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
Is the Altcoin season back? Exploring Bitcoin dominance and the altcoins market's golden crossThe altcoin market has become difficult to navigate during Bitcoin's (BTC) bull cycle, with fragmented narratives, isolated rallies, liquidity crunches and colossal token unlocks.
Author  FXStreet
10 hours ago
The altcoin market has become difficult to navigate during Bitcoin's (BTC) bull cycle, with fragmented narratives, isolated rallies, liquidity crunches and colossal token unlocks.
placeholder
Bitcoin Still In Bull Mode? Realized Price Trend Points To Strong UptrendAlthough Bitcoin (BTC) has surged more than 20% over the past month – partly due to easing global tensions surrounding a potential US-China tariff war – some investors are beginning to question whether the bulk of the upside is already priced in.
Author  Bitcoinist
10 hours ago
Although Bitcoin (BTC) has surged more than 20% over the past month – partly due to easing global tensions surrounding a potential US-China tariff war – some investors are beginning to question whether the bulk of the upside is already priced in.
placeholder
Gold price recovers as US-China trade agreement euphoria fades quickly Gold (XAU/USD) rebounds and trades near $3,260 at the time of writing on Tuesday, recovering from the 2.65% drop the previous day after the US-China trade deal was announced.
Author  FXStreet
11 hours ago
Gold (XAU/USD) rebounds and trades near $3,260 at the time of writing on Tuesday, recovering from the 2.65% drop the previous day after the US-China trade deal was announced.
placeholder
Apple’s Strategic Evolution in Q2 FY25Apple reported Q2 FY25 revenue of $95.4 billion and net income of $24.8 billion, with Services contributing 28% of total sales and 45% of gross profit—showcasing its margin supremacy.
Author  TradingKey
11 hours ago
Apple reported Q2 FY25 revenue of $95.4 billion and net income of $24.8 billion, with Services contributing 28% of total sales and 45% of gross profit—showcasing its margin supremacy.
placeholder
Ethereum Stakers Enter Profit Zone as Price Climbs Above $2,400Ethereum is following the broader crypto market rally with renewed momentum, registering a 38.2% increase in the past week. At the time of writing, ETH is trading above $2,400, continuing its upward
Author  NewsBTC
12 hours ago
Ethereum is following the broader crypto market rally with renewed momentum, registering a 38.2% increase in the past week. At the time of writing, ETH is trading above $2,400, continuing its upward
goTop
quote