A TRUSTED bank has confirmed that it’s shut down 13 locations on the same day.
The bank has been forced to close nearly 20 more spots in recent months following industry pressure.
A trusted bank has confirmed that it’s shut down 13 locations on the same day[/caption]
Last month, The US Sun reported on the struggles facing the banking sector.
In the period of April 1 to April 26, 14 different banks were forced to shut down locations.
Overall, 42 different branches were closed in under a month.
Flagstar topped that unfortunate list with 16, followed closely by Bank of America with nine closures of its own.
Chase and U.S. Bank both closed three each, and other names on the list included Citizens Bank, KeyBank and PNC.
Stepping back a little bit and focusing on the first quarter of 2025 paints a similarly grim picture for Flagstar,
In the first quarter of 2025, 272 have already been logged.
Flagstar has closed a total of 44 branches in the first quarter of the year.
This is followed by TD Bank with 37, US Bank with 35, Wells Fargo with 32 and Bank of America with 16.
MORE FLAGSTAR CLOSURES
Now, data shows that Flagstar has shut an extra 13 locations on one day, back at the end of last month.
Records from the Federal Deposit Insurance Corporation (FDIC) show that on May 30, over a dozen Flagstar spots closed.
All of these were full service brick and mortar stores, and could be found across the country.
In May, other banks that closed branches included Wells Fargo, First-Citizens Bank and Comerica Bank.
WHY IS THIS HAPPENING?
Experts believe that this is all happening because more and more companies are moving online.
The 13 Flagstar banks closed on May 30, 2025
- 1608 Kings Hwy Brooklyn, NY 11229
- 29049 Joy Rd Westland, MI 48185
- 2926 Mishawaka Ave South Bend, IN 46615
- 4675 32nd Ave Ste 110 Hudsonville, MI 49426
- 914 Charlevoix Dr Ste 100 Grand Ledge, MI 48837
- 949 Broadway Bayonne, NJ 07002
- 65-30 Kissena Boulevard Flushing, NY 11355
- 133 S Livingston Ave Livingston, NJ 07039
- 210 W Huron St Ann Arbor, MI 48104
- 19402 Northern Blvd Flushing, NY 11358
- 500 Woodward Ave Ste 100 Detroit, MI 48226
- 1 N Hawkins Ave Akron, OH 44313
- 5770 Coventry Ln Fort Wayne, IN 46804
But there is still the worry that fully online banking could alienate some older users.
Bankrate’s chief financial analyst Greg McBride told DailyMail.com.: “Industry consolidation — both in the number of banks and branches — is a long-standing trend that will continue, especially as more transactions move online.
“Consumers and small businesses in rural areas are the most impacted, particularly business owners that must make a daily bank run to deposit cash or consumers that lack viable transportation.”
GoBankingRates lead data content researcher Andrew Murray added: “The shift towards online banking is growing more intense in 2025.
“Despite the trend towards online banking, our survey data shows more than half of Americans are concerned about the rising number of physical branches that have shut down in the past few years.
“Meanwhile, a whopping 76% says that the current banking system needs small or major changes.”
Data shows that Flagstar has shut an extra 13 locations on one day, back at the end of last month[/caption]
