The well-known financial company is getting ready to close dozens of branches in multiple states, including two in Connecticut. Customers and impacted communities are worried about these closures, which are scheduled for June 5.
According to a 2024 filing with the Office of the Comptroller of the Currency, TD Bank will proceed with its plan to close 38 branches across the country in less than one month.
The two Connecticut closures are a part of a larger wave that also affects four branches in Maine, six branches in Massachusetts, and four branches in New Hampshire.
Why these TD Bank closures are important now and who will be impacted?
For in-person banking services, residents of Torrington and North Branford will soon need to make the longer commute. The Torrington Commons Plaza, where the branch is located at 215 High Street, has seen a drop in anchor tenants.
In North Branford, the location at 1289 Foxon Road is close to a popular Big Y store. Customers will have to rely on neighboring towns for their banking needs after both locations permanently close on June 5.
However, Connecticut is not the only state affected.
Closures are also occurring in other states and regions of New England. Citing a strategic decision to optimize its physical network, TD Bank highlights the continued availability of digital platforms for everyday transactions.
Have you ever wondered what percentage of people would rather use in-person banking than online banking? Some people find it difficult to replace the local presence and human interaction.
The connection between these branch closures and current legal and financial difficulties
Following its guilty plea in a money laundering case involving Colombian cartels, the bank has been facing the consequences of a $3 billion fine.
According to federal authorities, illegal transactions were made possible by weaknesses in the bank’s compliance program.
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“The bank enabled drug trafficking,” said Deputy Secretary of the Treasury Wally Adeyemo, pointing to grave shortcomings in internal control. TD Bank consented to a four-year monitor to strengthen its anti-money laundering protocols as part of the plea deal.
A brief overview of some impacted states and the quantity of closures is provided below:
| State | Number of Closures | Closing Date |
| Connecticut | 2 | June 5, 2025 |
| Massachusetts | 6 | June 5, 2025 |
| Maine | 4 | June 5, 2025 |
| New Hampshire | 4 | June 5, 2025 |
Officials from TD Bank say they will help any workers affected by the closures by providing resources to help with job changes.
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The bank advises clients to use digital channels for everyday banking tasks or to move to a nearby branch.
Next actions for impacted communities and customers
Anyone banking at these soon-to-close branches should act now, as June 5th approaches, by transferring their accounts or looking into other branch and online options.
Planning in-person visits more effectively may also be aided by reviewing the most recent hours at the remaining branches.
Finally, despite this wave of closures, TD Bank guarantees that its remaining network will continue to serve its customers.
