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Banking & Finance

Bank Of America To Close Downtown Wilmington Branch

By Jenny Callison, posted Jun 7, 2019
Bank of America plans to close its North Third Street branch next year.
Bank of America has announced that it is closing its downtown Wilmington branch effective Jan. 28, 2020. The news was sent first via email Friday morning to customers affiliated with that branch – or financial services center, as the bank terms its locations – at 319 N. Third St.
 
Accounts at the downtown branch will be transferred to Bank of America's closest financial center, which is at 3305 Oleander Drive in Hanover Center, according to Jennifer Darwin, Bank of America's senior vice president of corporate communications.  
 
"We will also continue to direct customers to our other location in the University area at 502 S. College Rd.," Darwin said in an email Friday. "Customers who opened accounts or transact regularly at the center were mailed letters this week and information is being distributed in the financial center."

The building, which is owned by River Bend #1 LLC, was built in 2008 and has several other tenants including fintech firm Apiture and law firm Cranfill Sumner & Hartzog.
 
In her communication, Darwin acknowledged how customers' changing banking behavior is affecting decisions about brick-and-mortar locations.
 
"Every day, more customers use their mobile phone or online banking to do their basic transactions, and they come into our centers when they want advice and guidance for their more complex needs," she wrote. "In some instances, this has resulted in the consolidating of financial centers, like this one. Our decision here is really based on the need to balance customer preference and opportunities for growing our business. We make every effort to accommodate employees at our other locations and within the company."

Darwin confirmed that the remaining eight Bank of America financial centers in Brunswick, New Hanover and Pender counties, as well as two in Onslow County, will remain in operation. The bank also maintains 32 ATM locations in that four-county area.
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