FULTON Bank will close more than a dozen locations in the coming months.
The bank announced the closure of 13 branches in Philadelphia area later this year.
Shutdowns will occur throughout Philadelphia and South Jersey.
The decision follows the acquisition, in April, of the bankrupt Republic First Bank.
The bank disclosed this information in an SEC filing last week, per local affiliate WPVI-TV.
Closings are scheduled for around November 22nd.
“While it is never easy to close one of our financial centers, it is sometimes necessary after we evaluate factors including overlapping service areas and trends in how customers conduct their banking services,” a Fulton Bank spokesperson explained, according to with the vehicle.
O New Jersey Department of Banking and Insurance lists at least 10 requests from various banks for branch closures in 2024 on its website.
IMMINENT CLOSURES
Branches set to close include:
- 1701 John F Kennedy Blvd, Center City Philadelphia
- 1220 N. Broad Street, Philadelphia
- 8000 Frankford Avenue, Philadelphia
- 2100 Street Road, Bensalem, Pennsylvania
- 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, New Jersey
- 1101 Tilton Road, Northfield, NJ
- 6 Haddonfield-Berlin Road, Voorhees, NJ
- 303 Egg Harbor Rd, Sewell, NJ
- 201 N Rt 73, West Berlin, NJ
To bank with Fulton in the Philadelphia area outside of these closed locations, customers have options.
One of the closest locations to the aforementioned branches can be found at 1111 S Broad St in Philadelphia.
BANK’S RESPONSE
Fulton Bank is notifying the affected customer.
It is also working to reallocate current employees to new roles or other vacancies within the company, according to the outlet.
The move comes after regulators closed Republic First Bank, a regional lender that operated in Pennsylvania, New Jersey and New York, in April.
As part of the acquisition, Fulton announced it would make a donation to the Fulton Forward Foundation, which provided “additional impact grants to nonprofit community organizations across the region,” according to a report. Press release since then.
Fulton Bank acquired Republic’s 32 branches as part of the transaction.
After the move, Republic opened as Fulton and operated on its schedule.
While it is never easy to close one of our financial centers, it is sometimes necessary after evaluating factors including overlapping service areas and trends in the way customers conduct their banking.
Fulton Bank Spokesperson
“Consolidations like these allow us to operate more efficiently and invest in new financial services, while maintaining a network of financial centers where we meet with customers, listen to and understand their needs, and recommend the best financial solutions for them. ,” the spokesperson said.
Upon consolidation, Fulton Bank will operate approximately 60 financial centers in the Philadelphia and South Jersey metro areas.
Meanwhile, a major banking chain has confirmed it will close seven locations in one state in the coming weeks.
And someone found a lost envelope full of money, but the bank wouldn’t accept the deposit.
This story originally appeared on The-sun.com read the full story
