TD Bank has announced plans to close 38 branches across 10 states and Washington, D.C., including four in the Philadelphia region.
The closures are scheduled to take effect by June 5, 2025, as part of the bank’s strategic evaluation to adapt to changing customer preferences and operational efficiencies.
Affected Branches in the Philadelphia Area
The Philadelphia region will see the closure of four TD Bank branches. While specific locations have not been disclosed, these closures are part of a broader downsizing effort that includes six locations in New Jersey.
TD Bank has stated that these decisions are based on factors such as customer usage, branch traffic, and regional needs.
Impact on Customers
Customers of the affected branches are encouraged to utilize TD Bank’s extensive network of over 1,000 remaining locations nationwide or to transition to digital banking services.
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The bank is committed to supporting impacted colleagues fairly and providing resources to assist with the transition.
Broader Industry Trends
TD Bank’s decision reflects a broader trend in the banking industry, where institutions are closing branches to streamline operations and adapt to the growing shift towards digital banking. In the third quarter of 2024 alone, U.S. banks closed 439 branches, a significant increase from the previous year.
As TD Bank continues to evolve its business model, customers in the Philadelphia region and beyond are advised to stay informed about the upcoming branch closures and to explore alternative banking options. For more information, customers can visit TD Bank’s official website or contact their local branch.
