Important Takeaways:
- Banks filed notice to shut down 107 locations between January 12 and February 6, as experts warn that 2025 could be the worst year yet for closures.
- US Bank, Wells Fargo and PNC were among the financial institutions notifying the Office of the Comptroller of the Currency (OCC) of their planned closures.
- The OCC publishes these filings in a weekly report. While the listings indicate intent to close, they are not final confirmations.
- US Bank led the closures with 31 locations, while Wells Fargo followed with 26 closures.
- Fulton Bank also filed to close 15, PNC, 10, Huntingdon, 8, Bank of America, 5 and Chase, 2. Scroll down to see the full searchable list.
- Last year, banks closed a total of 1,043 branches, leaving communities with dwindling local services.
- Darren Kingman from Root Digital… ‘There’s no doubt we’re moving towards a cashless society but this increase in people per bank branch and the fact over 200 million Americans still make cash deposits will only mean longer wait times in banks and a potentially lower overall customer experience,’ Kingman explained.
- The closures continue at pace despite the fact that 45 percent of Americans still prefer to carry out their banking needs in person, a new survey carried out by GoBankingRates found.
- ‘The shift towards online banking is growing more intense in 2025,’ GoBankingRates lead data content researcher Andrew Murray told DailyMail.com.
- Meanwhile, new research recently revealed that the last physical bank branch could close in the US in 2041.
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