A bank chain with 235 locations now makes unexpected closures citing its decisions for the shutters are a ‘necessary’ move.
Major regional bank, Fulton Bank is shuttering over a dozen locations in the next few months, leaving customers with longer drives to their nearest branch.
The bank has announced that a total of 13 branches will close later this year after it merged with another bank in the spring.
Bank branch closures will occur across southeast Pennsylvania and South Jersey.
The decision comes after an April acquisition of the failed Republic First Bank.
The bank disclosed this information in an SEC filing last week, per local ABC affiliate WPVI-TV.
The closures are scheduled to begin in late November.
“While it’s never easy to close one of our financial centers, it’s sometimes necessary after we evaluate factors including overlapping service areas and trends in how customers conduct their banking,” a spokesperson for Fulton Bank explained, according to the outlet.
The New Jersey Department of Banking and Insurance’s website lists at least 10 requests from various banks to close branches in 2024.
Which bank branches are closing?
Below is a list of the bank branches set to close:
- 1701 John F Kennedy Blvd, Philadelphia
- 1220 N. Broad Street, Philadelphia
- 8000 Frankford Avenue, Philadelphia
- 2100 Street Road, Bensalem, PA
- 1460 East Route 70, Cherry Hill, NJ
- 514 North Kings Highway, Cherry Hill, NJ
- 1302 Route 38, Hainesport, NJ
- 195 N Greentree Rd, Marlton, NJ
- 153 Bridgeton Pike, Mullica Hill, NJ
- 1101 Tilton Road, Northfield, NJ
- 6 Haddonfield-Berlin Road, Voorhees, NJ
- 303 Egg Harbor Rd, Sewell, NJ
- 201 N Rt 73, West Berlin, NJ
Customers do have options to bank with Fulton in the Philadelphia area outside these shuttered locations, but they will have to travel, reports The-Sun.
The nearest location to the shuttered branches in Center City, Philadelphia, for example, is nearly three miles away.
Franknez.com is constantly monitoring the closure of bank branches across the United States.
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Also Read: A Massive US Bank is Now Closing Credit Cards
Other Economy News Today
A banker is now convicted for stealing money from customers while working at Bank of America over a 10-year period.
The personal banker was arrested after her years-long scam, resulting in nearly $300,000 being stolen, came to light.
Police in Seneca, South Carolina said they received a report in 2013 about missing money from an account with Bank of America.
The victim, who also reported the incident to the Customer Service department, told police he was missing around $30,000.
Investigators worked with Bank of America for several weeks after the crime was reported and learned that an employee who had been stealing money from several people in Oconee County.
The police said the victims would use the Bank of America location in Seneca as their primary bank and Bobbi Cortese was their personal banker.
Seneca Police investigators and the US Secret Service spent nearly a decade doing more interviews.
Meanwhile, Bank of America was given time to complete an internal investigation.
It was revealed that Cortese had stolen nearly $300,000 from four people while working at the bank.
Some of the money was in the victims’ bank accounts for life insurance payouts related to the deaths of their spouses.
Others had a lifetime of earnings that was supposed to be used for their retirement, said police.
Cortese would open accounts under the victims’ names without their knowledge or consent and would perform a “shell game.”
This is when a scammer uses the money from one victim to replace what she stole from another victim.
After investigating further, police said Cortese forged several documents and issued them to the victims to hide the theft.
She committed these acts for about four years while working at the Bank of America, said police.
Cortese was arrested in May 2023 and charged with four counts of breach of trust and two counts of forgery.
She was later fired by the bank, reports The-Sun.
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Also Read: A Massive Bank Now Freezes Money From Direct Deposits
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