Bank of America Massive Branch Closures – Full List

In recent years, the closure of bank branches across the United States has become a growing concern for customers. Bank of America, one of the country’s largest financial institutions, has notably closed more branches than other major banks. This article explores the reasons behind these closures, the recent branch closures, and the impact of digital banking trends.

Bank of America’s Massive Branch Closures

Among the banks significantly affected by closures is Bank of America. According to data from the Office of the Comptroller of the Currency (OCC), more than 400 Bank of America branches have closed nationwide since January 2024. The OCC mandates that banks disclose their intent to close a branch at least 90 days in advance and oversees the opening of new branches.

Steven Reider, founder and president of Bancography, noted that Bank of America has been more aggressive in closing branches that do not overlap with others.

In an interview with the Daily Mail, Reider explained, “Banks are willing to close a branch that doesn’t overlap with another branch in the hope that customers will be willing to walk a little farther. I think Bank of America has chosen to do that more than other big banks.”

Full List of Bank of America Branch Closures (July 9–July 16)

Below is a table detailing the upcoming Bank of America branch closures:

Bank	City	State	Location
Bank of America	KEARNY	NJ	240 KEARNY AVENUE
Bank of America	WILDWOOD	MO	2412 TAYLOR ROAD
Bank of America	STOCKTON	CA	10834 TRINITY PARKWAY
Bank of America	ANTHEM	AZ	39518 NORTH GAVILAN PEAK PARKWAY
Bank of America	PALOS HEIGHTS	IL	12145 SOUTH HARLEM AVENUE
Bank of America	ALBANY	NY	1450 WESTERN AVENUE
Bank of America	TULALIP	WA	8815 QUIL CEDA BOULEVARD
Bank of America	MEMPHIS	TN	2731 UNION AVE EXTENDED

Reasons Behind the Closures

Bank of America’s strategy to close branches can be attributed to several factors:

1. Merger Completion: Following multiple mergers, Bank of America ended up with several branches in rural areas that are underutilized and not cost-effective.
2. Customer Habits: There is a hope that customers will adapt to walking a bit farther to reach the next nearest branch.

Online Banking Trends

The trend of bank branch closures has been accelerating since 2010, particularly during the Covid-19 pandemic, as digital banking services gained popularity. The Midwest and California have been the hardest-hit areas. This shift towards online services is driven by several factors:

1. Tailored Needs: Banks are increasingly using data analytics to provide personalized financial services, such as product recommendations, budgeting tools, and financial advice tailored to individual customer needs.
2. Enhanced Banking Experience: The importance of mobile banking has led banks to develop user-friendly mobile applications featuring bill payment, money transfers, mobile deposits, and investment management.
3. Stricter Security Measures: With the rise of online banking, robust security measures like biometric identification and multi-factor authentication have become essential to protect user data and prevent cyber-attacks.
4. Contactless Payments: The popularity of contactless payment methods, such as mobile wallets and digital tokens, is growing. Banks are promoting these technologies through their mobile applications as a secure and convenient way to pay for goods and services.

The closure of bank branches, particularly by Bank of America, reflects broader changes within the banking industry. These closures are influenced by the drive towards digital banking solutions and the need to optimize branch networks. While these changes pose challenges, especially for customers who rely on physical branches, they also highlight the evolving landscape of financial services towards more digital and personalized solutions.

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