U.S. Bank Branch Closures Surge: 145 Shuttered in 5 Weeks—Crisis or Digital Shift?

Source Tradingkey

TradingKey – While Trump’s tariffs and recession fears dominate Wall Street headlines, a quieter trend is unfolding across the banking sector: a steady wave of branch closures at major institutions including Bank of America, Wells Fargo, and JPMorgan Chase.

Between February 7 and March 14, several banks notified the U.S. Office of the Comptroller of the Currency (OCC) of plans to close 145 branches within just five weeks.

Flagstar Bank and TD Bank led the pack, announcing the closure of 44 and 38 branches respectively, while JPMorgan Chase reported 9 branch shutdowns. 

It’s important to note that these announcements refer to the closure of physical branch locations - not full-scale bank bankruptcies. Additionally, filing a notice with the OCC does not necessarily mean closures are final.

Industry insiders warn that the pace of branch shutdowns could accelerate in 2025, potentially surpassing last year’s 1,043 closures by over 4%.

However, analysts suggest this trend reflects ongoing digital transformation rather than financial instability. 

Experts argue that as society continues its shifts toward cashless transactions, reduced foot traffic at branches—despite the fact that 200 million Americans still rely on cash deposits—has contributed to longer wait times and a decline in in-person customer service quality.

Research suggests the last physical U.S. bank branch could close as early as 2041.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bitcoin volatility drops to third-lowest level since 2012 amid rise in BTC treasury companiesBitcoin (BTC) trades above $108,000 on Tuesday following a steady decline in its volatility in the first half of the year, marking the third-lowest H1 volatility since 2012.
Author  FXStreet
Yesterday 02: 11
Bitcoin (BTC) trades above $108,000 on Tuesday following a steady decline in its volatility in the first half of the year, marking the third-lowest H1 volatility since 2012.
placeholder
AUD/NZD inches higher to near 1.0900 as RBNZ maintains Official Cash Rate at 3.25%AUD/NZD holds ground after the Reserve Bank of New Zealand (RBNZ) decided to stand pat on the policy rate after six consecutive cuts, trading around 1.0890 during the Asian hours on Wednesday.
Author  FXStreet
Yesterday 03: 03
AUD/NZD holds ground after the Reserve Bank of New Zealand (RBNZ) decided to stand pat on the policy rate after six consecutive cuts, trading around 1.0890 during the Asian hours on Wednesday.
placeholder
Ethereum Price Turns Positive — More Upside Likely if Momentum HoldsETH is now consolidating gains and might aim for a fresh move above $2,620.
Author  NewsBTC
Yesterday 03: 26
ETH is now consolidating gains and might aim for a fresh move above $2,620.
placeholder
Jeff Bezos sold nearly 3 million Amazon shares for $665.8 million in early JulyJeff Bezos has sold nearly three million shares of Amazon in the first two days of July, offloading a total of $665.8 million.
Author  Cryptopolitan
Yesterday 03: 43
Jeff Bezos has sold nearly three million shares of Amazon in the first two days of July, offloading a total of $665.8 million.
placeholder
Gold price slides further below $3,300, over one-week low amid a firmer USDGold price (XAU/USD) trades with a negative bias below the $3,300 mark during the Asian session on Wednesday and drops to a one-and-a-half-week low in the last week.
Author  FXStreet
22 hours ago
Gold price (XAU/USD) trades with a negative bias below the $3,300 mark during the Asian session on Wednesday and drops to a one-and-a-half-week low in the last week.
goTop
quote