Another massive bank is now closing branches in Texas according to the latest data from the Office of the Comptroller of the Currency.
Each week, the OCC releases a report of bank branches scheduled to close, and unfortunately, Texas has been hit hard by several major bank branches closing.
The latest bank to schedule a branch to close in Texas is PNC at 411 State Highway 147, Broaddus.
The PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania.
Its banking subsidiary, PNC Bank, operates in 27 states and the District of Columbia, with 2,629 branches and 9,523 ATMs.
In October of last year, PNC announced it would lay off 4% of its workforce.
However, PNC is only one of many banks closing branches in Texas.
Below is a full list of bank branches that have recently closed or will close soon in Texas:
- Wells Fargo. 321 University Dr, College Station
- Wells Fargo. 1155 Union Circle, 2ND FL RM 222, Denton.
- Wells Fargo. 700 Jackson, Richmond
- Wells Fargo. 14999 Preston Rd, Building F, Dallas
- Verabank. 1100 Williams Dr, Georgetown
- American Bank. 12145 FM 1960 West, Houston
- Wells Fargo. 3580 Frankford Rd, Dallas
- Wells Fargo. 1200 Flower Mound Rd, Flower Mound
- JP Morgan. 213 W Greens Rd, Houston
- Wells Fargo. 2824 Hillcroft St, Houston
- Bank of America. 9660 Hillcroft St, Houston
- Wells Fargo. 1420 West Mockingbird Lane, Dallas
- JP Morgan Chase. 16802 El Camino Real, Houston
- Capital One. 2301 E. Riverside Dr, Austin
- Capital One. 2910 S. Lakeline Blvd, Cedar Park
- Wells Fargo. 11152 S. Gessner Dr, Houston
- Woodforest NB. 80 Uvalde, Houston
- JP Morgan. 14114 Dallas Parkway, Dallas
- Wells Fargo. 1420 West Mockingbird Lane, Dallas
- JP Morgan Chase. 16802 El Camino Real, Houston
- JP Morgan. 1200 Clear Lake City Blvd, Houston
- JP Morgan. 3103 FM 528 Friendswood
- Home Bank. 12941 Gulf Freeway, Houston
- Home Bank. 251 West Medical Center, Webster
- Bank of America. 7900 Shoal Creek Blvd, Austin
- First NB. 5671 Treaschwig Rd, Spring
- Bank of America. 7900 Shoal Creek Blvd, Austin
- Wells Fargo. 8903 West Military Dr, San Antonio
- First American Bank. 25700 I-45 North, Spring
- JP Morgan. 2902 North Beltline Rd, Irving
- Wells Fargo. 500 W. University Ave, El Paso
- Wells Fargo. 2514 Southmost Rd, Brownsville
- PNC Bank. 2209 W Northwest Hwy, Dallas
- PNC Bank. 512 N Oregon St, El Paso
- Capital One. 4000 Waller Creek, Highland Village
- Capital One. 2000 Preston Rd, Plano
- Wells Fargo. 4900 E. Belknap St, Haltom City
- Capital One Bank. 5431 Bissonnet St, Houston
- Capital One Bank. 21210 Kuykendahl, SpringU
- Capital One Bank. 4414 N. Freeway, Houston
- Capital One Bank. 25907 Northwest Freeway, Cypress
- Capital One Bank. 7919 Kirby Dr, Houston
- Verabank. 415 South First St, Lufkin
- Verabank. 504 S. 2nd St, Lufkin
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Also Read: A Massive US Bank is Now Closing Credit Cards
Other Banking News Today
A massive Texas bank now closes branches and begins layoffs, part of a plan to reduce its expenses according to its CFO.
Dallas-based Comerica eliminated roughly 250 positions and closed 26 branches in the fourth quarter, CFO Jim Herzog told analysts last week.
“To enhance colleague efficiency and key decision makers close to our customers, we are streamlining our management structure and eliminating select roles,” Herzog said on an earnings call Friday.
The remainder of the cuts are connected to branch closures, he said.
As a regional bank, Comerica occupies a unique niche within the banking industry, combining a number of “big bank” products and services with a more localized and personalized touch reminiscent of community institutions.
The layoffs cost Comerica $25 million in severance charges, which Herzog said were “intended to enhance future earnings power and create capacity for investment.”
Dubbing the eliminations “expense re-calibration efforts,” Herzog said the bank is now better positioned to enhance its funding base, revenue mix, capital efficiency and risk management framework.
A bank spokesperson told The Dallas Morning News that 28 of the 250 layoffs were based in the Dallas area and were primarily non-customer-facing.
While the spokesperson didn’t provide details as to where branch closures occurred, none were in the bank’s home market of Dallas-Forth Worth, they said.
“We will continue to manage expenses closely, which will ultimately create capacity for investments that will benefit our customers,” the spokesperson said.
In all, Comerica aims to reduce expenses this year by $45 million, which the bank expects will grow to $55 million in savings in 2025.
Part of that savings will come from optimizing its product offerings, Herzog said, to enhance capital efficiency and returns; and from reviewing and renegotiating select contracts.
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Also Read: A US Bank is Now Denying Customers Access to Money
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