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An Unexpected Round of Bank Closures Now Hits Florida
MARCH 3, 2024 / FRANK NEZ
An unexpected round of bank closures now hits Florida as institutions file new warnings with the Office of the Comptroller of the Currency.
The state of Florida has now officially received more filings advising of twelve additional bank locations to close.
Some of the biggest banks to advise of branch closures in Florida include Wells Fargo and Bank of America.
Below is a list of the 12 bank branches closing in Florida this year:
- Wells Fargo. 14731 Biscayne Blvd, North Miami
- PNC Bank. 12000 West Forest Hill Blvd, Wellington
- Wells Fargo. 4285 U.S. 1 Hwy South St, Augustine
- Bank of America. 50 North Laura St, Jacksonville
- Bank of America. 21060 Saint Andrew Blvd, Boca Raton
- Bank of America. 19645 Biscayne Blvd, Aventura
- First American. 2301 Maitland Center Parkway, Maitland
- Fifth Third Bank. 10417 Gibsonton Dr, Riverview
- TD Bank. 2675 West State Rd 434, Longwood
- TD Bank. 3325 West Hillsboro Blvd Deerfield Beach
- Bank of America. 459 Brandon Town Center, Brandon
- Bank of America. 10300 Southside Blvd, Jacksonville
According to data from the Office of the Comptroller of the Currency (OCC), banks filed notices to close a total of 1,566 branches last year.
Despite all the closures, the OCC stated, “The OCC understands the importance of bank branches and is committed to supporting access to banking services in all communities.”
Despite the push to digital banking, many customers prefer to do their banking in a physical location, especially the older generation.
There is a fear that the continuation of closing bank branches may lead to what’s known as ‘banking deserts’ — where smaller cities might have to travel further for their banking needs — and adversely impact communities.
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Source: FrankNez
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