TD Bank is winding down 39 branch locations across the United States by June 5. This decision follows a hefty $3 billion settlement with the U.S. Department of Justice over money-laundering violations. Founded in 1919, TD Bank is one of the oldest names in finance, and its move shows just how much the banking world is changing for both employees and customers.
Looking back at TD Bank
TD Bank has made a name for itself over the years, especially during the 1950s when it really began to expand. Today, it operates more than 1,100 branches nationwide, serving millions with a full range of banking services (a familiar sight for many Americans). Still, recent hurdles have led the bank to rework its approach. In a statement, they said, “We’ve made the difficult decision to eliminate some roles that are no longer aligned with our business model,” a sign that they’re shifting gears in response to both outside pressures and internal reviews.
Where the closures are happening
The branch shutdowns are spread across various states, touching communities nationwide. In Connecticut, the closures include:
- 1289 Foxon Road in North Branford
- 215 High St in Torrington
In Washington, D.C., the Georgetown branch at 1611 Wisconsin Avenue NW will also close.
Down in Florida, the branches slated for closure are:
- Daytona Beach’s Beville Nova location at 1590 South Nova Road
- Lake City’s Main Blvd at 160 NW Main Blvd
- Miami Beach’s South Beach 5th Street at 500 Collins Avenue
In Maine, four locations will shut their doors:
- Fairfield at 112 Main St
- Fort Kent at 62 West Main
- Gorham at 95 Main Street
- Houlton at 6 North St
Massachusetts will say goodbye to six branches:
- Bradford’s branch at 860 South Main St
- East Longmeadow’s location at 465 North Main St
- Framingham’s office at 420 Franklin St
- Holyoke’s site at 50 Holyoke St
- Methuen’s location at 547 Broadway
- Tewksbury’s branch on 2345 Main Street
New Hampshire is next with closures in:
- Bristol (10 North Main St)
- Contoocook (884 Main St)
- Hampton (40 High St)
- Wilton (905 Elm St)
In New Jersey, the following branches will close:
- Cedar Grove at 85-107 Pompton Avenue
- Marlton at 191 E Route 70
- Ringwood at 145 Skyline Drive
- Raritan Township at One Royal Rd
- Spring Lake Heights at 555 Warren Avenue
New York City will lose two key branches:
- 125 Park Avenue
- 451 Lexington Avenue
Additional closures in New York include:
- Middletown at 156A-B Dolson Avenue
- Plattsburgh at 136 Margaret Street
- Greenlawn at 460 Pulaski Road
In Pennsylvania, three branches are closing:
- Philadelphia’s Chestnut Hill location (8600 Germantown Pike)
- Frazer’s office at 101 Lancaster Avenue
- Morrisville’s site on West Trenton Ave & Carlisle Ave
South Carolina will see closures in:
- Columbia’s Main branch at 1501 Main Street
- Greer’s Thornblade location at 6 Elmshorn Drive
Finally, in Virginia, the affected branches are:
- Centreville (on Centreville Drive and Machen Road)
- Reston at 1750 North Hampton Avenue
Helping employees move forward
Even with all these closures, TD Bank is clear about taking care of its staff during this transition. “We are committed to supporting impacted colleagues fairly, with respect and providing resources to assist with the transition,” stated a source at The Street (this means they’re offering help to navigate job changes and look for new opportunities).
This news from TD Bank marks a major shift in the banking scene as companies adjust to new pressures while keeping their operations lean. For customers who rely on these branches for everyday banking, it might be a good time to check out digital options or look around for nearby alternatives. As TD Bank makes this change, it’s important for everyone involved—employees, customers, and local communities—to keep an eye on how things unfold.
