BANK of America, JPMorgan Chase, and Fifth Third, among other major banks, have shuttered 16 branches in a single week.
The shutdowns come as bank closures sweep the nation, with one main reason driving the trend and leading to a record number of locations on the chopping block.
Bank branch closures are sweeping the nation due to a key reason[/caption]
JPMorgan Chase, the biggest bank in the US, has axed a number of branches in recent weeks[/caption]
Fifth Third Bank customers have seen several closures this year[/caption]
This year so far, one bank has failed – Pulaski Savings Bank in Chicago – and a number of banking giants have revealed plans to shutter several branches.
More than 300 US branch closures were planned in the first quarter of 2025 alone, with US Bancorp topping the list and reporting 50 net branch closures.
Wells Fargo saw the second-most net closures during that period at 23, followed by Citizens Financial Group with 21 net branch closures, per S&P Global data.
Bank of America, PNC Financial Services, and Huntington Bancshares tied for fourth place, with 18 net branch shutdowns each.
The trend of bank closures has continued as 2025 progresses, with 16 branches getting the axe during the week lasting June 29 through July 5.
JPMorgan shuttered the most number of branches during that period, with six locations closing for good, according to data from the Office of the Comptroller of the Currency, or OCC.
US Bank, owned by US Bancorp, saw the second most shutdowns the week of June 29, closing three spots.
Fifth Third, Bank of America, PNC, and Citibank, among other banks, also shuttered branches.
During that week, the OCC also received 22 notices of planned closures and approved 19 branch closures.
BANK BUST
The trend of bank branch shutdowns has significantly spiked in recent years, with an average of over 1,600 locations closing annually since 2018.
The main factor pushing bank closures is the rise of online and mobile banking, leading to a major drop in the need for physical bank branches.
More customers are handling routine transactions such as check deposits and bill payments online, as well as general account management.
This has led to a decline of foot traffic in physical locations, prompting major banks to reduce their extensive branch networks.
The shift toward digital banking was sped up by the COVID-19 pandemic, spiking the rate of branch closures as Americans grew more accustomed to remote banking.
Bank Closures
The Office of the Comptroller of the Currency reported 16 bank closures from June 29 through July 5:
- US Bank – 8555 West Sahara Avenue Las Vegas, NV – 6/30/2025
- US Bank – 8375 W. Deer Valley Road Peoria, AZ – 6/30/2025
- US Bank – 4600 Leetsdale Drive Glendale, CO – 6/30/2025
- JPMorgan Chase – 442 Baseline St Cornelius, OR – 7/1/2025
- JPMorgan Chase – 1216 W. Southern Ave Mesa, AZ – 6/30/2025
- JPMorgan Chase – 16380 W. Waddell Rd Surprise, AZ – 6/30/2025
- JPMorgan Chase – 6540 Fairview Rd Charlotte, NC – 7/1/2025
- Fifth Third – 50 South Flamingo Rd Pembroke Pines, FL – 6/30/2025
- Verabank – 3000 Barron Road College Station, TX – 6/30/2025
- JPMorgan Chase – 595 Ritchie Hwy Severna Park, MD – 7/1/2025
- PNC Bank – 5726 Baltimore Ave Philadelphia, PA – 6/30/2025
- Bank of America – 8521 W Franklin Road Boise, ID – 6/30/2025
- Blackrock Institutional Trust Company – 400 Howard Street San Francisco, CA – 7/1/2025
- Citibank – 300 East State Street Redlands, CA – 7/2/2025
- Citicorp Trust Bank – 20 Montchanin Road, Suite 180 Greenville, DE – 7/1/2025
- JPMorgan Chase – 1111 Polaris Parkway Columbus, OH – 6/30/2025
Source: OCC
Since 2020, the rate of bank branch shutdowns across the country has doubled.
Mergers and acquisitions have also resulted in the consolidation of overlapping branches and services, increasing closure numbers.
As a result of these factors, major institutions including Bank of America, JPMorgan Chase, Wells Fargo, and other regional banks have been axing numerous locations in an effort to reduce costs and reinvest in technology.
Some experts predict that if the current trend of closures continues, physical bank branches could be extinct in the US by 2041.
One trusted bank confirmed it shut down 13 locations on the same day – see if your branch was affected.
Meanwhile, a popular bank with over 400 spots is planning to close 18 branches in August – it follows 148 closures by rivals.
Bank of America has already closed several branches in 2025[/caption]
