Major Shift in Banking Landscape Sparks Concern for Local Communities.
The banking world is facing another round of closures, as one of the nation’s largest financial institutions is set to shut down 60 branches in various states. This move includes 14 locations in New York, leaving many residents wondering about the future of their neighborhood services. Some industry experts say these closures reflect the changing habits of customers who now rely on online and mobile banking tools.
Who Will Feel the Biggest Impact and How to Prepare for These Closures
Many depositors, especially older clients and those in small towns, may be affected by the reduced access to face-to-face services. Smaller communities that traditionally depend on local branches for personalized advice could feel the impact the most. Have you visited a physical bank recently, or do you handle all your transactions online? If you still prefer in-person conversations, take note of upcoming closure dates and explore alternative solutions in your area, such as shared branches or credit unions that might remain open.
Full List of the 14 Branches Scheduled to Close in New York During 2025
Flagstar Financial, recognized as one of the country’s 30 largest banks, has revealed that it will phase out its 60 targeted branches in three separate stages. Below is a table showing the New York locations slated to shut down:
| Branch Address | City |
|---|---|
| 3425 Veterans Memorial Highway | Ronkonkoma |
| 8622 Bay Parkway | Brooklyn |
| 41-11 Bell Boulevard | Bayside |
| 720 Grand Boulevard | Deer Park |
| 247-53 Jamaica Avenue | Bellerose |
| 2335 New Hyde Park Road | New Hyde Park |
| 97-70 Queens Boulevard | Rego Park |
| 134-40 Springfield Boulevard | Springfield Gardens |
| 93-22 Jamaica Avenue | Woodhaven |
| 4246 Broadway | New York City |
| 5770 Hylan Boulevard | Staten Island |
| 1214 Castleton Avenue 4 | Staten Island |
| 832 Jewett Avenue J | Staten Island |
| 31-06 Farrington Street | Whitestone |
The first wave of closures has already started, with 28 branches either shut down or about to close. For many customers, the biggest worry is finding a nearby ATM or in-person service as soon as possible. Nobody wants to drive across town simply to deposit a check.
Major Retail Chains and Their Upcoming Nationwide Closures Continue to Grow
Banks are not the only large institutions rethinking brick-and-mortar locations. Over the past year, popular retailers have announced widespread shutdowns, pointing to changing consumer preferences and broader economic factors. This trend has prompted many people to rely on online services not only for banking, but also for general shopping and errands. Consequently, the traditional idea of “going out to take care of business” might be fading faster than we think.
In light of these developments, experts advise staying informed about which branches in your community are set to close. It’s also wise to explore digital banking options or consider regional institutions that still offer local service. Above all, keep a close eye on announcements from both banks and retailers, as more closures could be on the horizon.