A WELL-KNOWN bank has disclosed that it will shut down one of its branches for good after more than three decades of operating.
In recent years, banks have noticed a shift in consumer habits, which have predominately moved to digital services.
That has resulted in fewer customers coming into physical branches.
Wells Fargo is calling it a "difficult decision" to close its branch at 1840 Airport Road in Allentown, Pennsylvania.
"This is not an easy decision or one we take lightly," a company spokesperson told The U.S. Sun in a statement.
"Branches continue to play an important role in the way we serve our customers, and we continuously evaluate our branch network in light of changing customer needs, the increase in the use of digital banking, and market factors."
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But customers still have time to use the branch, as the shutdown date is set for November 1.
The hours are listed as Monday through Friday from 9am to 5pm. On Saturday, the bank is open from 9am to 12pm.
After the shutdown date, customers who want to bank in person can still do so at its nearest Boulevard branch at 1602 Union Boulevard, which is less than a mile away from the Airport Road location, according to the company.
Wells Fargo is encouraging customers to use its online and mobile banking services.
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There, customers can find nearby ATMs and Wells Fargo locations.
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The bank shutters don't end there for Wells Fargo.
This year alone, it is closing 37 branches.
In addition, this month, three Virginia locations are shutting down for good.
The U.S. Sun has done a round-up of the branches that have or will close this year and the cities affected. Here they are below:
- Sun City, Arizona
- Glendora, California
- Hollywood, Florida
- Bound Brook, New Jersey
- Columbia, Maryland
- Banning, California
- Grand Junction, Colorado
- Sugar Land, Texas
- Minneapolis, Minnesota
- Sparks, Nevada
- Lambertville, New Jersey
- Thousand Oaks, California
- Lilburn, Georgia
- Jonesboro, Georgia
- Washington, DC
- San Ramon, California
- Coeur d’Alene, Idaho
- Allentown, Pennsylvania
- Clearwater, Florida
- Kirkland, Washington
- Charlottesville, Virginia
- Idaho Falls, Idaho
- Edwards, Colorado
- Portland, Oregon
- Sarasota, Florida
- Richmond, Virginia
- Lauderhill, Florida
- Decatur, Georgia
- Sheboygan, Wisconsin
- Norfolk, Virginia
- Hemet, California
- Alpharetta, Georgia
- Tomball, Texas
- Santa Barbara, California
- Reading, Pennsylvania
- Radnor, Pennsylvania
- Annapolis, Maryland
Wells Fargo currently has more than 4,000 branches nationwide.
OTHER BANK CLOSURES
It's also been a tough time for other banks.
Regions Bank will close three branches in Chicago, Illinois; Kansas City, Missouri; and Cincinnati, Ohio, according to a report from National Mortgage News.
Those locations only offer mortgage services and are outside of the bank's "traditional branch network footprint."
The locations are set to close during the middle of October.
Associated Bank will also be saying goodbye to six locations in Wisconsin and Illinois.
The addresses and cities impacted are as follows:
- 2815 South Chicago Avenue in South Milwaukee, Wisconsin
- 300 North LaSalle Drive in Chicago, Illinois
- 5987 County Highway West in Manitowish Waters, Wisconsin
- 3847 South Howell Avenue in Milwaukee, Wisconsin
- 2001 South Webster Avenue in Allouez, Wisconsin
- 717 Main Street in Menomonie, Wisconsin
After those branches shutter, there will be 196 locations left.
PNC Bank is planning on closing 127 branches after evaluating its business.
On August 19, 29 locations closed in several states including Maryland, Virginia, Florida, Alabama, and Indiana.
In addition to banks, retailers with physical stores have also seen less demand with the emergence of online sales.
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One example of this is the once-mighty Kmart, which will close its last New Jersey location in the fall.
And CVS plans to shutter at least 300 stores per year through 2026.
