Several of America’s largest banks, including Wells Fargo and PNC, told their regulator they will close 31 branches in a single week in February.

The banks signaled the branch closures between February 11 and 17.

According to the Daily Mail, Wells Fargo and PNC accounted for over half of the closures.

Daily Mail reports:

Each of the two banks said they would shut eight branches, across Alabama, Florida, Indiana, Michigan, Pennsylvania, Texas, California, Connecticut, North Dakota and New Jersey.

Texas was worse hit, with closures set for Houston, Laredo and Cypress.

Other banks to have announced they would shutter locations between February 11 and 17 include Bank of America, Santander, Chase, Citizens, KeyBank and Legacy.

Despite scheduling a closure, Chase has bucked the trend by opening more branches than it closed in recent years.

Last month, Chase said it would pursue a different strategy from other major US banks by opening 500 locations in the next three years.

Of the 15 total openings banks reported to the Office of the Comptroller of the Currency (OCC) – which regulates banks – five were made by Chase.

The outlet stated that banks filed notices to close 1,566 branches last year while only opening 472.

Daily Mail noted in a prior report that U.S. banks filed to close 37 branches in a single week last month.

Bank of America, TD Bank and KeyBank accounted for the majority of those closures.

In total, banks said they would close 139 branches in January.

Daily Mail reported earlier this month:

A total of 139 scheduled bank branch closures were made public in January – more than the monthly average across 2023, according to their regulator.

In another week last month, American banks said they would shut 41.

The Office of the Comptroller of the Currency (OCC) must be notified each time a bank wants to shut or open a branch.

Canadian Toronto-Dominion (TD) – with around 1,100 branches across 16 states on the East Coast – filed to close nine locations. Last year it only notified its regulator of a single closure.

The branches scheduled to be shut are in Florida, Maryland, New Jersey, Pennsylvania, South Carolina, Virginia and Washington DC.

KeyBank, which has almost 1,000 branches in the Northwest and Northeast, said it would also close eight that week. Half of those were in Washington State between Seattle, Tacoma and Everett.

Other banks to have notified of closures that week include Fulton, Citizens, Farmer’s National Bank, Community Bank and Wells Fargo.

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