A New Wave of Bank Closures is Hitting Illinois

A new wave of bank closures is hitting Illinois according to the latest data from the Office of the Comptroller of the Currency (OCC).

Bank closures have also hit New York and California hard this year.

This trend has only grown more in recent months and years as online banking surges in popularity.

Between Citibank, Wells Fargo, JPMorgan, and Bank of America, many banks have begun to close nationwide.

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.

Each week, the Office of the Comptroller of the Currency (OCC) releases a bulletin of banks set to close, and the list continues to grow.

Several more Illinois bank locations have been recently added to the list this week.

• JP Morgan. 50 Skokie Blvd, Wilmette
• JP Morgan. 5200 Dempster St, Skokie
• JP Morgan. 4200 Dempster St, Skokie
• BMO Bank. 9731 Skokie Blvd, Skokie
• Wells Fargo. 10 S. Wacker Drive, Chicago

Other reports state, “If the trend of current bank branch closings continues, there may be no bank branches left in 10 years.”

Here is the latest report on banks closing in Illinois this year.

Also Read: Thousands Now Affected by Massive Layoffs in Illinois

Bank Branches in Illinois Recently Closed

Here is a list of bank branches that recently closed in Illinois.

• Bank Of America. 2 N. Riverside Plaza, Chicago.
• JP Morgan. 5341 N Lincoln Ave, Chicago
• PNC Bank. 302 West Adams St, Chicago.
• Bank of America. 68 Stratford Dr, Bloomingdale
• Bank of America. 2400 N. Richmond Rd, McHenry
• JP Morgan. 3480 West 183rd St, Hazel Crest
• PNC Bank. 13470 Route 59, Plainfield
• JP Morgan. 1000 W. Randolph St, Chicago
• JP Morgan. 923 West Washington Blvd, Chicago
• Home State Bank. 5999 Northwest Hwy, Crystal Lake
• PNC Bank. 13470 S Route 59, Plainfield
• Old Plank Trail Community Bank. 200 West 162nd Street, South Holland.
• Bank of America. 2 N. Riverside Plaza, Chicago

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

Banks Closing in Illinois Soon

The following banks will be closing in Illinois soon.

• JP Morgan. 7007 West Dempster St, Niles
• JP Morgan. 935 West Armitage Ave, Chicago
• JP Morgan. 4854 West Irving Park Rd, Chicago
• JP Morgan. 923 West Washington Blvd, Chicago
• JP Morgan. 600 North Dearborn, Chicago
• JP Morgan. 2365 North Farnsworth Ave, Aurora
• JP Morgan. 444 South Rand Rd, Lake Zurich
• JP Morgan. 1289 South Rand Rd, Lake Zurich
• Associated Bank. 300 N Lasalle, Chicago
• Citibank 227 West Monroe St, Chicago
• JP Morgan. 2968 N. Lincoln Ave, Chicago
• JP Morgan. 50 Skokie Blvd, Wilmette
• JP Morgan. 5200 Dempster St, Skokie
• JP Morgan. 4200 Dempster St, Skokie
• BMO Bank. 9731 Skokie Blvd, Skokie
• Wells Fargo. 10 S. Wacker Drive, Chicago

Also Read: Banks Are Now Closing Thousands of Accounts Daily

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Frank Nez

Our founder, American Journalist Frank Nez, brings you unparalleled market insights, crypto news, business news, and industry updates for retail investors. Frank’s journalism has been cited by SEC and Congressional reports. Frank Nez is now a verified journalist on Muck Rack.

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