Major US Banks Shut Down Over 100 Branches in Two Months

In recent weeks, several major US banks have closed numerous branches, leaving many communities without essential banking services. Notably, institutions like Chase, Wells Fargo, and Bank of America collectively shut down 105 physical locations between mid-May and mid-July.

Wells Fargo had the highest number of closures, shutting down 31 branches alone. This comes after regulators lifted the bank’s asset cap to $1.95 trillion. Interestingly, Bank of America closed 15 branches, while Community Bank cut 12 locations. Chase contributed by closing eight branches, alongside nearly 39 additional closures spread across banks like PNC, Santander, and UMB Bank.

The state of New York experienced the most significant impact, losing 11 branches during this period. Texas and Pennsylvania each faced 10 closures, while California and Florida saw eight branches closed in each state.

Under federal regulations, banks are required to notify the Office of the Comptroller of the Currency (OCC) before closing branches, and these applications are typically published in weekly reports. However, the list serves merely as an indication of intent rather than a final confirmation of closures.

Last year, banks across the nation closed a total of 1,043 branches, and in just the first quarter of 2025, there were already 272 closures, suggesting a growing trend. In April alone, 42 branches were closed, followed by an additional 36 by mid-May.

Further research indicates that, at this rate, the last physical bank branch in the US could disappear by 2041. A study conducted since 2018 reveals an average net closure of around 1,646 branches annually.

“Retail bank closures have not slowed down,” remarked Darren Kingman from Root Digital. Reflecting on past banking habits, he mentioned that many customers once relied heavily on their local bank branches.

Despite the shift toward digital banking, concerns remain. Over 200 million Americans still maintain cash deposits, and a new survey found that 45% of individuals prefer conducting their banking in person. Andrew Murray, a lead data researcher at Gobankingrates, highlighted that while online banking is becoming more prevalent, many Americans are anxious about the increase in branch closures. In fact, 76% believe that the current banking system requires significant changes.

It appears that while the trend leans increasingly toward digital solutions, many people still feel a strong connection to traditional banking methods. The conversation on this topic is likely to evolve as more branches continue to close.