Banks Closing in California- 400+ Massive California Bank Closure in 2024

There are almost 11 branches of popular California banks that will be closed by the end of 2024 including Bank of America and Wells Fargo branches. There can be more physical bank branches replaced with digital banking also known as mobile banking. Check the whole list of closed and Bank closings in California in 2024 in this article.

Banks Closing in California 

A significant development in the financial sector was made by bank closures in California and there are several reasons behind this trend such as shifting of banking sectors to the digital world and economic challenges. There are several banks that saw closures and some will see closure in California. 

Major Bank branches including Bank of America and Chase Bank have been shut but these are not enough which saw closures in California. This shift is largely due to the increasing preference for online banking services, which offer greater convenience and lower operational costs for banks. The full list of banks closing in California and closed banks in California is listed in this article for your ease of checking and verifying other details. 

Full list of Banks Closing in California with Dates

This table lists some of the major banks that are scheduled to close their branches in California and that have been closed in California throughout 2024. There are 11 banks that will close in California and over 400 branches of banks have been closed in earlier 2024.

Bank Name	Branches	Close Date
Wells Fargo	7847 Lichen Drive, Citrus Heights 4135 Pacific Coast Highway, Torrance	Under Closing Process
Bank of America	25 West Main St, Brawley 512 Fletcher Parkway, El Cajon 4054 Macarthur Blvd, Oakland 1515 Broadway, Sacramento 866 North Wilcox Avenue, Montebello 5225 Canyon Crest Drive, Riverside 8949 Clairemont Mesa Blvd, San Diego 1053 Sun Valley Center Blvd, Concord 8949 Clairemont Mesa Blvd, San Diego 7404 Jackson Drive, San Diego 8655 Beverly Blvd Los Angeles 780 Blossom Hill Rd, Los Gatos	Under Closing Process
U.S. Bank	3380 Coach Lane, Cameron Park 5450 Dewey Drive, Fair Oaks 400 Oceangate, Long Beach 6040 Telegraph Road, Ventura	Closed in Earlier 2024
Chase Bank	690 West Huntington Drive, Monrovia 110 Wilshire Blvd, Suite 3, Los Angeles	Closed in Earlier 2024
Liberty Bank	500 Linden Ave, San Francisco	Closed in Earlier 2024
BMO Bank	16920 Van Buren Blvd, Riverside	Closed in Earlier 2024
PNC Bank	16920 Van Buren Blvd, Riverside	Closed in Earlier 2024
Bank Of America	2708 Ming Avenue, Bakersfield 1440 Truxtun Avenue, Bakersfield 450 Montgomery Street, San Ramon43591 Mission Blvd, Fremont 40 West Foothill Blvd, Upland 2516 East Chapman Avenue, Fullerton 800 Irving Street, San Francisco 39168 Winchester Road, Murrieta 294 Fox Hills Mall, Culver City 40750 Winchester Road, Temecula 7395 Mission Street, Daly City 2012 E Avenida De Los Arboles, Thousand Oaks 72840 Highway 111, Palm Desert 12434 North Main Street, Rancho Cucamonga 14006 Riverside Drive, Sherman Oaks 2020 Lake Tahoe Boulevard, South Lake Tahoe 8375 Arroyo Circle, Gilroy 1175 Arnold Drive, Martinez 555 The Shops At Mission Viejo, Mission Viejo	Closed in Earlier 2024
Wells Fargo Bank	2201 Pacific Coast Highway, Lomita 1309 North Chester Avenue, Bakersfield 535 South Myrtle Avenue, Monrovia 1705 N First Street, San Jose 5377 West Centinela Avenue, Los Angeles 11701 Telegraph Road, Santa Fe Springs 3480 South La Brea Avenue, Baldwin Hills 1335 Webster Street, San Francisco 1150 East Vista Way, Vista 315 S Beverly Drive, Beverly Hills 4250 Van Buren Boulevard, Riverside 8955 Atlanta Avenue, Huntington Beach 3550 Wilshire Blvd. Los Angeles 303 2nd Street, San Francisco 270 Redwood Shores Parkway, Redwood City 1305 W. Sepulveda Boulevard, Torrance 2485 Notre Dame Boulevard, Chico 1601 West Capitol Avenue, West Sacramento 1801 North Hacienda Boulevard, La Puente	Closed in Earlier 2024
Chase Bank	1030 W Alameda Avenue, Suite D-13, Burbank 6950 Sunrise Boulevard, Citrus Heights 140 West Anaheim Street, Suite C, Wilmington 2201 Westwood Boulevard, Los Angeles 18499 Hesperian Boulevard, San Lorenzo 5060 Arlington Avenue, Riverside	Closed in Earlier 2024
Citi Bank	350 Rhode Island Street, Suite 140N, San Francisco	Closed in Earlier 2024
First Republic	1888 Century Park East, Los Angeles 73010 El Paseo, Palm Desert 431 Wilshire Blvd, Santa Monica 1215 El Camino Real, Menlo Park 9593 Wilshire Blvd, Beverly Hills 776 El Camino Real, Redwood City 44 Montgomery Street, San Francisco 2800 E Coast Hwy, Corona Del Mar 1088 Stockton St, San Francisco 116 E Grand Ave, Escondido 8347 La Mesa Blvd, La Mesa 139 S El Camino Real, Millbrae 640 3rd Street, Santa Rosa 999 Adams St, Saint Helena 275 Los Gatos Saratoga Rd, Los Gatos Ca 400 S San Antonio Rd, Los Altos 10297 S De Anza Blvd, Cupertino 1200 Prospect Street, La Jolla 680 Hartz Ave, Danville 3991 Macarthur Blvd, Newport Beach 1111 South El Camino Real, San Mateo 1099 4th Street, San Rafael 1200 State Street, Santa Barbara 279 West Portal Ave, San Francisco 888 S Figueroa St, Los Angeles 1625 The Alameda, San Jose 249 Main St, Pleasanton 211 S J St, Livermore	Closed in Earlier 2024

