A Massive Bank in Alabama Will Now Shutter Branches Soon

November 27, 2023

A massive bank in Alabama will now shutter branches soon according to the latest reports and updates.

PNC Bank has announced it will close 19 more locations across the United States in February of 2024, including two in Alabama.

321 Bel Air, Blvd, Mobile
2811 Eastern Blvd, Montgomery

The bank employs over 60,000 people nationwide and is one of the largest financial businesses in the U.S.

Here’s what PNC bank had to say in an official statement about its closures:

“PNC recognizes that branches play a key role in how we provide solutions to our clients alongside our other channels.

That’s why we continually study customer and prospect transaction patterns to determine how we can most effectively meet the needs of our communities.”

PNC Bank is not the only bank closing locations, reports Ash Jurberg.

“While some people do their banking online, many still prefer to visit a branch to conduct their finances, so these closures will cause some concern to some customers.

In particular, bank closures have been hitting low-income and majority-minority communities.”

CNBC reports that “according to the National Community Reinvestment Coalition, one-third of the branches closed from 2017 to 2021 occurred in areas that were predominately lower-income and minority areas.”

And according to data from the Federal Deposit Insurance Corporation (FDIC), approximately 8,000 banks were in operation in 2000, but by 2022, this figure was halved.

The rise of online banking is the primary reason why we’re seeing bank closures surge in recent years.

Also Read: A US Bank is Now Denying Customers Access to Money

Other Banking News Today

Chase transactions are now getting declined in the banks latest painful scandal as customer reports surge on Downdetector.

Several Chase customers have been reporting being unable to make purchases both online and in-person during the Black Friday events and specials happening this past weekend.

Chase reported to customers that the bank was having problems globally, a massive concern for those banking with the giant.

“I’m trying to take advantage of Black Friday deals for multiple items for a golf simulator bar I’m opening soon (TVs, CPUs, graphics cards and such).

Totally unimpressed but have taken screen shots of everything I’ve been declined to purchase due to issues today.

I hope they’ll make it right……otherwise I’m gone after many, many years,” says Pete, a Chase customer.

“Yep, failed to work for America Airline and Amazon Prime and it’s a Prime Card.

This is probably costing retailers hundreds of millions in sales.

I switched used another, but some might only have one option,” said another user on Friday.

“Saw a bunch 10ish $1 debits and credits to my transaction history, while trying to figure out why my card was being declined at AT&T while I paid my T-Mobile bill while waiting on a response from AT&T.

Called Chase and was told I would have to “call back in a few hours they are having global problems right now”.

If she would have said the sky is falling I would feel better,” says Tommy Reames.

Many Chase customers were not able to complete their purchases during Black Friday deals due to the banks technical difficulties.

This is a developing story — for more news and updates like this, opt-in for push notifications.

Also Read: The US Treasury Direct is Now Freezing Customer Accounts

Market News Published Daily 📰

Don’t forget to opt-in for push notifications so you don’t miss a single article!

Also, thank you to all of our blog sponsors.

This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Scroll below to view my stock purchases this month!

You can also follow me on X (Twitter), Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.

More Market News 📰