minute read
ADVERTISEMENT
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.
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.
ADVERTISEMENT
ADVERTISEMENT
Sign in to comment
Powered by StructureCMS™ Comments
Join and support independent free thinkers!
We’re independent and can’t be cancelled. The establishment media is increasingly dedicated to divisive cancel culture, corporate wokeism, and political correctness, all while covering up corruption from the corridors of power. The need for fact-based journalism and thoughtful analysis has never been greater. When you support The Post Millennial, you support freedom of the press at a time when it's under direct attack. Join the ranks of independent, free thinkers by supporting us today for as little as $1.
Remind me next month
To find out what personal data we collect and how we use it, please visit our Privacy Policy
Comments