In today's digital world, it may not come as a surprise to hear of new bank closings. Citizens Bank is one of the financial institutions proposing to close branches across the country.
The company is following other banks, such as Bank of America, Capital One, PNC Bank, TD Bank, and U.S. Bank, which have decided to close branches and downsize their locations in the United States.
Your local branch could be one of the Citizens Bank locations that could close. Check this list to see if you need to do business or open a new account with another bank.
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Delaware
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- Wilmington: 2084 Naamans Road
Delaware is home to 16 Citizens Bank branches. In Wilmington specifically, there are five other locations where customers can build wealth.
New York
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- Brooklyn: 399 Atlantic Ave.
- New York: 1340 Third Ave.
- Rochester: 2255 E. Ridge Road
New York is one of the states where Citizens Bank has the largest presence. In total, there are currently 170 branches for customers to use for banking.
Pennsylvania
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- 4265 Buffalo Road, Erie
North Wales: 1201 Knapp Road
Pennsylvania has the most Citizens Bank locations, which may explain why it has been targeted with closures.
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Other banks closing branches
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Citizens Bank is not alone. According to Newsbreak, more than 320 bank branches were marked for closure in the first 13 weeks of this year. This includes financial institutions like TD Bank, Wells Fargo, and Bank of America.
Some states are being hit harder than others.
PNC Bank, for example, has also closed branches in Pennsylvania. The banking company closed more than 20 branches in 2024, four of which were in the Keystone State.
Why are banks closing branches?
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So why the trend in bank closures? One of the biggest reasons is online banking.
Customers are moving more of their banking needs online, such as depositing checks, reviewing account balances, and more. That means some banks don't need as many brick-and-mortar locations anymore.
Bottom line
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It can be difficult if your local bank branch closes, but there are still options to build wealth, such as with high-yield savings accounts.
You can also check online to see if you can find the best cash back credit cards through your bank, so you can find other ways to earn extra perks or points.
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