TD Bank has announced the closure of 38 branches across 10 states and Washington

TD Bank has announced the closure of 38 branches across 10 states and Washington, D.C., by June 5, 2025, as part of a broader strategy to adapt to the growing digital banking trends. This move comes at a time when many banks are reducing their physical presence due to a shift in consumer habits towards mobile and online platforms for daily transactions. Since 2020, the pace of branch closures has doubled, with financial institutions such as JPMorgan Chase, Bank of America, and Wells Fargo also scaling back their branch networks.

The list of closing locations includes:

Connecticut (2): 1289 Foxon Rd., North Branford; 215 High St., Torrington
District of Columbia (1): 1611 Wisconsin Ave. N.W., Washington, D.C.
Florida (3): 1590 S. Nova Rd., Daytona Beach; 160 N.W. Main Blvd., Lake City; 500 Collins Ave., Miami Beach
Maine (4): 112 Main St., Fairfield; 62 W. Main St., Fort Kent; 95 Main St., Gorham; 6 North St. (PO Box 713), Houlton
Massachusetts (6): 860 S. Main St., Bradford; 465 N. Main St., East Longmeadow; 50 Holyoke St., Holyoke; 145 Skyline Dr., Ringwood; 555 Warren Ave., Spring Lake Heights; 2345 Main St., Tewksbury
New Hampshire (4): 10 N. Main St., Bristol; 884 Main St., Contoocook; 40 High St., Hampton; 905 Elm St., Wilton
New Jersey (6): 85 Pompton Ave., Cedar Grove; 1 Royal Rd., Flemington; 670 Laurel Ave., Holmdel; 191 E. Rte. 70, Marlton; 555 Warren Ave., Spring Lake Heights
New York (5): 460 Pulaski Rd., Greenlawn; 156 Dolson Ave. A-B, Middletown; 125 Park Ave., New York (Manhattan); 451 Lexington Ave., New York (Manhattan); 136 Margaret St., Plattsburgh
Pennsylvania (3): 101 Lancaster Ave., Frazer; 346 W. Trenton Ave., Morrisville; 8600 Germantown Pike, Philadelphia
South Carolina (2): 1501 Main St., Columbia; 6 Elmshorn Dr., Greer
Virginia (2): 6200 Multiplex Dr., Centreville; 1750 N. Hampton Ave., Reston

TD Bank has emphasized that these closures are a routine part of their store evaluations, which focus on aligning services with customer behavior. The spokesperson for the bank mentioned that these evaluations consider factors such as store traffic, customer needs, product use, and the local community landscape. Despite the closures, TD Bank remains committed to providing services through its approximately 1,100 remaining branches and digital channels.

The bank's recent legal troubles, including pleading guilty to federal money laundering violations and agreeing to pay over $3 billion in penalties in 2024, may have influenced these strategic decisions. However, the bank's new CEO, Ray Chun, has pledged to implement organizational changes and reforms to enhance compliance measures.

The shift towards digital banking has been accelerated by the COVID-19 pandemic, with many customers now preferring the convenience and safety of mobile and online banking options. As a result, the number of bank branches nationwide has decreased by 5.6 percent since 2020, with banks focusing more on their digital services to meet the evolving needs of their customers.

This article includes a list of the specific locations that will be closing, as well as statements from TD Bank regarding their commitment to customer service and compliance with regulations.