Fulton Bank Announces 15 Branch Closures Following Republic Bank Takeover
A major banking institution with branches across New York, New Jersey, and Pennsylvania has announced plans to shut down 15 locations, marking another wave of financial center closures across the region.
From Republic Bank to Fulton Bank: The Transition and Closures
This decision comes less than a year after the Federal Deposit Insurance Corporation (FDIC) shut down Republic Bank, which operated 32 branches across three states.
Following Republic Bank’s collapse in April 2024, Fulton Bank stepped in, acquiring nearly all deposits and assets and reopening all locations under its own branding. However, Fulton Bank has now decided to close 15 of these branches, citing changes in consumer banking habits.
Why Are These Banks Closing?
Fulton Bank officials acknowledged that these closures were driven by a shift toward digital banking, stating:
“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.”
Most of these 15 locations will shut down by April 18, 2025.
New York Branches Already Closed
Fulton Bank already 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
Wave of Bank Closures Across New York
The closure of Fulton Bank locations is part of a larger trend affecting banks across the country. In 2024 alone, around 70 banks shut down across New York State, with major institutions reducing their physical footprint.
Here’s how many branches were closed by some of the biggest U.S. banks in 2024:
- Bank of America: 132 branches closed
- U.S. Bank: 101 branches closed
- Wells Fargo: 92 branches closed
- Chase: 90 branches closed
- TD Bank: 52 branches closed
Additionally, PNC, Citizens Bank, Woodforest, Fulton, and Capital One also shut down multiple locations last year.
What This Means for Customers
As more banks shift to online banking solutions, customers may need to rely on:
- Mobile banking apps for deposits, transfers, and bill payments
- ATMs and partner bank networks for cash withdrawals
- Customer service hotlines and online chat support
For those still preferring in-person banking, finding a nearby alternative branch or credit union may be necessary.
Looking Ahead: More Closures Expected?
Given the increasing reliance on digital banking and cost-cutting measures by financial institutions, more bank closures could be on the horizon. Experts predict that brick-and-mortar banking locations may continue to decline, forcing customers to adapt to an increasingly digital financial landscape.
For now, Fulton Bank customers affected by the closures should stay informed about their options and plan accordingly to ensure a smooth transition.
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