Bank of America will close more than 100 branches in 2023 It is preparing to close more locations next year, starting in January.
One reason for the closures is the rise of online banking. In recent years, competition with banks that operate just this way has increased. Additionally, there has been a decline in transactions at physical branches amid demand for increasingly digital banking experiences.
On the other hand, for many banking institutions, Having specific headquarters is no longer profitable and has a high cost As more and more transactions take place outside the scope of these transactions, banks seek to adapt to the needs of their customers.
Banks must notify the OCC of upcoming closures
When banks want to close a branch, The Office of the Comptroller of the Currency must be notified (Orient) At least 90 days before the closing date. This notification is sent through advance branch closing notice.
Each closure is documented in a weekly bulletin. Which can be found at OCC web portal. According to bulletins of December 2 and 9. This month, Bank of America closed six branches. Find out how many will be closed in January.
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Bank of America branches will close in January 2024
If we take into account that the closure announcement must be made 90 days in advance, then… October Newsletters Include information on Bank of America branches that could close in January or later.
In October, according to bulletins shared by the OCC, Bank of America shared its advance notice of Closing 24 branches In states like Connecticut, Pennsylvania, New York, California, Florida, Georgia, Texas, and more. We share the full list of locations:
- 162 E Putnam Ave, Cos Cob, CT
- 3745 Aramingo Street, Philadelphia, Pennsylvania
- 552 South 6th, Redmond, OR
- 60 Hempstead Street, West Hempstead, New York
- 79 Main Street, Port Washington, New York
- 2300 Grand Avenue, Baldwin, New York
- 6 East Trenton Avenue Morrisville, Pennsylvania
- 619E. Street, Marysville, California
- 200 Kentucky Street, Petaluma, California
- 296 Summerhill Road, Spotswood, NJ
- 70 Farmington, Hartford Blvd, CT
- 48 Wall Street, Norwalk, CT
- 101 West Ridgecrest Boulevard, Ridgecrest, California
- 7500 Gulf Street, St. Pete Beach, FL
- 1200 Vermont Drive, San Leandro, California
- 7900 Shoal Creek Road, Austin, Texas
- 1253 Avenue, Hayward, California
- 18120 Sherman Road, Reseda, California
- 337 Main Street, Pleasanton, CA
- 936 G Street, Reedley, CA
- 8700 NE Vancouver Mall Drive, Vancouver, WA
- 430 Route 134, South Dennis, Massachusetts
- 1199 Northpoint Mall Circle, Alpharetta, Georgia
- 7804 Abercorn Ext, Savannah, Georgia
More Bank of America closings in 2024
The financial institution reported in November bulletins Early closure of 21 other locationswhile in the two December newsletters shared until December 19, 8 more closures were reported.
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