A MAJOR US bank has set its sights on shutting down 38 locations across the country, leaving customers with less than a month to get their bearings straight.
After evaluating its existing bank branches, TD Bank will cease operations at nearly 40 spots across 10 states and Washington DC.
2
The company revealed that the wave of closures is part of its normal business practices.
TD Bank regularly evaluates its existing locations, which “may result in some closures, consolidations, or relocations,” a bank representative told The U.S. Sun.
Strategic reviews are conducted to assess store traffic, customer needs, product use, and community landscape.
Customers of the banking giant, based in New Jersey, will see the shutdowns take place on June 5 across the following states:
- Connecticut
- Florida
- Maine
- Massachusetts
- New Hampshire
- New Jersey
- New York
- Pennsylvania
- South Carolina
- Virginia
“We are committed to making this transition as smooth as possible for our impacted customers and colleagues and look forward to serving them at one of our 1000+ TD Bank locations or through our digital banking products and services,” said the spokesperson.
As the stores shut down, affected customers should take note of the closures and make necessary arrangements to manage their accounts and banking needs.
Although TD Bank is closing down a handful of locations, it recently opened three new stores, per the banking representative.
Two are located in New York – one in Brighton Beach, Brooklyn, and the other in Jerome Avenue, the Bronx – and one in Boston at Nubian Square.
BANKING BUST
The impending TD Bank closures, although part of normal business operations, are a product of changes in the banking industry.
The company is working to streamline its operations as customer banking habits shift.
More and more Americans are turning to online banking, a trend that took off during the pandemic and has remained.
As a result, banks have been investing more money into their online banking technology and decreasing their physical footprint.
US banks closed down 439 branches just in the third quarter of 2024 alone, much higher than the year before at 199, per S&P Global Market Intelligence data.
Closing TD Bank Locations
Connecticut:
- North Branford Branch – 1289 Foxon Road, North Branford, New Haven County
- Torrington Commons – 215 High St, Torrington, Litchfield County
Florida:
- Beville Nova – 1590 South Nova Road, Daytona Beach, Volusia County
- Main Blvd – 160 NW Main Blvd, Lake City, Columbia County
- South Beach 5th Street Branch – 500 Collins Avenue, Miami Beach, Miami-Dade County
Maine:
- Fairfield – 112 Main St, Fairfield, Somerset County
- Fort Kent – 62 West Main, Fort Kent, Aroostook County
- Gorham Branch – 95 Main Street, Gorham, Cumberland County
- Houlton – 6 North St (PO Box 713), Houlton, Aroostook County
Massachusetts:
- Bradford – 860 South Main St, Bradford, Essex County
- East Longmeadow – 465 North Main St, East Longmeadow, Hampden County
- Framingham Franklin Street – 420 Franklin St, Framingham, Middlesex County
- Holyoke – 50 Holyoke St, Holyoke, Hampden County
- Methuen Broadway – 547 Broadway, Methuen, Essex County
- Tewksbury 2345 Main Street – 2345 Main Street, Tewksbury, Middlesex County
New Hampshire:
- Bristol NH – 10 North Main St, Bristol, Belknap County
- Contoocook/Main – 884 Main St, Contoocook, Hillsborough County
- Hampton – 40 High St, Hampton, Rockingham County
- Wilton Lyndeborough – 905 Elm St, Wilton, Hillsborough County
New Jersey:
- Cedar Grove – 85-107 Pompton Avenue, Cedar Grove, Essex County
- Marlton East Branch – 191 E Route 70, Marlton, Burlington County
- Ringwood – 145 Skyline Drive, Ringwood, Passaic County
- Royal Road – One Royal Rd, Raritan Township, Hunterdon County
- Spring Lake Heights – 555 Warren Avenue, Spring Lake Heights, Monmouth County
- Holmdel – 670 Laurel Ave., Holmdel
New York:
- 42nd and Madison Branch – 125 Park Avenue, New York, New York County
- 45th and Lexington Store – 451 Lexington Avenue, New York, New York County
- Dolson Avenue – 156A-B Dolson Avenue, Middletown, Orange County
- Downtown Branch – 136 Margaret Street, Plattsburgh, Clinton County
- Greenlawn – 460 Pulaski Road, Greenlawn, Suffolk County
Pennsylvania:
- Chestnut Hill Branch – 8600 Germantown Pike, Philadelphia, Philadelphia County
- Frazer Branch – 101 Lancaster Avenue, Frazer, Chester County
- Morrisville Branch – West Trenton Ave & Carlisle Ave, Morrisville, Bucks County
South Carolina:
- Columbia Main Branch – 1501 Main Street, Columbia, Richland County
- Thornblade Branch – 6 Elmshorn Drive, Greer, Greenville County
Virginia:
- Centreville Branch – Centreville Drive and Machen Road, Centreville, Fairfax County
- Reston – 1750 North Hampton Avenue, Reston, Fairfax County
Washington DC:
- Georgetown – 1611 Wisconsin Avenue NW, Washington, D.C.
Over 320 US locations have been slated for closure in the first 13 weeks of this year, with banking giants such as Flagstar, Wells Fargo, and Bank of America on the list.
In addition to industry trends, TD Bank has planned nearly 40 shutdowns in an effort to cut costs.
The company previously pleaded guilty to money laundering, currently wrapped up in an over $3 billion settlement with the US Department of Justice.
As TD Bank plans to shut down a handful of locations across the country, other banking giants are plotting changes.
For example, Capital One and Discover’s huge merger may mean account changes – but they promised it won’t be “immediate.”
Meanwhile, the Wells Fargo CEO revealed that a major change is coming to all 4,349 locations – and even their digital banking will get a refresh.
2
