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TD Bank plans to shutter 6 Mass. branches amid nationwide closures
TD Bank says the closures are part of regular evaluations, and it plans to open new stores in these communities in the future.
TD Bank plans to close six branches and one remote drive-thru in Massachusetts as part of a nationwide move to shutter 51 locations.
In a statement to Boston.com, TD Bank says that during an Investor Day last month, leaders shared plans to “deliver a stronger, more scalable U.S. retail presence” through store enhancements, tech-forward digital banking, and personalized services.
“We also regularly 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 statement said.
The statement added that TD Bank expects to open new stores in these communities, subject to regulatory approval.
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TD Bank said it is “committed to supporting impacted colleagues with resources to assist with the transition.”
TD Bank, the 12th-largest bank in the U.S., has over 1,000 locations in 16 states. It is the U.S. subsidiary of the Canadian multinational Toronto-Dominion Bank Group.
The bank is still recovering from a settlement with the U.S. federal government.
According to the Department of Justice, in October 2024, TD Bank pleaded guilty to conspiring to fail to maintain an anti-money laundering program and file accurate Currency Transaction Reports.
As part of the plea agreement, TD Bank agreed to pay $1.8 billion in penalties, enhance and remediate its anti-money laundering compliance program, and retain an independent monitor.
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In a statement, TD Bank said the closures are unrelated to the settlement.
TD Bank’s third-quarter results, released in August, show the company is bouncing back. Its reported earnings are $3.3 billion, compared to a loss of $181 million in the third quarter last year due to the anticipated fines.
Here is the list of closures in Massachusetts:
- 242 Main Street, Wareham, MA, 02571 (remote drive-thru)
- 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
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