These 3 Citibank Branches Are Set to Close This Year

NEWS & TRENDING - BANKING NEWS
Citibank customers in two states should be aware of these soon-to-close branches.
Updated May 14, 2024
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citibank bank exterior

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Even in these days of online banking, plenty of customers still rely on physical bank branches to deposit checks, make withdrawals, open accounts, and secure loans.

As a bank with more than 200 years of history, Citibank has hundreds of locations across the U.S. However, a few of those branches are slated to close later this year.

Will you need to prepare yourself financially for the closing of your favorite branch? Find out which Citibank branches are about to shutter and where you can go if you end up losing your closest bank branch.

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San Francisco

DW labs Incorporated/Adobe citibank sign
  • 350 Rhode Island St.

Citibank was originally founded in New York in the early 1800s as the City Bank of New York, but California is the state with the most branches today.

However, California is set to lose one of its many Citibank branches in 2024: San Francisco’s Rhode Island Street Citibank branch is scheduled to close by the end of this year.

New Hyde Park, New York

Sundry Photography/Adobe citibank local branch
  • 272-06 Union Turnpike, New Hyde Park

New York also will see its roster of Citibank branches dwindle. The number of branches will shrink by two this year as Citibank closes locations in the New York City area.

One of the closing branches is located in the Long Island village of New Hyde Park.

Middle Village, New York

Bruno Coelho/Adobe picture of a citibank branch
  • 78-09 Metropolitan Ave., Middle Village

Queens is also set to lose one of its Citibank branches, this one located at 78-09 Metropolitan Avenue in Middle Village.

The residential area of Middle Village is younger than Citibank itself: The neighborhood didn’t have a post office until the mid-19th century.

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Why is Citibank shuttering locations?

jordi2r/Adobe bank branch of citibank in new york

Along with several other prominent national banks, Citibank has been laying off employees on a big scale for a little more than a year now. Bank of America, Wells Fargo, and Citigroup laid off a combined 17,000 bank workers in 2023, and the layoffs have continued into 2024.

In recent years, consumers have continued to shift to online banking, where they can still access most banking services even after a branch closes. So, banks have been saving money by getting rid of certain physical locations.

In the first two months of the year, 220 branches of various banks shut down in the U.S. Many workers at Citi are also losing their jobs. During the first quarter, Citi shed 2,000 positions. The bank plans to lay off a total of 20,000 workers over the next two years.

Bottom line

jetcityimage/Adobe citibank retail bank branch

Relatively few Citibank customers will feel the impact of these three branch closures. But if you live close to one of these branches, you might be upset.

It can be an inconvenience to lose access to a physical bank you have relied on, and it might make you wonder where you stand financially. Fortunately, you should be able to access other nearby branches, and you can still bank online 24 hours a day.

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Author Details

Michelle Smith Michelle Smith has spent a decade writing for and about small businesses. She specializes in all things finance and has written for publications like G2 and SmallBizDaily. When she's not writing for work at her desk, you can usually find her writing for pleasure near large bodies of water.

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