PROVIDENCE – Local branches of TD Bank appear to be safe from recently disclosed plans to shutter 81 retail branches across the Eastern seaboard, according to filings with the U.S. Office of the Comptroller of the Currency.
Eighty-one branches in 15 states are slated for closure, according to notices posted in OCC’s two bulletins for the weeks of Jan. 16 and Jan. 23. This includes 23 New England branches, though none of those listed are in Rhode Island or southeastern Massachusetts. A bank spokeswoman confirmed that local branches will not be part of the planned closures.
As a whole, the closures will reduce the bank’s footprint by 7%, various news outlets have reported.
In an emailed statement, a bank spokeswoman said the bank remains committed to “reinvesting” in its regional footprint through store renovations, new locations and ATM network expansions as well as investments in digital and mobile banking options.
“We strive to deliver an optimal mix of convenient TD Bank locations and digital banking products and services that are second to none,” the statement said. “With those goals in mind, we regularly evaluate our existing TD Bank stores and new locations.”
Ernie Diaz, executive vice president and head of consumer distribution at TD, was quoted in an article in the Business Journals saying the decision was made prior to the pandemic. TD Bank has eight Rhode Island branches and one in Attleboro, according to its website.
A number of other regional banks, including Citizens Bank, Webster Bank and Berkshire Bank, have announced plans to shutter brick and mortar branches, including some in Rhode Island and Bristol County, Massachusetts.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
