Bank of America to Close a Branch in California

Bank of America with 3,900 locations set to close branch in months as it makes plans for customers to access money

Suzanne Blake
Published: 11:10 ET, Aug 14 2023
Updated: 15:27 ET, Aug 15 2023

A BANK of America is closing its doors for good in Bakersfield, California, in just few months.

The closure was announced officially last Friday, leaving many customers without access to a physical storefront for cash deposits and withdrawals.

The downtown building will be officially shuttered in February, and all Bank of America customers were warned of the upcoming closure by email.

While the bank has not disclosed why the specific branch will be shutting down, it said customers should expect to say their final goodbyes by February 27, 2024.

To date, Bank of America has nine other financial centers or ATMs available in Bakersfield, meaning most customers won’t have to go far for services once the Truxton Avenue bank is shuttered.

The following branches will remain open for banking services: 9000 Ming Ave. STE R3, 5021 California Ave., 240 Chester Ave., 2317 N Chester Ave., 1201 Baker St., 3800 Ming Ave., 2708 Ming Ave., 4480 Coffee Road, and 2800 Oswell St.

Nationally, Bank of America serves roughly 68million customers and operates 3,900 financial centers across the country.

That includes around 15,000 ATMs, and 57million of its client base are considered verified digital users.

Also this month, Bank of America closed its locations in Houston and Flower Mound, Texas.

While the company also never disclosed the reasons for those closures, some retail experts believe the rise of online banking has reduced the need for physical banks.

The pandemic saw more customers take care of all their financial needs from the comfort of their own homes, through banking websites and apps, and in-person visits have greatly diminished.

Two more branches will be closing in Massachusetts as well: the locations at West Brockton and East Brockton.

And just two months ago, Bank of America closed another store in Brooklyn, New York.

The U.S. Sun reached out to Bank of America for comment.

MASSIVE CLOSURES NATIONWIDE

Bank of America isn’t the only company shutting down locations across the country.

As hundreds of retailers close up shop amid high inflation and increasing rates of online shopping, brick and mortar stores have largely fallen under, prompting what some experts are calling a retail apocalypse.

Outside of banking, pharmacy giants like CVS and Walgreens have announced hundreds of closures.

CVS said it plans to shutter at least 300 stores per year through 2026.

And even the once thriving home goods giant Bed Bath & Beyond has been severely impacted by current retail trends.

The chain filed for bankruptcy this year and has now seen all its physical storefronts disappear.

All 360 locations, as well as 120 buybuy Baby stores, were slated to shut down this summer.

Now the brand will exist solely online, after a $21.5million purchase made by Overstock.

Tuesday Morning also went bankrupt this year and is planning for a long list of closures.

In San Francisco, retail crime has also fostered a surge of closures around the downtown area.

Nordstrom announced the upcoming closure of a store this month, joining Whole Foods Market, H&M, Disney, and Gap in leaving the high-crime area.

A popular restaurant chain and Panera rival is also abandoning customers in New York as it closes its final store in Buffalo.

Party City likewise closed its physical storefronts as the event planning supplies store was hit hard in the years following the onset of the coronavirus pandemic.

Source: The Sun

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