US banks filed to close 10 branches in just one week (2024)

  • Bank of America, PNC and Citizens were among those that closed a total of 10
  • Openings majorly overshadowed closures, with 26 reported in just one week
  • Scroll down to the box below for details of all branches shut this year

By Neirin Gray Desai Consumer Reporter For Dailymail.Com

Published: | Updated:


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US banks notified their regulator of 10 planned branch closures in a single week this month.

Among those shutting locations were Bank of America, PNC and Citizens - each of which announced the closure of two locations.

Meanwhile, Chase, Capitol Federal Savings Bank in Kansas, First National Bank of Middle Tennessee, and State National Bank of Groom in Texas reported one each in the week between April 14 and April 20.

The closures - published by their regulator the Office of the Comptroller of the Currency - were planned across California, Texas, Washington DC, New Jersey, Massachusetts, New York, Kansas and Tennessee.

The closures mean that customers in the area will need to either drive further to another branch or turn to online banking for the majority of services.

It means banks have announced the closure of more than 300 branches so far in 2024 - see the boxes below for the latest ones and links to all the others this year.

Citizens Bank also notified the OCC of two closures between April 14 and April 20

The closures this month however were overshadowed by a very large spate of 26 openings - a sign that the ongoing 'blood branch bloodbath' may be starting to slow.


Click on the links below - each article has the full list of closures for that time period

In January and February,banks closed 222 branches

US Bank filed to shut 19 branches betweenFebruary 25 and 9

Wells Fargo filed to close eight branches between March 10 and 16

PNC, Citibank, Bank of America and Wells Fargo behind 20 branch closuresbetween March 17 and 23

US banks had more openings than closures over a week (March 24 to March 30) for the first time in 2024

US Bank closes ten branches while Bank of America shuts three in the week from March 31 to April 6

TD Bank, Wells Fargo, Bank of America and Chase shut a total of 36 branches between April 7 and 13

What you can do if your local bank branch closes- read our guide

Chase will open 500 branches in the next three years

More than 1,500 banks were shut in 2023

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This most recent week, Chase, which has already filed to open more than 50 branches this year, again led the pack in terms of new branches. It notified the OCC of ten openings in eight states.

Bank of America, which has a track record of mainly closing branches, and Community Bank reported five openings each.

Fifth Third Bank filed to open three locations andAlerus Financial, Coastal Carolina National Bank and Wintrust Bank each said they would open one.

For years big banks were consistently closing branches at a much faster rate than they were opening new ones, with rural and elderly communities impacted worst.

But last month, openings exceeded closuresfor the first time in months.

This year, Chase revealed it would open 500 branches by 2027, investing billions in cities like Boston, Charlotte, Minneapolis, Philadelphia and the DC area.

The last year in which the number of branches in the US increased was 2011, when there were more than 85,000 throughout the US, according to FDIC data. Since then the number has dropped steadily to about 70,000.

Most national banks like US Bank, Bank of America and Wells Fargo have become increasingly confident that online banking can meet most customers' needs.

Closures can lead to significant savings. The average freestanding branch costs $2.6 million a year to run, according to Bancography, an Alabama-based consulting firm that advises banks.

In 2023, more than 1,500 bank branches were shut for good, with California and the Midwest worst-hit.

Bank branch closures (April 14 - April 20)
Bank City State Location
Bank of America El Cajon CA 512 Fletcher Parkway
Bank of America Dallas TX 6085 Campbell Road
PNC Bank Washington DC 1348 Fourth Street, NE
PNC Bank Stirling NJ 1057 Valley Road
Citizens Bank Wellesley MA 390 Washington Street
Citizens Bank Glen Oaks NY 257-15 Union Turnpike
Capitol Federal Savings Bank Lawrence KS 4505 W. 6th Street
First NB of Middle Tennessee Nashville TN 33 Music Square West, Unit 110B
JPMorgan Chase Dix Hills NY 699 Old Country Road
State NB of Groom Amarillo TX 101 South East 11th Avenue
Bank branch openings (April 14 - April 20)
Bank City State Location
JPMorgan Chase Westborough MA Turnpike Road and Otis Street
JPMorgan Chase Raleigh NC Fayetteville Road and Shady Summit Way
JPMorgan Chase Eugene OR West 11th Avenue and Bailey Hill Road
JPMorgan Chase Melissa TX Sam Rayburn Highway and Washington Dr
JPMorgan Chase Fredericksburg VA Monroe Pass Road and Spotsylvania County Parkway
JPMorgan Chase Papillion NE 72nd Street and Peters Parkway
JPMorgan Chase Dover NH Webb Place and Central Ave
JPMorgan Chase Allentown PA Airport Road and Airport Center Road
JPMorgan Chase Prosper TX Dallas Pkwy & Frontier Pkwy
JPMorgan Chase Chesapeake VA Greenbrier Parkway and Eden Way North
Bank of America Brooklyn NY 2095 Ralph Avenue
Bank of America Maplewood MN 3035 White Bear Avenue N
Bank of America Dallas TX 2408 McKinney Avenue
Bank of America St Matthews KY 4621 Shelbyville Road
Bank of America Houston TX 110 S Wayside Drive
Community Bank Amherst NY 3150 Sheridan Dr.
Community Bank Buffalo NY 1091 Main Street
Community Bank Rochester NY 804 N Goodman St.
Community Bank Rochester NY 3330 Monroe Ave.
Community Bank Webster NY 1900 Empire Blvd.
Fifth Third Bank Melbourne FL 3035 W New Haven Avenue
Fifth Third Bank Chapel Hill NC 1800 Fordham Blvd
Fifth Third Bank Greenville SC 3556 Pelham Road
Alerus Financial Shoreview MN 4100 Lexington Ave. N.
Coastal Carolina NB Orangeburg SC 11807 Columbia Road
Wintrust Bank Chicago IL 935 W. Armitage Avenue

