Tag Archives: US Bank

More bank closures as society moves to cashless: Last bank branch to close in 2041

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.

Read the original article by clicking here.

More banks announcing closures including Wells Fargo, Chase, and US Bank

Important Takeaways:

  • Wells Fargo axes another 13 branches in a single week as a host of banks shut down vital services – is YOURS on the chopping block?
  • Six banks filed to close almost 40 branches last week leaving millions of Americans without access to vital financial services, with Wells Fargo alone axing 13 locations.
  • Wells Fargo has been a leader in the closure of branches around the country, having closed 160 in the first half of the year, according to data from S&P Global Market Intelligence.
  • And in the latest filings to its regulator, the Office of the Comptroller of the Currency (OCC), it indicated that five would now close in California, three in Florida, and another five elsewhere in the country.
  • Also to notify of closures this week were US Bank, Citizens, Chase and Associated Bank, with seven, three, two and one proposed respectively.
  • Associated is headquartered in Green Bay, Wisconsin, and has 200 branches throughout Wisconsin, Illinois and Minnesota.
  • This year alone a total of 1,144 national and regional banks were closed between January 1 and July 31 across 49 states, according to data from S&P reviewed by DailyMail.com.

Read the original article by clicking here.