Large Regional Bank Closing 4 Philadelphia-area Branches and 4 in NJ
Customers of a large regional bank will have fewer locations to make their financial transactions at in the near future.
According to the Philadelphia Business Journal, the parent company of Santander Bank has filed to close a total of 13 branches, including four in and around Philadelphia, four in Central Pennsylvania, and another four in New Jersey.
In a statement provided to PennLive.com, a representative of the bank said,
Like many industries, our customers’ preferences have changed, with more customers choosing to bank with us online. Therefore, we are reimagining the customer and employee experience by simplifying our processes, refining our branch footprint, and increasing our investment in digital capabilities to align with the evolving needs of our customers.
The Philadelphia Business Journal reports these Philadelphia-area branches are scheduled to close,
- City Ave., Wynnefield/Philadelphia
- E. Erie Ave., North Philadelphia
- Woodland Ave., Southwest Philadelphia
- Lancaster Ave., Devon, PA
Meanwhile, NJ.com says these Garden State locations will be closing
- Berlin Rd., Clementon
- Nottingham Way, Hamilton
- Nassau St., Princeton
- Rt. 33, Robbinsville
These branches represent a tiny number of the nearly 500 locations operated by Santander Bank across the northeastern part of the country and Florida.
According to Wikipedia, Santander Bank was founded in 1902 as Sovereign Bank in Wyomissing, PA. Sovereign expanded rapidly starting in the 1980s. In 2006, Banco Santander began purchasing portions of Sovereign and fully took control of the company in 2009. Sovereign changed its name to Santander in 2013.