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

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

by Jack
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Wells Fargo announced its first branch expansion strategy in October, focusing on opening new locations in the Chicago metropolitan area.
  • US banks closed a total of 18 branches between March 10 and 16
  • Wells Fargo was the leader, accounting for nearly half of the closings.
  • Has your local bank branch recently closed? Write to money@dailymail.com

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Wells Fargo this month announced the closure of eight branches in a single week, joining eight other banks to close a total of 18.

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

They 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. This brought the total openings to nine, half the number of scheduled closures.

Therefore, banks continue to close branches much faster than they open them, focusing on closing rural locations and consolidating around cities.

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

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

Chase has been an outlier among major banks because it has been steadily increasing the number of branches.

Chase has been an outlier among major banks because it has been steadily increasing the number of branches.

Chase has been an outlier among major banks because it has been steadily increasing the number of branches.

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

Overall, Wells Fargo has been leading the way when it comes to bank branch closures.

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

Added to this is US Bank, which this year has already said it would close a total of more than 50.

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

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

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

Since then, the number of physical branches has decreased fairly steadily to around 70,000.

This year, Chase said it would open 500 branches across the United States over 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 Jan. 1 and Dec. 22, nearly six times more than Bank of America, which came in second by opening 32.

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Closing of bank branches (March 10 – March 16)
Bank City State Location
Wells Fargo Tallahassee Florida 3400 South Monroe St.
Wells Fargo Tallahassee Florida 444 Gamble St.
Wells Fargo tampa Florida 7931 Gunn Hwy.
Wells Fargo jackson EM 188 East Capital St. Suite 100
Wells Fargo Kannapolis NORTH CAROLINA 704 N. Cannon Blvd.
Wells Fargo charlotte NORTH CAROLINA 1500 Westinghouse Blvd.
Wells Fargo Mauldin SOUTH CAROLINA 500 North Main Street.
Wells Fargo Arlington Texas 1889 Brown Blvd.
Bank of America NY NY 767 Fifth Avenue.
Bank of America Myrtle Beach SOUTH CAROLINA 7815 N Kings Hwy.
key bank lakewood CO 1858 South Wadsworth Boulevard.
key bank portland ME 85 Chestnut St.
Bank of America The cats California 780 Flor Hill Rd.
Citizens Bank Doylestown Pennsylvania 482 North Main Street.
Eureka Farm Gretna THE 2112 Belle Chasse Hwy Ste.
First Pennsylvania NB pittsburgh Pennsylvania 6000 central avenue.
JPMorgan Chase Sailboat Arizona 5915 West Chandler Blvd.
Lone Star Capital Saint Anthony Texas 420 N. Weidner Rd.
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Bank branch openings (March 10 – March 16)
Bank City State Location
JPMorgan Chase lonely tree CO Lincoln Ave. and Heritage Hills Cir.
JPMorgan Chase Leesburg Florida US Highway 27 and FL-48
JPMorgan Chase Loxahatchee Florida Khaki Boulevard. and Seminole Pratt Whitney Rd.
JPMorgan Chase Mableton Georgia Floyd Rd SW and White Blvd. SOUTHWEST
JPMorgan Chase Arlington Heights ILLINOIS E. Palatino Rd. and E. Rand Rd.
JPMorgan Chase stoughton MOTHER Central St. and Washington St.
JPMorgan Chase Myrtle Beach SOUTH CAROLINA N Kings Hwy and 79th Ave. N.
JPMorgan Chase Spanish fork Utah N. Cyn. Crk. Pkwy. and E. Mkt. Pl. Dr.
WinTrust Bank chicago ILLINOIS 6420 N. Sheridan Rd.

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