Santander Bank said it plans to close 15 more Pennsylvania branches by the end of 2021. If those sites are all located in southeastern Pennsylvania, it could equate to shaving off as much as a quarter of its remaining locations in the Philadelphia region.
“Like many industries, our customers’ preferences and behaviors are shifting,” Santander said in a statement provided to the Philadelphia Business Journal. “We are listening and responding by adjusting our business model and delivery to better serve our customers, which includes consolidating branches while also opening new ones; increasing our investment in digital, service center and ATM capabilities; and testing new products and services.”
While Santander said it plans to announce 15 more Pennsylvania branch closures in 2021, it also has five large capital projects, including opening a new branch, and more than 23 branch renovations planned for the next 18 months.
Santander, which remains the seventh-largest deposit taker in the region, already closed two area branches earlier this year in North Philadelphia and Dresher and has filed to shutter eight more this month in Yardley, Wyndmoor, Lafayette Hill, Chestnut Hill, Mount Airy, Northeast Philadelphia, Burlington and Pennsauken.
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