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Banking & Finance

Truist’s Downsizing Not set To Impact Wilmington

By Jenny Callison, posted Mar 1, 2024
Charlotte-based Truist Bank recently announced it would continue to close branches and reduce its workforce in a $750 million cost-cutting effort first announced in September. 

But no branches in the Wilmington area will be among the “several dozen” Truist has announced it will shutter in March, according to bank spokesperson Amanda Meyers. She also stated that no local employee layoffs are planned.

The nine North Carolina locations slated for closure are within about 2.5 miles of another Truist branch, according to a Jan. 3 story in American Banker.

Charlotte-based Truist said it would shutter about 4% of its branch network, roughly 80 locations. As of Dec. 29, 2023, Truist operated 2,006 branches across 17 states and Washington D.C., according to the Federal Deposit Insurance Corp. It’s the seventh-largest U.S. commercial bank by assets.
 
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