This article is based on corporate postings and accredited media reports. Linked information within this article is attributed to the following outlets: Office of the Comptroller of the Currency (OCC), BankBranchLocator.com, and FDIC.gov.
According to OCC.gov, the federal Office of the Comptroller of the Currency, multiple California Bank of America branches have been announced as permanently closing in the month of October.
The ongoing popularity of online banking has been reported as the primary cause of the current spate of state closures.
Firstly, for a national perspective per BankBranchLocator.com: Bank of America was founded in October 1904 and is based in Charlotte, North Carolina... According to the Federal Deposit Insurance Corporation records and based on the institution's charter type, Bank of America is classified as a commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)... Bank of America currently operates with 3822 branches located in 38 states.
Let us explore.
Bank of America, 2023
The following six California-based Bank of America branches, per the OCC, are scheduled for permanent closure this month:
- 2925 Scott Blvd, Santa Clara
- 200 Cochrane Plaza, Morgan Hill
- 1275 Fell St, San Francisco
- 3491 McKee Rd, San Jose
- 1400 Moraga Way, Moraga
- 2049 Century Park East, Los Angeles
The ongoing closures of Bank Of America branches, as well as those of other major (and regional) banks, is a developing story. In the event of pertinent updates to these matters, inclusive of other Bank of America closings and official announcements of target dates, I will share them here on NewsBreak.
Thank you for reading.