A wave of bank branch closures is sweeping across the country, with Bank of America leading the latest round of shutdowns. Branches in multiple states are slated to close their doors permanently as financial institutions reevaluate the cost of maintaining physical locations in a digital-first world.
Bank of America has already begun winding down operations at several branches in California, Florida, Illinois, Kentucky, Massachusetts, Nevada, South Carolina, Texas, Virginia, and Washington. In total, at least 19 locations are closing this year, with some already shuttered and others set to close in the coming months.
The move is part of a broader trend among major U.S. banks. Since 2018, an average of over 1,600 bank branches have closed annually, according to fintech data. California and Florida have seen the highest number of closures over the past decade, and the pace hasn’t slowed. In March alone, 32 more bank branches closed nationwide.
Bank of America isn’t alone. Other major institutions like JPMorgan Chase, Wells Fargo, and PNC Bank have also reduced their physical footprints. With digital banking options becoming more robust—offering check deposits, money transfers, and investment tools—fewer customers are visiting traditional branches. Most in-person visits now revolve around complex issues or specific services requiring a teller.
The shift isn’t just about convenience. Banks are looking to cut costs on rent, utilities, and maintenance. One recent example is Flagstar Bank, which plans to close at least 60 branches this year as part of a cost-saving strategy following a reported $845 million loss in 2024. New York alone will lose 14 of those locations. Flagstar’s leadership believes the move will help restore profitability by the end of the year.
Looking ahead, the trend shows no signs of slowing. Experts warn that if the current pace continues, physical bank branches could largely vanish by 2041. A growing number of Americans—more than a third—already believe the banking system is overdue for change.
🏦 Bank of America Branch Closures by State
California
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134 South Church Street, Grass Valley
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1510 The Alameda, San Jose
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3150 Campus Drive, San Mateo
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4551 2nd Street, Suite 120, Davis
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16811 Algonquin Street, Huntington Beach
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5800 Santa Rosa Road, Camarillo
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445 Powell Street, San Francisco
Florida
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10690 Forest Hill Boulevard, Wellington
Illinois
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240 N Randall Rd, Lake in the Hills
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3210 W IL Route 60, Mundelein
Kentucky
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201 Bastogne Avenue, Fort Campbell
Massachusetts
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One Post Office Square, Lynnfield
Nevada
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399 South Fourth Street, Las Vegas
South Carolina
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910 Savannah Highway, Charleston
Texas
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1206 South Bowen, Arlington
Virginia
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9280 Old Keene Mill Road, Burke
Washington
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1201 Madison Street, Seattle
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4323 SW Admiral Way, Seattle
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9019 Rainier Avenue South, Seattle