PNC Bank announces more branch closures, including New Jersey
PNC Bank, one of the largest banks in the Northeast, has filed to close 19 branches in February 2024, including two in New Jersey.
The Pittsburgh-based bank pruned quite a few locations in 2023 including many in New Jersey that were located in grocery stores, and, apparently, the trend is going to continue in 2024.
According to the Philadelphia Business Journal, PA is the hardest hit state, with five branches closing. Other branches slated for closure are in Illinois, Texas, Alabama, Ohio, Florida and Indiana. All will close on Feb. 16, a PNC spokesperson confirmed.
The two slated for closing in New Jersey are branches in Haddon Heights and Orange.
PNC explained its rationale to the Philadelphia Business Journal:
PNC recognizes that branches play a key role in how we provide solutions to our clients alongside our other channels,” the bank said via email. “That’s why we continually study customer and prospect transaction patterns to determine how we can most effectively meet the needs of our communities.
As a result, we have made significant investments in our PNC branch footprint over the past five years and continue building new branches and renovating existing locations in markets like Pittsburgh, the greater Washington, D.C., area and many others. At the same time, we also make decisions to close branches as customer needs evolve.
Citizens Bank announced last month that they would be closing branches in Cape May, Three Bridges, and Verona.
Wells Fargo has closed 4 branches in New Jersey earlier this year, with more to come this year, including one on State Street in Trenton.
Notices of bank closings are released by the Office of the Comptroller of the Currency, a federal agency.
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