PROVIDENCE – Santander Bank N.A. is planning a series of branch upgrades, new flagship locations and network consolidations across the Northeast as part of a broader modernization effort announced April 27.
The initiative includes the opening of flagship branches in major markets such as New York City, with locations planned near Grand Central Terminal and Union Square, and additional sites under consideration in Boston and Philadelphia.
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The bank said the new branches will emphasize advisory services, technology and support for small-business and wealth clients.
Santander also plans to renovate more than 60 branches in 2026, with additional upgrades scheduled through 2028 as part of a multiyear capital investment program aimed at modernizing customer and employee spaces.
At the same time, the bank said it intends to consolidate eight branches this year as it shifts investment toward larger flagship locations and upgraded facilities.
“Our focus is simple: make it easier for customers to do business with us by strengthening our branches and investing in the people who serve them every day,” Jason Mock, head of retail banking, said in a statement.
The announcement follows broader changes for Santander’s U.S. operations. Banco Santander S.A., the Madrid-based parent of Santander Bank, said earlier this year it plans to acquire Webster Financial Corp., the parent company of Webster Bank, in a cash-and-stock deal valued at about $12.3 billion. The transaction, pending shareholder and regulatory approvals in the U.S. and the European Union, is expected to close in the second half of 2026.
The combined company would rank among the 10 largest U.S. banks by assets and a top five Northeast bank by deposits.
Webster Bank currently operates six full-service branches in Rhode Island, along with a private banking office in Providence.
Santander has also been adjusting its local footprint. The bank announced plans in April 2025 to close its Atwells Avenue branch in Providence as part of a broader regional downsizing strategy.
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
