It looks like there’s going to be a major shakeup in the banking industry. One of the more prominent banks in America announced that they are closing more than 100 locations across the United States. And we do know that at least two of them are located in Washington state.
This new information comes from the Office of the Comptroller of Currency and is based on a report by AS.com. And one would hope that they know what they are talking about.
Bank Of America’s Earning Exceed Analysts’ Expectations
The bank we’re talking about is Bank of America, an institution that is known and respected in the United States. Another report from.AS.com indicates that the cause of bank branch closures. As there is now less need for in-person banking.
55 total Bank of America branches will be closing across the country before the end of 2024. Some will be closing as early as March 5th.
There will also be Bank of America branch Closings in California, Georgia and Massachusetts, as well as Washington state.
Bank Of American Posts Strong Quarterly Earnings
No one at Bank of America is saying whether this is the full list of closures. I guess we’ll just have to wait and find out.
17 banks in California will be closing. Closer to home we will lose 2 banks in Washington.
- 20708 Bothell-Everett Highway, Bothell, WA on 06/11/2024
- 11060 NE 6th Street, Suite 80, Bellevue, WA on 08/13/2024
Bank Of America 4th Quarter Earnings Miss Wall Street Estimates
Nobody likes seeing bank branches close. For one thing, it makes investors nervous. Here’s hoping that this kind of activity does not expand.
I’m glad to keep my banking local.
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Gallery Credit: Curt St. John