A significant restructuring is underway at TD Bank as the financial institution confirms the closure of 51 branches across 13 states. This decision, which takes effect in early 2026, is part of the bank’s strategy to reduce approximately 10% of its physical footprint in the United States while enhancing its digital banking services. Currently, TD Bank operates more than 1,100 locations, and this recent move underscores a shift in focus towards meeting customer needs in an increasingly digital landscape.
Massachusetts will experience the most considerable impact, with at least seven branches set to close by January 29, 2026, including a drive-thru location. The Boston Business Journal reported that these closures aim to streamline operations and better serve customers through digital offerings. In a statement, TD Bank remarked, “We consistently evaluate our network to ensure we’re serving our communities where they need us, which at times results in store closures or relocations to nearby neighborhoods.” The bank also indicated that it intends to open new branches in these areas in the future, pending regulatory approvals.
The branch closures will not be limited to Massachusetts. Connecticut will see three branches shut down, while Florida will lose six locations. Other states affected include New Jersey with eight closures, New York with seven, Pennsylvania with five, and smaller reductions in states like Virginia and Vermont. The closures reflect a broader trend in the banking industry as institutions adapt to changing consumer behaviors.
TD Bank’s previous round of closures in 2025 saw 38 branches shut down by June 5, affecting locations in Massachusetts, New Jersey, Maine, and New Hampshire. At that time, the bank emphasized ongoing evaluations of store traffic, customer needs, and community landscapes as critical factors informing their decisions. A spokesperson for TD Bank noted, “As part of our ongoing strategic and business-as-usual reviews of TD’s retail locations, we evaluate things like store traffic, customer needs, product use, and community landscape to determine any needed changes to our physical network – a common practice across the industry.”
The bank has committed to assisting employees affected by the closures, facilitating their transition to other locations. This commitment is part of a broader strategy that has seen the institution open only eight new branches in 2024 while closing 53.
TD Bank is not alone in this trend. Competitors like Chase Bank closed 43 branches while opening 160 new ones last year. Similarly, PNC Bank has also reduced its branch count significantly, with around 250 closures across three states in the past two years.
As the banking landscape continues to evolve, the focus is clearly shifting towards digital services and away from traditional brick-and-mortar locations. With these recent announcements, TD Bank is positioning itself to respond to the changing needs of its customers while navigating the challenges of a competitive financial environment.
