A major bank is closing dozens of locations after completing an acquisition earlier this year.
Fifth Third Bank will close 81 branches this summer, following the $10.9 billion acquisition of Comerica in February. Of the locations, 59 were originally Comerica branches, and 75 are located in Michigan. California and Texas will each see one location close, while 4 branches will close in Florida.
There have been over 10,000 bank closures since 2019 as customers are relying more on digital services. Customers affected by their local branch closure have options, including discovering more about their bank’s online services and finding branch locations are retailers near them.
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“Fifth Third is building a stronger, more efficient branch network that supports customers today and positions the Bank for long-term sustainable growth in Michigan and across our expanded footprint,” a spokesperson told Banking Dive, referring to Michigan as that’s where the majority of closures are.
Part of the reason for the closures is due to overlapping branches. The majority of locations will have another Fifth Third branch within a mile…