70-year-old bank chain closing 51 locations across 13 states | Official Website of Louis Velazquez, entrepreneur, finance guy and tech innovator

Not too long ago, visiting a physical bank branch was an essential part of managing one’s finances, whether it meant opening an account, cashing a check, or depositing funds.

With the rise of digital banking, this is becoming a thing of the past, which makes entering a traditional brick-and-mortar branch feel like an outdated experience.

The convenience of banking apps has now placed financial management at one’s fingertips. As consumers increasingly embrace digital options, many banking companies are reassessing their physical footprints, realizing that they may now have more branches than demand requires in today’s modern banking era.

One of the largest banks in the U.S. has taken a major step in this direction, initiating a significant restructuring effort to better align with evolving consumer habits and meet their needs, which could mark the beginning of a possible bank-wide overhaul.

TD Bank (TD) plans to close 51 branches and one drive-through location across 13 states and Washington, D.C., by the end of 2026. This move is part of the bank’s goal to reduce or relocate 10% of its physical locations.

The company currently operates 2,154 retail locations across North America, including 1,100 branches in the U.S., placing it among the nation’s top 10 banks, according to TD’s Q3 2025 Investor Presentation.

Although TD has yet to disclose how many jobs will be affected by the closures, the company employs 28,817 workers across its U.S. retail operations.

TD Bank will close 51 locations across 13 states.

Shutterstock

TD Bank shifts its strategy toward digital banking

During its 2025 Investor Day, TD Bank unveiled an ambitious cost reduction plan targeting $2 billion to $2.5 billion in savings. These cuts will support investments in digital and mobile banking, as the company seeks to deliver a more seamless omnichannel experience.

“We are confident we can achieve this goal because we have clear line-of-sight across various levers,” said TD Bank CFO Kelvin Tran.

More Closures:

“These include distribution transformation as we migrate more transactions to digital channels, global delivery workforce as we consolidate with vendors to drive synergies from scale, automation & AI, and technology & data modernization.”

TD aims to achieve 50% of total sales acquired digitally, 70% digital adoption, and 90% of transactions handled via self-serve platforms, which signals customers’ increasing preference for digital banking over in-person visits.

TD Bank’s closures follow alarming legal challenges

This is not TD Bank’s first time conducting mass closures. Earlier this year, it closed dozens of branches across 10 states and Washington, D.C., in an effort to streamline its operations.

However, this round of shutdowns came months after TD faced scrutiny over its compliance practices. In October 2024, the U.S. Department of Justice (DOJ) revealed that TD had failed to maintain an effective anti-money laundering program, allowing illegal transactions to go unreported, according to the DOJ.

TD pleaded guilty to the charges and was ordered to pay $1.8 billion in penalties for neglecting oversight of $18.3 trillion in transaction activity.

List of TD Bank locations closing:

Connecticut

123 East Main Street, Plainville, CT, 06062
826 Wolcott Road, Wolcott, CT, 06716
60 Redding Road, Redding, CT, 06829

Washington, D.C.

2000 K Street, NW, Washington, DC, 20006

Florida

255 Alhambra Circle, Coral Gables, FL, 33134
1500 NE Miami Gardens Drive, North Miami Beach, FL, 33179
2208 66th Street, St Petersburg, FL, 33710
3125 W. New Haven Avenue, Melbourne, FL, 32904
1000 S.E. Highway, Crystal River, FL, 34429
1 US 27 North, 621 East, Lake Placid, FL, 33852

Massachusetts

175 Cabot Street, Beverly, MA, 01915
153 Meadow Street, Chicopee, MA, 01013
1708 Falmouth Road, Centerville, MA, 02632
45 Central Street, Lowell, MA, 01852
99 West Street, Pittsfield, MA, 01201
79 Lynnfield Street, Peabody, MA, 01960
242 Main Street, Wareham, MA 02571 (remote drive thru)

Maryland

8661 Colesville Road, Silver Spring, MD, 20910

Maine

32 Goding Avenue, Lincoln Plaza, Lincoln, ME, 04457
835 Main Street, P.O. Box 266, Westbrook, ME, 04092
217 High Street, Ellsworth, ME, 04605

North Carolina

201 Wren Drive, Hendersonville, NC, 28792

New Hampshire

184 Route 101, Bedford, NH, 03110
2561 Main Street, North Conway, NH, 03860

New Jersey

385 White Horse Pike, Atco, NJ, 08004
177 Columbia Turnpike, Florham Park, NJ, 07932
571 East Bay Avenue, Manahawkin, NJ, 08050
232 Richmond Avenue, Point Pleasant, NJ, 08742
418 Belmont Avenue, Haledon, NJ, 07508
230 Forsgate Drive, Jamesburg, NJ, 08831
1100 Lake Street, Ramsey, NJ, 07446
4057 Asbury Avenue, Tinton Falls, NJ, 07753

New York

655 Avenue of the Americas, New York, NY, 10010
391 Jericho Turnpike, Jericho, NY, 11853
1144 Walt Whitman Road, Melville, NY, 11747
620 Route 25A, Mount Sinai, NY, 11766
576 Second Avenue, New York, NY, 10016
14 Main Street, Hudson Falls, NY, 12839
482-484 Bergen Street, Brooklyn, NY, 11217

Pennsylvania

399 Market Street, Philadelphia, PA, 19106
200 Lancaster Avenue, Devon, PA, 19333
9996 Haldeman Avenue, Philadelphia, PA, 19115
1064 Second St. Pike, Richboro, PA, 18954
131 East McDade Boulevard, Folsom, PA, 19033

South Carolina

260 Columbia Avenue, Chapin, SC, 29036
2003 N. Oak Street, Myrtle Beach, SC, 29577
5041 Calhoun Memorial Hwy., Easley, SC, 29640
307 North Main Street, Marion, SC, 29571

Virginia

6566 Little River Turnpike, Alexandria, VA, 22003
6260 Old Dominion Drive, McLean, VA, 22101

Vermont

27 East Allen Street, Winooski, VT, 05404
21 Elm Street, Woodstock, VT, 05091 Source: Fast Company

Digital banking dominance

Digital banking continues to grow and has quickly become people’s preferred method, surpassing traditional banking due to its convenience and practicality, reflecting a clear shift in consumer behavior.

A survey conducted by Morning Consult found that 55% of bank customers use mobile banking apps, 22% use online banking via laptop or desktop, and only 8% have visited a retail branch in the 12 months ending November 22, 2024, according to the American Bankers Association (ABA).

Younger generations lead this trend, with two-thirds of Generation Z and Millennials using mobile banking apps most often, followed by more than half of Generation X.

Even Baby Boomers prefer digital banking, with 41% using online banking via laptop or desktop and only 4% visiting retail branches.

“While the pandemic greatly accelerated mobile banking adoption, America’s banks have sustained – and even increased – this growth by investing in innovative technologies that make banking on-the-go as seamless and secure as ever before,” said ABA Senior VP of Innovation Strategy Brooke Ybarra.