The prominent financial institution is preparing to shut down dozens of branches across several states, including two locations in Connecticut. These closures, set for June 5, have sparked concern among affected communities and customers.
In less than a month, TD Bank will follow through on its plan to close 38 branches nationwide, as confirmed by a 2024 filing with the Office of the Comptroller of the Currency. The pair of Connecticut closures is part of a broader wave impacting six branches in Massachusetts, four in Maine, and four in New Hampshire.
Who will be affected by these TD Bank closings and why they matter now
Local residents in Torrington and North Branford will soon have to travel farther for in-person banking services. The branch at 215 High Street in Torrington sits within the Torrington Commons Plaza, an area that has seen a decline in anchor tenants. Meanwhile, the branch at 1289 Foxon Road in North Branford is near a well-frequented Big Y supermarket. Both locations will permanently close on June 5, leaving customers to rely on nearby towns for their banking needs.
Still, the impact is not limited to Connecticut. Other parts of New England and states across the country are also seeing closures. TD Bank cites a strategic decision to optimize its physical network, emphasizing that digital platforms remain available for routine transactions. Ever wonder how many people prefer in-person service over online banking? For some, the human interaction and local presence are hard to replace.
How these branch closures relate to recent financial challenges and legal issues
The bank has been dealing with the repercussions of a $3 billion fine after pleading guilty in a money laundering case involving Colombian cartels. Federal authorities stated that gaps in the bank’s compliance program enabled illicit transactions.
According to Deputy Secretary of the Treasury Wally Adeyemo, “The bank enabled drug trafficking,” highlighting serious lapses in internal oversight. As part of the plea agreement, TD Bank agreed to a four-year monitor to enhance its anti-money laundering procedures. Below is a quick snapshot of some affected states and the number of closures:
| 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 |
TD Bank officials say they will assist any employees impacted by the closures, offering resources to aid with job transitions. For customers, the bank recommends migrating to nearby branches or leveraging digital channels for routine banking tasks.
Next steps for affected customers and communities
With June 5 just around the corner, anyone banking at these soon-to-close branches should take action by transferring accounts or exploring alternative branch and online options. Reviewing updated hours at remaining branches may also help plan in-person visits more efficiently. Ultimately, TD Bank assures customers of continued service through its remaining network, despite this wave of closures.