Major Bank With Branches In New York Announce Shocking Closures

A major bank with branches in New York confirmed upcoming closures.

Shortly after acquiring branches from banks closed by the feds, officials confirmed closures.

Feds Shut Down $10 Billion Bank With Locations In New York State

First Bank, which did business as Republic Bank was shut down last April by the Federal Deposit Insurance Corporation (FDIC)

Republic Bank operated 32 branches across New York, New Jersey and Pennsylvania.

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Fulton Bank entered into an agreement "to assume substantially all of the deposits and purchase substantially all of the assets of Republic Bank."

All 32 branches reopened as Fulton Bank.

Fulton Bank Closing 15 Branches

Fulton Bank just confirmed plans to close 15 branches across the tri-state.

Most branches will close on April 18.

"While it’s never easy to close financial centers, we are making these changes to align our services with trends in how customers conduct their banking, including growth in customers choosing to do their everyday banking using our convenient online and digital solutions," a spokesperson stated.

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Fulton Bank closed two former Republic Bank locations in New York on September 16, 2024:

• 90 Fifth Avenue, New York, NY
• 830 Third Avenue, New York, NY

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Around 70 New York Banks Closed In 2024

Last year, around 70 banks closed across New York State.

Below are major US banks and the number of branches closed in 2024.

Bank Of America: 132
U.S. Bank: 101
Wells Fargo: 92
Chase: 90
TD Bank: 52

PNC, Citizens Bank, Woodforest, Fulton and Capitol One all also closed branches last year.