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Major banks have closed 46 branches in just TWO weeks. Does that also have consequences for you?
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Major banks have closed 46 branches in just TWO weeks. Does that also have consequences for you?

In the first two weeks of October alone, US banks closed 46 local branches.

Citizens Bank closed most locations, closing fifteen in just fourteen days.

Huntingdon closed 11 from October 1 to October 14, and US Bank closed nine. Scroll down for the full list of addresses.

The rest of the closures consisted of Bank of America and Wells Fargo, both of which closed four, and First National Bank of Texas and Chase, each of which closed one.

Eight of the closures occurred in Illinois, the hardest-hit state during the period.

Major banks have closed 46 branches in just TWO weeks. Does that also have consequences for you?

Citizens bank closed fifteen locations in the two-week period from October 1 to 14

Pennsylvania also saw its fair share of closures, with seven registered to close.

It comes after DailyMail.com revealed banks had closed more than 700 branches in the first nine months of the year.

If the current number of closures continues for the rest of the year, just over 1,000 branches will be closed across the country this year alone.

New research recently found that the last physical bank branch in the US could close by 2041.

Experts at Self Financial arrived at this number by studying the number of net closures across the country, which has averaged 1,646 per year as of 2018.

Even though the majority of Americans now choose to do most of their banking online, customers still prefer to use physical branches for certain services.

It’s also a struggle for some older customers to operate services like mobile banking.

Nearly two-thirds of Americans still use a physical branch to deposit cash, while more than half use it to talk to a personal advisor, the report found.

39 percent of respondents told Self Financial that they trusted banks with physical branches more than banks without.

“Customer banking preferences and behavior are changing, including a rapid migration to digital and mobile banking platforms, and a desire for greater simplicity,” a US Bank spokesperson told DailyMail.com.

US banks closed a total of 754 locations in the first nine months of the year

US banks closed a total of 754 locations in the first nine months of the year

US Bank closed nine locations in the first two weeks of the month

US Bank closed nine locations in the first two weeks of the month

“As we evolve with our customers, we are reevaluating our physical footprint and in some cases consolidating branch locations in select markets.

“While we are closing some locations, we continue to open and improve others and are rapidly expanding our digital capabilities.”

Closures could result in significant savings for banks, as the average freestanding branch costs about $2.6 million per year.

Banks must report all planned closings and openings to the Office of the Comptroller of the Coin (OCC), a federal banking regulator.

She publishes a summary of this every week. DailyMail.com has analyzed these to compile the details of the total closures so far this year.

Bank closures October 1 – October 14
Bank City Stands Location
Bank of America CHICAGO IL 49 EAST CHICAGO AVENUE
Bank of America LONG BEACH CA 6351 OOST-LENTSTRAAT
Bank of America BOSTON MA 133 MASSACHUSETTS AVENUE
Bank of America BEVERLY HILLS CA 8760 WILSHIRE BOULEVARD
Citizen Bank PARMA OH 7450 BROAD ROAD
Citizen Bank Philadelphia PA 2497 Aramingolaan
Citizen Bank Pittsburgh PA 4570 Fifth Avenue
Citizen Bank NASHUA NH 122 NORTHEAST BLVD
Citizen Bank Dillsburg PA 4 South Baltimore Street
Citizen Bank Hyde Park MA 1025 Truman Parkway
Citizen Bank TAYLOR MI 7000 MONROE BLVD
Citizen Bank BELMONT MA TRAPELO ROAD 535
Citizen Bank BURLINTON MA 248 MIDDLESEX TURNPIKE
Citizen Bank BELLINGHAM MA 70 PULASKI BLVD
Citizen Bank Pittsburgh PA 712Washington Road
Citizen Bank New Kensington PA Tarentumbrugweg 200
Citizen Bank WESTLAND MI 200 MERRIMAN
Citizen Bank Philadelphia PA Ridgelaan 8345
Citizen Bank RUMFORD RI NIEUWPOORTlaan 275
First NB Texas SCHOTSDALE AZ 15355 NORTH NORTHSIGHT BOULEVARD
Huntington CHICAGO IL 7530 S. STONEY ISLAND
Huntington Elyria OH Oost-Bredestraat 860
Huntington Port Huron MI 1527 Hancock
Huntington INDIANAPOLIS IN 9075 N. MERIDIAN ST.
Huntington Canfield OH 3801 Boardman Canfield Road
Huntington Dorr MI 1604 142nd St.
Huntington CHICAGO IL 29 EAST MADISON, SUITE 150
Huntington ST. BATHING PA 1685 W. STATE
Huntington ARLINGTON HEIGHTS IL 440 E. EDGE ROAD
Huntington OAK LAWN IL 8801 S. RIDGELAND AVENUE
Huntington LOMBARD IL 1177 S. HOOF STREET
JPMorgan Chase PEORIA IL 125 NE JEFFERSON AVENUE
American bank MESA AZ 3622 EAST SOUTH AVENUE
American bank GILBERT AZ 5137 EAST BASELINE ROAD
American bank CHICAGO IL 209 SOUTH LASALLE STREET
American bank Quincy CA 20 E. Main Street
American bank Richmond K.Y 521 Lancaster Ave
American bank MINNEAPOLIS MN 219-19E ZUIDlaan, SUITE 140
American bank SPOKANE WA EAST 3001 29TH AVENUE
American bank FARMINGTON UT 1316 NORTH HIGHWAY 89
American bank PLACERVILLE CA 3955 MISSOURI FLAT ROAD
Wells Fargo CHANTILLY VA 14430 CHANTILLY KRIST LANE
Wells Fargo South Gate CA 4703 Firestone Blvd.
Wells Fargo MEMPHIS TN 6445 POPLAR AVE
Wells Fargo NEW YORK N.Y 535 SEVENTH AVENUE