TD Bank is the latest big-name bank scaling back, and fast. By June 5, 38 TD Bank branches across 10 states and D.C. will shut their doors for good, leaving many customers scrambling to move accounts, prescriptions, or safe deposit boxes in time.
The closures come after a brutal year for the banking giant, one that included a massive $3 billion money laundering settlement, legal fallout, and stalled expansion plans.
Which TD Bank Locations Are Closing?
TD Bank is closing branches in Massachusetts, New York, New Jersey, Connecticut, Pennsylvania, Maine, Florida, South Carolina, Virginia, New Hampshire, and Washington D.C.. Here’s a quick state-by-state breakdown:
Massachusetts (6 branches)
- Bradford, East Longmeadow, Framingham, Holyoke, Methuen, Tewksbury
New Jersey (6 branches)
- Cedar Grove, Holmdel, Marlton, Ringwood, Flemington, Spring Lake Heights
New York (5 branches)
- Manhattan (2), Middletown, Greenlawn, Plattsburgh
Florida (3 branches)
- Daytona Beach, Lake City, Miami Beach
Maine (4 branches)
- Fairfield, Fort Kent, Gorham, Houlton
New Hampshire (4 branches)
- Bristol, Contoocook, Hampton, Wilton
Connecticut (2 branches)
- North Branford, Torrington
Pennsylvania (3 branches)
- Philadelphia, Frazer, Morrisville
South Carolina (2 branches)
- Columbia, Greer
Virginia (2 branches)
- Centreville, Reston
Washington D.C. (1 branch)
- Wisconsin Avenue NW
Why Is TD Bank Closing Branches Now?
According to a TD Bank spokesperson, these closures are part of a routine “network optimization”, which includes evaluating customer needs and market trends. But it’s not just business as usual, the bank’s recent legal issues have played a big role.
Last year, TD Bank was hit with a $3 billion penalty after pleading guilty to conspiracy to commit money laundering, per the Department of Justice. Investigators alleged that the bank enabled criminal activity by failing to flag suspicious transactions.
CEO Bharat Masrani acknowledged that the legal battle stalled expansion plans and forced internal restructuring. “We know what the issues are, and we are fixing them,” he said in a statement. “I’m 100% confident we’ll emerge stronger.”
What TD Bank Customers Need to Know
If your local TD Bank is shutting down, here’s what you should do:
- Act before June 5: That’s the final day for in-person banking at the affected locations.
- Check your mail or email: TD Bank is sending notices to customers with instructions.
- Set up new services: If your branch had things like safe deposit boxes or business accounts, contact customer support immediately.
- Mobile banking remains active: You can still access your account via the TD Bank app or website.
Banking Industry in Trouble?
TD Bank isn’t alone. Other major banks are also scaling back their physical presence:
- Santander is closing 18 U.S. branches this summer
- Flagstar Financial shut down 28 locations this spring
- Wells Fargo and Bank of America have each closed dozens of locations in 2024 and 2025
In fact, a report from Self Inc. suggests that 1,600+ branches close per year on average, and if that trend continues, most brick-and-mortar banking may disappear by 2041.
PAA: People Also Ask
Why is TD Bank closing so many branches?
Closures are part of routine network evaluations, but recent legal troubles and a $3 billion money laundering settlement have pushed the bank to restructure faster than planned.
Is TD Bank going out of business?
No. TD Bank still has over 1,000 branches and remains one of the largest banks in North America. But it is tightening operations.
Can I still bank online with TD Bank?
Yes. All online and mobile banking services remain unaffected by branch closures.
What should I do if my TD Bank is closing?
Move any critical services (e.g., safety deposit boxes), visit your branch before June 5, and consider transferring to a nearby TD location or competitor.
TD Bank closures are just the latest sign that physical banking is shifting fast. Whether you’re a longtime customer or just trying to cash a check, it’s time to go digital, or relocate your account.
If your branch is on the list, make sure you get everything in order before June 5. After that, you could be left in the lurch.
