In a move that’s causing concern for many Americans, Bank of America has announced the closure of several physical branches across the country. This step is part of a growing trend where major banks are moving away from brick-and-mortar branches and focusing more on online banking services.
Although digital banking has become the norm for many, the decision to shut down branches is affecting people who still rely on in-person banking, especially seniors, people with disabilities, and low-income families.
Why Are Bank of America and Other Banks Closing Branches?
The shift towards online and mobile banking has led banks to rethink their need for physical locations. According to industry reports, over 320 bank branches have closed in the U.S. this year alone. Bank of America, Wells Fargo, Chase, TD Bank, and others are following the same path.
The COVID-19 pandemic fast-tracked this change, as many customers became comfortable managing their finances digitally. Banks are now focusing on improving their online platforms and reducing their operating costs by shutting down branches that are no longer seeing high foot traffic.
Some experts predict that by 2041, we may see the last physical bank branch shut its doors in the U.S.
Which Banks Closed Branches Recently?
Apart from Bank of America, here are other popular banks that have closed several branches:
- Wells Fargo and Chase – Closed 145 branches in just 5 weeks
- TD Bank – Closed multiple locations, with more closures planned
- Citizens Bank, Fulton Bank, PNC Bank – Closed branches in Pennsylvania
Branches Closed in Pennsylvania
Citizens Bank:
North Wales, Havertown, Feasterville-Trevose
Fulton Bank:
Bellefonte, Hellam, Shrewsbury, Berwick, Dillsburg, Williamsport, Sunbury
PNC Bank:
Coraopolis, Butler, Bellefonte, Philadelphia
TD Bank:
Philadelphia, Frazer, Morrisville
Wells Fargo:
Matamoras, Red Lion, Philadelphia
Full List of Bank of America Branches Closing in 2025
California
- Grass Valley – April
- San Jose, San Mateo – May
- Davis – June
- Huntington Beach – October
- Camarillo – November
- San Francisco – December
Florida
Wellington – May
Illinois
Lake in the Hills, Mundelein – January
Kentucky
Fort Campbell – September
Massachusetts
Lynnfield – March
Nevada
Las Vegas – September
South Carolina
Charleston – October
Texas
Arlington – September
Virginia
Burke – May
Washington
Seattle: Madison Street (Jan), Admiral Way (Feb), Rainier Ave (Apr)
Who Will Be Most Affected?
While many customers have embraced online banking, not everyone finds it easy.
- Senior citizens often find digital platforms confusing and prefer face-to-face services.
- People with disabilities may have accessibility issues.
- Low-income families may not have access to smartphones, internet, or digital banking knowledge.
These groups could struggle the most with the transition to fully online banking services.