TennesseeNew JerseyKansasWashington DC

US banks filed to close 10 branches in just one week (2024)


Which American banks shutter 41 locations in a single week? ›

Over the course of just one week, American banks said they would close 41 branches around the country. Bank of America, Chase, Capital One, US Bank and PNC are among those axing costly brick-and-mortar locations - as the industry increasingly offers services online.

How many banks have failed in the US so far? ›

There were 567 bank failures from 2001 through 2024. See Summary by Year below.

What is the $3000 rule? ›

Rule. The requirement that financial institutions verify and record the identity of each cash purchaser of money orders and bank, cashier's, and traveler's checks in excess of $3,000. 40 Recommendations A set of guidelines issued by the FATF to assist countries in the fight against money. laundering.

Which regional banks are in trouble? ›

The unexpected collapses of three banks - Silicon Valley and Signature in March 2023 and First Republic in May - put a spotlight on how lenders managed risks to assets and liquidity as the Federal Reserve raised interest rates aggressively to bring surging inflation under control.

Which US bank collapsed this week in 2024? ›

April 29 (Reuters) - U.S. regulators on Friday seized Philadelphia-based Republic First Bancorp (FRBK.PK) , opens new tab and agreed to sell it to Fulton Bank, a unit of Fulton Financial Corp (FULT.O) , opens new tab.

Which banks are going under? ›

Earlier last year Silicon Valley Bank failed March 10, 2023, and then Signature Bank failed two days later, ending the unusual streak of more than 800 days without a bank failure. Before Citizens Bank failed in November 2023, Heartland Tri-State Bank failed July 28, 2023 and First Republic Bank failed May 1, 2023.

Which is the safest bank? ›

Summary: Safest Banks In The U.S. Of May 2024
BankForbes Advisor RatingProducts
Chase Bank5.0Checking, Savings, CDs
Bank of America4.2Checking, Savings, CDs
Wells Fargo Bank4.0Savings, checking, money market accounts, CDs
Citi®4.0Checking, savings, CDs
1 more row
Jan 29, 2024

Which banks are in financial trouble? ›

About the FDIC:
Bank NameBankCityCityClosing DateClosing
Republic First Bank dba Republic BankPhiladelphiaApril 26, 2024
Citizens BankSac CityNovember 3, 2023
Heartland Tri-State BankElkhartJuly 28, 2023
First Republic BankSan FranciscoMay 1, 2023
56 more rows

Why are US banks collapsing? ›

Most US banks were similarly exposed to customer withdrawals and underwater bond portfolios, while the Credit Suisse collapse demonstrated the potential for contagion. The Fed's BTFP stopped the panic by allowing US banks to borrow from the central bank using their bonds as collateral.

What is the latest bank failure in 2024? ›

The closure of Republic First marks the first failure of a Federal Deposit Insurance Corporation-insured bank of 2024 and comes after efforts to find a buyer for the bank fell through earlier in the year. According to the FDIC, the bank had about $6 billion in assets and $4 billion in deposits as of Jan. 31.

How much cash can you keep at home legally in the US? ›

While it is legal to keep as much as money as you want at home, the standard limit for cash that is covered under a standard home insurance policy is $200, according to the American Property Casualty Insurance Association.

What is smurfing? ›

Smurfing involves splitting large sums of money into smaller, more easily concealable amounts of illegally obtained funds to avoid detection by authorities, while structuring involves deliberately depositing cash in smaller amounts to avoid reporting requirements.

How much cash can I deposit in a year without being flagged? ›

Banks are required to report when customers deposit more than $10,000 in cash at once. A Currency Transaction Report must be filled out and sent to the IRS and FinCEN. The Bank Secrecy Act of 1970 dictates that banks keep records of deposits over $10,000 to help prevent financial crime.

What banks are most at risk right now? ›

These Banks Are the Most Vulnerable
  • First Republic Bank (FRC) . Above average liquidity risk and high capital risk.
  • Huntington Bancshares (HBAN) . Above average capital risk.
  • KeyCorp (KEY) . Above average capital risk.
  • Comerica (CMA) . ...
  • Truist Financial (TFC) . ...
  • Cullen/Frost Bankers (CFR) . ...
  • Zions Bancorporation (ZION) .
Mar 16, 2023

How many locations does First United bank have? ›

Over 80 locations across Oklahoma and Texas, plus conveniently located ATMs.

Which bank has the most office exposure? ›

Top 20 U.S. Banks by Assets: Commercial Property Exposure
BankTotal AssetsTotal Commercial Real Estate Loans
Wells Fargo & Company$1.9T$145B
U.S. Bancorp$668B$56B
PNC Financial Services Group, Inc.$557B$49B
Truist Financial Corporation$543B$42B
16 more rows
Mar 11, 2024

What is the longest running bank in America? ›

Future Treasury Secretary Alexander Hamilton founds the Bank of New York, the oldest continuously operating bank in the United States—operating today as BNY Mellon.


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