Bank of America and Chase Are Closing Even More Branches Best Life
Online banking makes it easy to oversee your accounts from home, so it's usually not until you need to speak to a teller in person that you end up venturing to your closest branch. But if you don't keep up with local closures, you may not even know if your trusted location has shuttered ahead of your next impromptu visit. Unfortunately, branch closures are commonplace these days, and two of the biggest names—JPMorgan Chase and Bank of America—just announced another batch of locations set to close. Read on to find out where.
RELATED: Wells Fargo Shutters 10 More Branches Amid Mass Bank Closures.
According to the Nov. 4 Weekly Bulletin published by the U.S. Office of the Comptroller of the Currency (OCC), Bank of America is closing another 10 locations in the coming months. The company alerted the OCC to the closures between Oct. 31 and Nov. 2, meaning the soonest they could close is three months from those dates. (The agency requires a 90-day notice of bank branch closures.)
Per the bulletin, locations are closing in eight states, including individual locations in Norfolk, Virginia; Silver Spring, Maryland; Franklin, Tennessee; New York City; and Punta Gorda, Florida.
Three Bank of America branches are closing in California, in Hermosa Beach, Oakland, and Castaic. In Missouri, the filing also lists two closing branches in St. Louis. (However, it's worth noting that the two Missouri branches have the same address listed on the filing, 1155 Saint Louis Galleria, and this may refer to the two Bank of America ATMs currently on site.)
Best Life reached out to Bank of America for comment on the closures and will update the story with its response.
RELATED: Chase and U.S. Bank Customers Say Their Accounts Are Being Closed Without Warning.
Chase also listed closing locations in the Nov. 4 OCC bulletin. Upcoming closures include a location in Wilmington, California, which is being consolidated with other nearby branches, and two locations in Roseville, Michigan, which are being closed and reopened as one location between the two current sites.
On Oct. 26, the company shuttered a location in Rocky River, Ohio, which was relocated to a new site a few days later. On Oct. 25, Chase also closed a Valencia, California, location to consolidate it with another branch. Back in September, a temporary branch that was opened in Corona, New York, for the US Open tennis tournament also closed.
"Our strategy is unique relative to our peers. We are the only major bank with significant investments in new branches, adding more than 650 over the last five years, including delivering on our commitment to build 400 branches in 25 new states," Chase told Best Life in a statement. "We know that to serve the diverse needs of our customers we need to be present in the community so we're opening new branches where it makes sense, both in neighborhoods that are growing, and ones where there aren't enough branches."
The company continued, "Our goal is to have the right branches in the right communities and serve the financial needs of our diverse customers."
RELATED: Bank of America Planning to Close Another 20 Branches—Here's Where.
The latest round of closures is in addition to those previously confirmed. Throughout October, Bank of America shuttered several locations and listed more closing branches in California, New York, Connecticut, Pennsylvania, New Jersey, Florida, Texas, and Oregon.
In additional filings last month, the bank also confirmed closures in Georgia, Washington, and one closure in Massachusetts.
Chase already closed locations this fall, per OCC filings from October, and just shuttered a branch in Denver earlier this month, Best Life previously reported.
RELATED: Chase and Citi Customers Say Their Accounts Are Being Closed Without Warning.
The Nov. 4 OCC bulletin also lists new branch locations—and both Chase and Bank of America have recently added sites.
Bank of America just opened branches in Brooklyn, New York; Highland, Utah; and Omaha, Nebraska, the filing states.
For its part, Chase opened branches in Lake Zurich, Illinois; Lakewood, Ohio; Bristow, Virginia; Birmingham, Alabama; Niskayuna, New York; Bentonville, Arkansas; and Brooklyn Center, Minnesota.
Additionally, Chase alerted the OCC of branches that will be opened soon, including locations in Kansas City, Missouri; Voorhees, New Jersey; Germantown, Wisconsin; and Lititz, Pennsylvania.
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