Santander and TD Bank closing branches in NJ this summer

💲 Another popular bank has announced branch closures this summer

💲 Some of those closures are in NJ

💲 The closures come as banks refine its footprint and retail presence

Another bank with a large presence in New Jersey is closing branches this summer.

Santander announced it will close 18 branches across the U.S., including four in New Jersey, by August, according to the Office of the Comptroller of the Currency, and reported by Banking Dive.

The affected branches are set to close between July 31 and August 21. Six locations in Massachusetts will close, as well as four in Pennsylvania, two in New York, one each in New Hampshire and Rhode Island, and four in New Jersey.

The Santander Bank in Pennington is one of four closing in New Jersey this summer (Google Street View)

The Santander New Jersey branches set to close in the Garden State:

214 Washington St., Hoboken
873 Broad St., Newark
40 St. Main St., Wharton
2583 Pennington Rd, Pennington

“Santander Bank continues to refine its branch footprint and retail presence, including introducing new formats and investing in digital capabilities to better accommodate our customers and meet their evolving needs,” a spokesperson told Banking Dive.

The goal is to become a national, digital bank with branches, and reach this deposit milestone at a record pace, he said.

TD Bank announced in March it was closing nearly 40 branches, including five in New Jersey, by June 5. It’s part of its broader restructuring plan. The company cited shifting consumer habits and a focus on digital banking as reasons for the closures.

TD Bank in Marlton is one of five branches in NJ closing by June 5 (Google Street View)