Major banks to close 31 branches in one week across US

Between February 11 and 17, a number of the United States' largest banks revealed that they would be closing over 30 bank branches across the country.

During that same time period, 15 new branches were announced.

According to the Daily Mail, of the 31 branches slated to be closed, over half belong to Wells Fargo or PNC, with each shuttering eight locations in California, Texas, North Dakota, Indiana, Michigan, Pennsylvania, Alabama, New Jersey, Connecticut, and Florida.

The remaining closures were filed by Bank of America, five, Santander Bank, four, JPMorgan Chase, three, and Citizens Bank, KeyBank, and Legacy, one apiece.

Of the banks listed, only JPMorgan Chase was the only institution to open more locations than it closed, with five new branches set to start serving customers.

While most banks have moved to reduce the number of brick and mortar locations as more and more financial activity moves online, JPMorgan Chase has gone the other direction, vowing to open up an additional 500 branches in the United States over the next three years.

Some of the new locations, including those on New York City's Columbus Circle and San Francisco's Pine Street, appear to be geared towards a more exclusive customer base, with officials revealing that they will be fitted with "living rooms, private meeting spaces and board rooms, and a signature library."

As the Daily Mail reports, in 2023, banks filed to close 1,566 branches while only 472 branches were planned to be opened.