Bank of America Branch Closures Now Surge Before Year Ends

Bank of America branch closures are now surging before the year ends. The massive U.S. bank is closing dozens of branches across 15 states.

Just recently, Wells Fargo said it was closing another major bank branch in Virginia, while PNC Bank said it was closing 18 branches in Colorado and Arizona.

Now Bank of America has announced that it will close a total of 24 more bank branches by the end of the year.

The Bank of America branch closures list includes:

Arizona:

• 3410 West Chandler Boulevard, Chandler

California:

• 10046 Bruceville Road, Elk Grove
• 8959 Elk Grove Boulevard, Elk Grove
• 4510 Franklin Avenue, Los Angeles
• 250-A Redwood Shores Parkway, Redwood City
• 5615 Snell Avenue, San Jose

District of Columbia:

• 1090 Vermont Avenue NW, Washington, DC

Georgia:

• 2597 George Busbee Parkway NW, Kennesaw
• 2781 Cobb Parkway, Kennesaw

Maine:

• 849 Main Street, Westbrook

Maryland:

• 142313 Jarrettsville Pike, Phoenix
• 11800 Rockville Pike, Rockville

Massachusestts:

• 41 Beacon Street, Framingham
• 1245 Worcester Road Suite 1000, Natick

Michigan:

• 40950 Van Dyke Avenue, Sterling Heights

Missouri:

• 2621 Dunn Road, St. Louis

New Jersey:

• 3131 Route 38, Mount Laurel

New York:

• 560 2nd Avenue, New York

Rhode Island:

• 50 West Shore Road, Warwick

South Carolina:

• 2275 Ashley Crossing Drive, Charleston
• 2021 Sunset Boulevard, West Columbia

Virginia:

• 1801 Greenbrier Parkway, Chesapeake

Washington:

• 128 Bendego Boulevard N, North Bend
• 1309 4th Avenue, Seattle

Comments From Bank of America on Its Branch Closures

Bank of America‘s Head of US Equity and Quantitative Strategy, Savita Subramanian says that the economy has slowed down.

She described the US economy as a “classic stagflationary market environment,” meaning that growth has been slow.

For Americans, it means new hiring is sluggish, paychecks remain the same, all while costs everywhere are rising.

One person wrote on Facebook, “They are not closing – they are shifting to a more digital approach since people don’t go in person anymore. Still one of the largest banks in the US.”

Another posted, “Lots of online banking might be the reason.”

One banking customer joked, “If they do [close], I hope they take my bill with them.”

But today’s economy is affecting more than just bank branch closures.

It’s affecting housing sales and where Gen Z and Millennials are investing their money.

More Economy News:

• Home Sales Fall To A New Record Low
• More US Consumers Are Beginning to Cut Retail Spending
• Fed Report: Auto Loan and Mortgage Delinquencies Soar Amongst Americans
• Gen Z And Millennials Are Now Choosing Stocks Over Houses

The closure of major U.S. bank branches isn’t new.

Major banks such as Wells Fargo, Bank of America, PNC, Citizens, and others have been pivoting towards the growing demand for online banking.

This new retail banking trend has forced the closure of underperforming branch closures and consolidation of physical locations.

Still, communities where older citizens still visit physical branches is creating a stir for them.

Many older citizens will have to commute farther for their banking needs.

You can subscribe to our newsletter for weekly economy, business, and financial news.

Follow me on X, Instagram, Facebook, and LinkedIn.

Read news and journalism stories here.

Keep scrolling for more top stories.

Enjoy FrankNez?
⭐ Add FrankNez as a Preferred Source on Google to see more of our coverage in Google Search.