Bank of America has branch closures scheduled in some cities in California during the next few months.
Last year, this financial institution closed hundreds of locations and although the pace of closures is lower in 2024, some states in the country continue to experience them, including California.
Before closing, banking institutions must notify the Office of the Comptroller of the Currency (OCC) at least 90 days before the potential closing date.
Said notification is made through an Advance Notice of Branch Closing. These notices are shared by the OCC in weekly bulletins, published on its official web portal. Based on these reports, We share with you the branches that will close soon in California.
Bank of America branches closing in California in the coming months
Taking into account that the closure announcement must be made at least 90 days in advance, we can estimate that April newsletters include information on which Bank of America branches could begin closing as early as July.
According to Advance Closing Notices shared in April, These are the locations of the Bank of America branches that will close soon in California:
- 5225 CANYON CREST DRIVE, RIVERSIDE, CA
- 8949 CLAIREMONT MESA BLVD., SAN DIEGO, CA
- 7404 JACKSON DRIVE, SAN DIEGO, CA
- 512 FLETCHER PARKWAY, EL CAJON, CA
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On the other hand, In May, the upcoming closure of the following branches in California was reported, which could begin to close as of August:
- 8655 BEVERLY BLVD., LOS ANGELES, CA
- 1515 BROADWAY, SACRAMENTO, CA
- 866 NORTH WILCOX AVENUE, MONTEBELLO, CA
Besides, In June, closure notices were shared for these branches, which could begin to close in September:
- 4054 MACARTHUR BLVD., OAKLAND, CA
- 9460 SCRANTON ROAD, SAN DIEGO, CA
- 44411 20TH STREET, EAST, LANCASTER, CA
Why has Bank of America closed so many banks?
Bank of America and other financial institutions have closed branches due to the rise of online banking. As the main reason for the measure, banks pointed to a change in the banking needs of their customers, since more transactions are currently carried out online than in physical branches.
For this and other reasons, some physical branches are not as profitable, so the decision is made to close them.
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