Popular Bank Announces Closure of 38 Locations, Connecticut Included

The unfortunate trend continues.

Businesses continue to close whether it's for under performance or in this case, as a plan to optimize its operations.

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TD Bank has announced they will be closing 38 locations across 10 states. The decision follows the bank's effort to recover from a $3 billion settlement with the U.S. Department of Justice over money-laundering violations, according to News Week.

The 10 states that will be affected by the closures are as follows:

• Connecticut - 2 branches
• Washington D.C. - 1 branch
• Florida - 3 branches
• Maine - 5 branches
• Massachusetts - 6 branches
• New Hampshire - 4 branches
• New Jersey - 5 branches
• New York - 5 branches
• Pennsylvania - 3 branches
• South Carolina - 2 branches
• Virginia - 2 branches

These closures will take effect by June 5. They come with the industry-wide shift to digital banking. Just like most things, everything can happen digitally now, so there isn't as much need for in-person stores.

The 2 Connecticut branches that will be closing their doors are the North Branford location which is located at 1289 Foxon Road, North Branford, as well as the Torrington Commons location which is located at 215 High St, Torrington.

TD Bank currently has 52 locations in Connecticut, so this may not be too much of an inconvenience. To the people that use these two locations for their every day banking, I get how frustrating it can be. When Wells Fargo was closing so many of their locations, I went through the same thing.

Resorting to online banking is definitely the most convenient of all. I'm just waiting to see if all of these banks start rapidly closing their locations or not due to the uptick in digital banking. Only time will tell.