More Than a Dozen Bank of America Locations Close Nationwide

Bank of America, the second-largest bank in the United States, is closing nearly two dozen branches nationwide to adapt to the digital banking landscape. As customers increasingly favor online and mobile banking, the need for physical branches has diminished. Since 2009, the number of bank branches in the U.S. has fallen from nearly 100,000 to fewer than 80,000.

In this gallery, we explore Bank of America’s decision to close branches, as well as the bank’s history.

The Office of the Comptroller of the Currency (OCC) oversees branch closures, requiring banks to provide a 90-day advance notice before closing any location. Nearly two dozen Bank of America locations are closing permanently this month across various states, including Arizona, California, Florida, and New York.

Bank of America was founded in 1904 as the Bank of Italy in San Francisco to serve immigrants who were denied access to banking services. It later changed its name in 1930.

In 1932, Bank of America became the first bank to offer a credit card, known as the “BankAmericard,” which eventually evolved into the Visa card we know today.

The bank expanded significantly during the 1980s and 1990s, acquiring several financial institutions, including Security Pacific National Bank and NationsBank, which allowed it to grow nationally.

In 1998, Bank of America merged with NationsBank, creating one of the largest financial institutions in the United States, with a strong presence in retail and commercial banking.

The bank played a significant role in the 2008 financial crisis, receiving $45 billion in bailout funds from the U.S. government to stabilize its operations during the economic downturn.

Bank of America has strongly shifted its focus toward digital banking in recent years, investing heavily in technology to enhance customer experience and streamline online operations.

Today, Bank of America is the second-largest bank in the United States by assets, serving millions of customers through its extensive branch and ATM network. The largest bank in the United States by assets is JPMorgan Chase & Co.