Massive bank closing dozens of branches (locations revealed)

The popular bank is shuttering shop as behaviors shift.

May 10, 2025 - 14:57

Massive bank closing dozens of branches (locations revealed)

No matter where you look, almost every consumer-facing industry seems to be shifting.

Take something as simple as shopping for groceries.

While it's true that some of us still go into our favorite old standby on a weekly basis for the essentials, that's becoming a rarer habit.

Many Americans instead prefer to shop online for their groceries.

Whether they're paying ahead of time and picking up their items via a curbside loading service or getting their groceries delivered, the way we shop has changed substantially.

The same is true for how we shop for clothing, furniture, electronics, and even cars.

It's no surprise, then, that over 17% of all sales in the U.S. are done via e-commerce -- a number slowly increasing each year.

That means that pretty soon, one in every five dollars spent in this country will be done so online.

Physical banks have become less relevant.
Image source: Shutterstock

Brick and mortar retail is still necessary

While the natural reaction to this shifting consumer habit might be to switch all business to online, few retailers have it that easy.

Many legacy businesses either still rely on brick and mortar operations for some portion of their sales or they must maintain a physical footprint because of customer expectations.

Banks are one such business.

More closings:

While a growing number of their customers expect their banks to be digitally native -- or, at the very least, digitally capable -- most banks must also maintain some semblance of an in-person operation.

This isn't just necessary for consumer trust; many people still go into the bank for a variety of reasons, be it cashing a check or obtaining a loan.

Popular bank shutting down branches

Just because a bank needs a physical footprint doesn't mean it needs a branch on every corner.

Large banks like TD Bank have learned this lesson; the Toronto-based bank announced it would close dozens of locations in the coming months.

And now, Santander (SAN) is following suit.

The Spanish bank, which runs a substantial business in the U.S., will close 95 locations in the U.K. and 18 in the U.S.

The stateside closures will happen around New England, in the following states:

Massachusetts
New Hampshire
Rhode Island
New Jersey
Pennsylvania
New York

Six of the closures will take place in Massachusetts alone, where Santander is the third-largest bank.

“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 Santander spokesperson said of the closures.