TD Bank Closing 81 Locations, Including In Rockville: Report

ROCKVILLE, MD — TD Bank is shuttering 81 of its 1,223 retail branches in the U.S., including one in Rockville, the Business Journals reported.

They include locations in 15 states from Maine to Florida, and account for nearly 7 percent of the bank's branches. According to the Business Journals, all affected branches, including the one at 350 Gude Drive, will close by April 23.

The closures come at a time when more banks are shifting to digital and online banking.

There was a 200 percent jump in new mobile banking registrations in April, according to Fidelity National Information Services. In that same month, visits to bank branches were down by 50 percent, according to fintech company Novantas.

Ernie Diaz, executive vice president and head of consumer distribution at TD, told the Business Journals that the bank has a strategy to improve its branch network and respond to clients' changing expectations for digital and mobile banking.

"Those efforts were underway prior to the pandemic, but were paused in 2020 in an effort to provide colleagues with much needed stability in uncertain times," Diaz said. "The decision to move forward with these changes at this time reflects our commitment to reinvesting in the business and in our communities in new and different ways. Stores are a vital part of our strategy, and we will continue to invest in them, which can mean identifying new locations, renovating existing locations, and expanding our ATM network."

TD told the news outlet that there may be some layoffs, but did not provide specific numbers.