US banks closed more than 700 branches in the first nine months of the year, forcing thousands to travel further to access vital services.
U.S. Bank followed swiftly behind, having closed 101 of their own branches.
Wells Fargo closed 92, Chase 90 and TD Bank 52 in the same period. Scroll down for the full searchable list with addresses.
The rest of the closures were made up of banks such as PNC, Citizens Bank, Woodforest, Fulton and Capitol One.
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The worst hit state was California which saw 86 branches close across the state.
New York saw 64 closures in the first nine months of 2024.
Other badly hit states include Pennsylvania, 47, Texas, 46, Ohio, 45, Florida, 43, and New Jersey, 41.
If the current rate of closures continues for the rest of the year slightly over 1,000 branches will have shut across the country this year alone.
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New research recently revealed that the last physical bank branch could close in the US in 2041.
Experts from Self Financial reached by studying the rate of net closures across the country, which has averaged 1,646 each year since 2018.
A spokesperson for Bank of America told Daily Mail.com that many of the bank’s closures were consolidations, where two local branches are brought together into one.
‘Our financial center network is core to our business and gives us a strategic advantage,’ the spokesperson said in a statement.
‘So far this year, we have opened more than 40 financial centers across the country.
‘We routinely adjust where our centers are located, based on foot traffic into each location. Nearly all of the closures in 2024 have been to combine two nearby centers into one, or to move a financial center to a new location to better serve our clients.’
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Despite the majority of Americans now opting to do the majority of their banking online, customers still prefer to use physical branches for particular services.
It is also a struggle for some older clients to operate services such as mobile banking.
Nearly two-thirds of Americans still use a physical branch to make cash deposits, while over half use them to speak to an in-person adviser, the report found.
39 percent of those polled told Self Financial that they had more trust in banks with physical branches than those without.
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‘Client’s banking preferences and behaviors are changing, including a rapid migration toward digital and mobile banking platforms, and a desire for greater simplicity,’ a spokesperson for U.S. Bank told DailyMail.com.
‘As we evolve along with our clients, we are reevaluating our physical footprint, and in some instances, consolidating branch locations in select markets.
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‘Although we are closing some branches, we continue to open and enhance others, as well as rapidly enhancing our digital capabilities.’
Closures can lead to significant savings for banks, since the average freestanding branch costs around $2.6 million a year to run.
Banks must report all planned closures and openings to the Office of the Comptroller of the Currency (OCC), a federal banking regulator.
Each week, it publishes a summary of these. DailyMail.com analyzed these to compile the details of total closures so far this year.
A spokesperson for Wells Fargo also defended the bank’s closures in the first nine months of the year.
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‘Branches continue to play an important role in the way we serve our customers in combination with our mobile app, online website and ATMs,’ a spokesperson told DailyMail.com.
‘We are actively investing in our branch network by opening new locations and refurbishing our entire network.
‘While we continue to optimize our branch footprint, we are doing so with as little net impact as possible to our customers and the communities we serve.
