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Bank of American downtown branch to close

The Bank of America branch at 128 S. Washington St., Albany is expected to close on Feb. 8, 2013. (Oct. 18, 2012)

The Bank of America branch at 128 S. Washington St., Albany is expected to close on Feb. 8, 2013. (Oct. 18, 2012)

ALBANY -- The Bank of America branch at 128 S. Washington St. is scheduled to close permanently on Feb. 8.

Britney Sheehan, media relations manager for the Charlotte-based BOA, said the decision to close came with a decline in transaction customers -- those making visits to the facility itself.

Sheehan said bank customers nationwide are trending more toward automatic teller machines and online transactions.

"Generally, all the branches are down," Sheehan said. "Bank of America makes those decisions based on a proper balance of considerations. It was not a decision that was taken lightly."

Bank of America once occupied the entire multi-story facility at Washington and Oglethorpe. The facility was once considered the main location for Albany, a status that has now been assume by the branch near Albany Mall.

The facility, in its heyday, was filled with Bank of America staffers. Before it became Bank of America, the facility was home to C&S Bank, which occupied that building and adjacent buildings.

Newspaper reports in Charlotte, where BOA is headquartered, reported the the nation's second-largest lender by deposits has closed 262 banking centers since the beginning of 2011, around 31 percent of them in lower income neighborhoods.

Citing a report from banking research firm SNL Financial, BOA closed 157 of the 760 branches closed by all banks nationally in the year ending June 30, more than double the level of the next bank on the list.

BOA Chief Executive Brian Moynihan announced he plans to slash $5 billion in annual expenses by eliminating 750 locations over the next few years.

Comments

Amazed2 1 year, 6 months ago

Well look at the bright side now Aaron Blair has another building to market to revitalize downtown. Would make a really nice subsidizes apartment project.

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bigbob 1 year, 6 months ago

Another leaving the good bye city. Prince also leaving, Albany is fast becoming the low life city.

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Amazed2 1 year, 6 months ago

Also Stienmart in Nw Albany and Winn Dixie Radium Spring!! ByeBye Albany Amazing how quiet the EDC is on this subject. Last week the EDC could not estimate the $$$ impact on local economy from the Ga Throwdown Event? Damm guys all you need is rough headcount and Wag a number??

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Engineer 1 year, 6 months ago

What I'm more interested in is if they are closing the drive-thru teller location too? Because when they closed the BoA location at the corner of N. Slappey and Dawson, they kept the drive-thru teller location open.

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Cartman 1 year, 6 months ago

Too bad. Nice building. That's gonna hurt. But you know that your downtown isn't happening when even the Post Office is leaving.

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