More Massive Banks in Illinois Will Now Shutter Soon

December 8, 2023

More massive banks in Illinois will now shutter soon according to the latest filings with the Office of the Comptroller of the Currency (OCC).

Last week, five new locations have been added to the growing list of bank closures in Illinois.

This time, Associated Bank announced it is closing several locations in Illinois as part of a strategy to consolidate its physical presence, per Biz Journal.

“Since 2020, we have seen an industry-wide acceleration to digital banking, based on increased customer adoption.

Our branch, call center and strong digital capabilities allow customers to bank with us on their terms and require a smaller branch network,” a spokesperson said.

Between 2017 and 2021, 9% of all branches — almost 7,000 locations— shut their doors.

The increase in bank closures means many people must travel further to reach their nearest bank, primarily impacting vulnerable and older customers.

Online banking is the primary reason as to why we’re seeing less and less physical branches now.

CNBC reports this leads to “banking deserts when communities are without access to a bank or credit union within 10 miles.

Several studies have shown these communities are more likely to use non-traditional and high-fee lending options such as payday loans and check-cashing services, which increases financial inequities and ends up widening the wealth gap.”

Below is a list of banks that have closed in Illinois or are scheduled to close soon:

Also Read: Massive Layoffs in California Now Underway Prior to Holidays

List of Banks Closing in Illinois

Below is a full list of massive banks closing in Illinois soon:

200 East Randolph Dr, Chicago
1 Junction Dr West, Glen Carbon
105 East State Street, Hamel
Bank Of America. 2 N. Riverside Plaza, Chicago.
Chicago PB. 10 S. Wacker Dr, Chicago
PNC Bank. 5650 South Brainard Ave, Countryside
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
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
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
Huntington NB. 4355 N. Sheridan Rd, Chicago
Huntington NB. 5667 W Touhy Ave, Niles
Keybank. 101 West Lawrence Ave, Chicago
Keybank. 1301 Meijer Dr, Rolling Meadows
PNC Bank. 1140 N Main St, Gainesville
PNC Bank. 2217 W Market St, Bloomington
PNC Bank. 1949 E Sangamon Ave, Springfield

Also Read: A Massive Bank Now Closes Several Branches in Florida

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