Although we are closing some branches, we continue to open and enhance others, as well as rapidly enhancing our digital capabilities.’
