Major US banks closed 65 branches in just three weeks – is YOURS affected?

Major banks closed 65 branches across the country in just three weeks.

Bank of America and US Bank led the closures, each closing 11 locations

This was the most for any bank during this period and is consistent with its high branch closure figures during the year. BofA has closed 132 so far in 2024.

Wells Fargo, Associated Bank and Citizens Bank also closed branches in the period from October 15 to November 5. Scroll down to see the full list with addresses..

California experienced the highest concentration of closures, losing ten branches during this time.

Pennsylvania experienced eight closures, followed by Florida and Ohio, where six occurred.

It comes after DailyMail.com revealed that banks had closed more than 700 branches in the first nine months of the year.

If the current pace of closures continues for the rest of the year, just over 1,000 branches across the country will have closed this year alone.

It shows no signs of slowing down. In just one week in October, American banks closed 35 branches. During another two-week period that month, the total was 46.

New research recently revealed that the last physical bank branch could close in the US by 2041.

Self Financial Experts reached the figure by studying the rate of net closures nationwide, which has averaged 1,646 each year since 2018.

Even though most Americans now choose to do most of their banking online, customers still prefer to use physical branches for particular services.

It is also difficult for some older customers to operate services such as mobile banking.

Nearly two-thirds of Americans still use a physical branch to make cash deposits, while more than half use them to speak with an advisor in person, according to the report.

39 percent of respondents told Self Financial that they had more trust in banks with physical branches than those without.

“Customer banking preferences and behaviors are changing, including a rapid migration toward digital and mobile banking platforms, and a desire for greater simplicity,” a US Bank spokesperson told DailyMail.com.

US banks closed a total of 754 branches in the first nine months of the year

‘As we evolve alongside our customers, we are re-evaluating our physical footprint and, in some cases, consolidating branches in select markets.

“Although we are closing some branches, we continue to open and improve others, as well as rapidly improve our digital capabilities.”

The closures can generate significant savings for banks, with the average independent branch costing about $2.6 million a year to run.

Banks must report all planned closings and openings to the Office of the Comptroller of the Currency (OCC), a federal banking regulator.

Every week he publishes a summary of these. DailyMail.com analyzed them to compile details of total closures so far this year.