TD Bank has announced plans to close 51 of its branches and one drive-through location by the end of 2026. The closures will affect customers across 13 states and the District of Columbia as the company accelerates its transition toward digital banking services.
This move is part of a broader corporate strategy to reduce or relocate approximately 10% of its physical locations. The bank is also implementing a significant cost-reduction plan aimed at freeing up capital for investments in its mobile and online platforms.
Key Takeaways
- TD Bank will shutter 51 branches and one drive-through across 13 states and Washington, D.C., by the end of 2026.
- The decision is part of a larger plan to achieve between $2 billion and $2.5 billion in savings.
- These savings will be reinvested into enhancing digital and mobile banking technologies.
- The closures reflect a nationwide trend of consumers preferring digital banking over in-person branch visits.
A Strategic Pivot to Digital Services
The decision to reduce its physical footprint is a key component of TD Bank's long-term financial strategy. During its 2025 Investor Day, the company outlined an ambitious goal to generate up to $2.5 billion in cost savings. These funds are earmarked for significant investments in technology.
TD Bank aims to create a more integrated experience for customers who move between online, mobile, and in-person banking. The company has set clear targets for this digital transformation.
TD Bank's Digital Goals
- Achieve 50% of total sales through digital channels.
- Increase digital adoption among its customer base to 70%.
- Handle 90% of all customer transactions through self-service platforms.
"We are confident we can achieve this goal because we have clear line-of-sight across various levers," said TD Bank CFO Kelvin Tran. He cited the migration of transactions to digital channels and the use of automation and AI as key drivers of this transformation.
Widespread Closures Affecting East Coast Customers
The branch closures will be felt across a wide geographic area, primarily along the East Coast. States including New York, New Jersey, Florida, and Massachusetts will see multiple locations cease operations. The bank has not yet specified how many of its 28,817 U.S. retail employees will be affected by the restructuring.
This is the second major round of closures for the bank this year, following a similar initiative that impacted branches in 10 states. The current plan represents a continued effort to streamline its operations and align with modern consumer habits.
Full List of Closing TD Bank Locations
The following branches are scheduled for closure by the end of 2026:
- Connecticut: 123 East Main Street, Plainville; 826 Wolcott Road, Wolcott; 60 Redding Road, Redding.
- Washington, D.C.: 2000 K Street, NW.
- Florida: 255 Alhambra Circle, Coral Gables; 1500 NE Miami Gardens Drive, North Miami Beach; 2208 66th Street, St Petersburg; 3125 W. New Haven Avenue, Melbourne; 1000 S.E. Highway, Crystal River; 1 US 27 North, 621 East, Lake Placid.
- Massachusetts: 175 Cabot Street, Beverly; 153 Meadow Street, Chicopee; 1708 Falmouth Road, Centerville; 45 Central Street, Lowell; 99 West Street, Pittsfield; 79 Lynnfield Street, Peabody; 242 Main Street, Wareham (remote drive-thru).
- Maryland: 8661 Colesville Road, Silver Spring.
- Maine: 32 Goding Avenue, Lincoln Plaza, Lincoln; 835 Main Street, Westbrook; 217 High Street, Ellsworth.
- North Carolina: 201 Wren Drive, Hendersonville.
- New Hampshire: 184 Route 101, Bedford; 2561 Main Street, North Conway.
- New Jersey: 385 White Horse Pike, Atco; 177 Columbia Turnpike, Florham Park; 571 East Bay Avenue, Manahawkin; 232 Richmond Avenue, Point Pleasant; 418 Belmont Avenue, Haledon; 230 Forsgate Drive, Jamesburg; 1100 Lake Street, Ramsey; 4057 Asbury Avenue, Tinton Falls.
- New York: 655 Avenue of the Americas, New York; 391 Jericho Turnpike, Jericho; 1144 Walt Whitman Road, Melville; 620 Route 25A, Mount Sinai; 576 Second Avenue, New York; 14 Main Street, Hudson Falls; 482-484 Bergen Street, Brooklyn.
- Pennsylvania: 399 Market Street, Philadelphia; 200 Lancaster Avenue, Devon; 9996 Haldeman Avenue, Philadelphia; 1064 Second St. Pike, Richboro; 131 East McDade Boulevard, Folsom.
- South Carolina: 260 Columbia Avenue, Chapin; 2003 N. Oak Street, Myrtle Beach; 5041 Calhoun Memorial Hwy., Easley; 307 North Main Street, Marion.
- Virginia: 6566 Little River Turnpike, Alexandria; 6260 Old Dominion Drive, McLean.
- Vermont: 27 East Allen Street, Winooski; 21 Elm Street, Woodstock.
Reflecting a Broader Industry Trend
TD Bank's move is not happening in isolation. It is part of a larger shift across the entire banking industry as financial institutions adapt to changing customer preferences. The days of weekly visits to a local bank branch are fading for a large segment of the population.
The Decline of In-Person Banking
A recent survey from Morning Consult highlighted the dominance of digital banking. The data revealed that in the 12 months ending in November 2024, 55% of bank customers used a mobile app as their primary banking method. Another 22% preferred online banking on a computer, while only 8% reported visiting a physical branch most often.
This trend is particularly strong among younger demographics. Two-thirds of both Gen Z and Millennial consumers primarily use mobile banking apps. However, the shift is not limited to the young; 41% of Baby Boomers now favor online banking over visiting a branch.
"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."
- Brooke Ybarra, ABA Senior VP of Innovation Strategy
These closures come several months after TD Bank faced significant legal challenges. In October 2024, the bank agreed to pay $1.8 billion in penalties after the U.S. Department of Justice found that it had failed to maintain an effective anti-money laundering program. The bank pleaded guilty to charges related to neglecting oversight of trillions of dollars in transactions.