What is the effect of Banks Closing in California?

The closure of banks in California has many effects on the local community as well as on financial services. 

Impact on Local Community 

The bank’s closure in California will see significant impact on the local community especially in rural areas and people will face many challenges to utilise banking services such as cash withdrawals, deposits, in-person financial advice, etc. Some small businesses also use bank service so the closure can also impact their daily operational costs. Some elderly people who only rely on physical methods can also face challenging circumstances due to this closure. 

Shift to Digital Banking 

The shift of local banks to digital banking seems to be very convenient for many people because nowadays people prefer mobile banking which can be utilised anywhere. But on the other hand, there are several groups who are not tech-savvy or who have lack access to digital devices may not fully participate in this digital economy. This shift creates digital inequality among people. 

Economic and Employment Effects 

The Banks Closing in California also affects the economy because it can lead people to lose their banking jobs. The physical bank building attracts more businesses to grow when people arrive at the bank locations but the absence of banks also affects the other businesses. The reduction in the foot traffic can greatly impact on local businesses and all this factors can contribute in the economic and employment decline.

Final Insight

In short, the bank closing in California has many advantages such as technological growth but banking industries and policy makers also have to understand the challenges and disparities which comes from the permanent closure of physical bank branches in the areas of California. While online banking provides flexibility to run daily operational matters from anywhere, it is also making challenging circumstances for elders or those who have no good internet access. 

There are almost 11 branches which will close soon in California and over 400 have been closed in 2024. People can anticipate more banking closures and shift towards digital banking until the end of 2024. The future of baking will be based on a blend of digital innovation, evolving branch roles, a focus on financial inclusion, sustainability efforts, regulatory adaptation, economic resilience, etc. This online adoption of banking sectors will serve their customers more effectively and it’s expected that it will improve the overall economy.