MJP –
A network of 235 bank branches has recently surprised customers by announcing sudden closures, justifying their decision as a ‘vital’ step.
In the upcoming months, Fulton Bank, a prominent regional financial institution, will be closing down more than twelve branches, forcing clients to travel further to reach their closest office.
Later this year, 13 branches will be shutting down as per the bank’s recent announcement following its merger with another financial institution in the spring.
Closure of bank branches is imminent in the southeastern region of Pennsylvania and South Jersey.
The choice was made following the purchase of the unsuccessful Republic First Bank in April.
Last week, the local ABC affiliate WPVI-TV reported that the bank revealed this information in a filing with the SEC.
The commencement of the closures is planned for the end of November.
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A representative from Fulton Bank stated that although it is always difficult to shut down a financial center, sometimes it becomes essential when considering factors such as overlapping service areas and changes in customer banking habits.
On the website of the New Jersey Department of Banking and Insurance, there are a minimum of 10 appeals from different banks to shut down branches in 2024.
Which specific bank locations will be shutting down?
Here is a compilation of the bank offices that are scheduled for closure.
- 1701 John F Kennedy Blvd, Philadelphia
- 1220 N. Broad Street, Philadelphia
- 8000 Frankford Avenue, Philadelphia
- 2100 Street Road, Bensalem, PA
- 1460 East Route 70, Cherry Hill, NJ
- 514 North Kings Highway, Cherry Hill, NJ
- 1302 Route 38, Hainesport, NJ
- 195 N Greentree Rd, Marlton, NJ
- 153 Bridgeton Pike, Mullica Hill, NJ
- 1101 Tilton Road, Northfield, NJ
- 6 Haddonfield-Berlin Road, Voorhees, NJ
- 303 Egg Harbor Rd, Sewell, NJ
- 201 N Rt 73, West Berlin, NJ
According to The-Sun, customers in the Philadelphia area do have alternatives to bank with Fulton outside of the closed branches, but they will need to make a journey to do so.
For instance, the closest spot to the closed branches in Center City, Philadelphia, is approximately three miles distant.
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