Major US bank with more than 1,000 locations nationwide closing branch as frustrated customers directed elsewhere

A MAJOR bank with only 1,000 locations nationwide is closing another branch, leaving customers frustrated as they turn elsewhere.

Fifth Third Bank announced it will be closing one of its banking locations in Cincinnati, Ohio.

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The bank, located in downtown Cincinnati inside a Kroger store, is the nine-largest US-based consumer bank, said Fifth Third spokeswoman Beth Oates.

Customers will be directed to another location either in Mason or in Deerfield Township, said Oates.

There are 102 Fifth Third branches in Greater Cincinnati, the most of any bank.

According to Oates, the latest closure is part of the company's ongoing review of its branch network.

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"This is part of our overall strategy to enhance our distribution in Cincinnati with new locations and branch refreshes," she said.

A new location was recently built in Miami Township along with a refreshed location in Newport and another location that is set to open at the Cincinnati/Northern Kennedy International Airport later this year.

Earlier this summer, the bank announced it would close another branch in Westwood on August 31.

Other locations in Evansville, Indiana and Raleigh, North Carolina are also closing their doors.

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Many banks have been closing branches at a frequent rate as the habits of many customers have changed.

Consumers now use mobile apps, online banking, and ATMS for everyday transactions rather than visiting branches and working with tellers.

Between 2017 to 2021, nine percent of all bank branch offices closed, according to the National Community Reinvestment Coalition.

However, many banks still view branches as being vital to provide customers with expertise for loans, making major financial decisions, and other needs.

Meanwhile, a Wells Fargo is set to close with bosses admitting that it was difficult to shut the branch.

The branch in Allentown, Pennsylvania, is just one of dozens set to close.

Execs at Wells Fargo told Lehigh Valley Business that the branch is due to shut for good on November 1.

The company admitted that the closure wasn’t a move they took lightly.

Chiefs said: “Branches continue to play an important role in the way we serve our customers, and we continuously evaluate our branch network in light of changing customer needs, the increase in the use of digital banking, and market factors.”

But, Wells Fargo customers can access a branch located a mile away.

The closure was reported in the July 30 – August 4 weekly bulletin that was published on the Office of the Comptroller of the Currency website.

Branches across a raft of states, including Arizona, California, Florida, New Jersey, Maryland, and Colorado are set to close.

Wells Fargo banks in Georgia, Virginia, Wisconsin, and Washington have been slated to shut down.

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