Popular bank to close 38 branches across 10 states – full list
TD Bank will shutter 38 bank branches across the US. This comes after the bank agreed to pay $3.8 billion in a money laundering scandal.
A popular bank is closing dozens of locations across multiple states across the Eastern US.
TD Bank, based in New Jersey, will shutter 38 branches in 10 states, which will take effect June 5. The states affected include Connecticut, Florida, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, South Carolina, Virginia and Washington, D.C.
Banks have been shrinking their physical footprint as many are investing in more online banking technology. The prominence of digital banking took off in the pandemic, and it has continued to perservere. S&P Global Market Intelligence data shows US banks shuttered 439 branches in the third quarter of 2024 alone, which was higher than the year before at 199.
This comes after TD Bank pleaded guilty and agreed to pay $1.8 billion in penalties to resolve the Justice Department’s investigation into violations of the Bank Secrecy Act (BSA) and money laundering.
Along with agreements to pay penalties to the Federal Reserve, Office of the Comptroller of the Currency (OCC), and the Treasury Department’s Financial Crimes Enforcement Network, the bank will pay nearly $3.1 billion in total.
A bank representative told Fast Company: “As part of our ongoing strategic and business-as-usual reviews of TD's retail locations, we evaluate things like store traffic, customer needs, product use, and community landscape to determine any needed changes to our physical network.
“We are committed to making this transition as smooth as possible for our impacted customers and colleagues and look forward to continuing to provide legendary service via one of our approximately 1,100 stores or any channel our customers choose.”
The list of closures include:
Connecticut
North Branford – 1289 Foxon Road, North Branford
Torrington Commons – 215 High St, Torrington
District of Columbia
Georgetown – 1611 Wisconsin Avenue NW, Washington, D.C.
Florida
Beville Nova – 1590 South Nova Road, Daytona Beach
Main Blvd – 160 NW Main Blvd, Lake City
South Beach 5th Street – 500 Collins Avenue, Miami Beach
Maine
Fairfield – 112 Main St, Fairfield
Fort Kent – 62 West Main, Fort Kent
Gorham – 95 Main Street, Gorham
Houlton – 6 North St, Houlton
Massachusetts
Bradford – 860 South Main St, Bradford
East Longmeadow – 465 North Main St, East Longmeadow
Framingham – 420 Franklin St, Framingham
Holyoke – 50 Holyoke St, Holyoke
Methuen – 547 Broadway, Methuen
Tewksbury – 2345 Main Street, Tewksbury
New Hampshire
Bristol – 10 North Main St, Bristol
Contoocook – 884 Main St, Contoocook
Hampton – 40 High St, Hampton
Wilton – 905 Elm St, Wilton
New Jersey
Cedar Grove – 85-107 Pompton Avenue, Cedar Grove
Marlton – 191 E Route 70, Marlton
Ringwood – 145 Skyline Drive, Ringwood
Raritan Township – One Royal Rd, Raritan Township
Spring Lake Heights – 555 Warren Avenue, Spring Lake Heights
New York
42nd and Madison – 125 Park Avenue, New York
45th and Lexington – 451 Lexington Avenue, New York
Dolson Avenue – 156A-B Dolson Avenue, Middletown
Downtown – 136 Margaret Street, Plattsburgh
Greenlawn – 460 Pulaski Road, Greenlawn
Pennsylvania
Chestnut Hill – 8600 Germantown Pike, Philadelphia
Frazer – 101 Lancaster Avenue, Frazer
Morrisville – West Trenton Ave & Carlisle Ave, Morrisville
South Carolina
Columbia Main – 1501 Main Street, Columbia
Thornblade – 6 Elmshorn Drive, Greer
Virginia
Centreville – Centreville Drive and Machen Road, Centreville
Reston – 1750 North Hampton Avenue, Reston
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