Citizens Bank Closure List Released – See Which Branches Will Close in 2025 and How It May Impact You

Bank branch closures continue to generate headlines in the media. Citizens Bank is closing 15 branches around the country, becoming the latest financial institution to close physical sites.

Citizens Bank rationalized its move with an emailed statement that read, “We’ve been on a journey at Citizens to evolve how our customer’s bank with us, and we continually review customer patterns to evolve and adjust branch strategy across our network.”

This is not a new reason for a downsizing plan; most banks have been looking for ways to improve their financial stability by closing superfluous or underperforming physical facilities.

According to the bank’s statement, “In light of these closures, we look forward to continuing to serve customers through neighboring branches, as well as our online and mobile banking platforms.” We remain dedicated to our branch network, with plans to build freestanding locations over the next few years, as well as continuing to invest in digital and mobile capabilities.”

This has been the most dramatic departure from the strategy of a few years ago, which emphasized simply closing down locations. The epidemic may have increased the pace of closures, but not every transaction can be completed online.

The growth of bank branches resulted in some regions having far too many, particularly in urban areas where the cost of running them made them unprofitable. This meant that, with the early rise of online banking and ATM transactions, many of these “extra” offices became obsolete. This reduced operating expenses, boosted efficiency, and left enough branches to meet any in-person needs that clients may have had.

However, the pandemic served as a tipping point for many institutions. Forced to improve its online systems in order to keep the economy running, banks were able to downsize dramatically without consequences. Leases expired, premises were deserted, and employees gradually relocated or migrated to work from home or unemployment. The additional cash flow loss caused by the virus also influenced this decision.

However, some places quickly became what is now known as a banking desert, with no branches within a reasonable driving distance, forcing clients to switch banks to have their needs addressed, as many operations must still be completed in person with a teller. This is why the new bank strategy incorporates branch consolidation rather than outright closure, as well as the establishment of new branches in areas where there are no existing branches within driving distance to serve bank desert communities.

List of Citizens Bank locations That Will Close Soon

Having said that, the bank is still closing several of its physical facilities, with 15 already planned for the new year. The locations cover six states and are located in: