Newtown TD Bank Branch To Close In April: Report

NEWTOWN, PA — TD Bank has announced plans to close 81 of its 1,223 retail branches, including 11 in the Philadelphia region, by the end of April.

That includes the Newtown branch at 90 Upper Silver Lake Road, the Philadelphia Business Journal reported. It's unclear if the TD Bank in the Newtown Shopping Center will also be affected.

The closures are brought on by the COVID-19 pandemic, which has accelerated the switch from brick-and-mortar banking to digital operations, the Journal reported.

Based in Cherry Hill, New Jersey, TD Bank operates 1,223 retail branches nationwide. The 81 closures make up almost 7 percent of all of its locations.

"In reaching a decision to close specific TD Bank stores, we consider many business factors, including the number of customers visiting our stores, transaction volumes, the location's proximity to other TD Bank stores and the number of customers who use multiple store locations," TD Spokesperson Paige Wilkins said in a statement to the Philly Voice.

The closings may result in layoffs, a company spokesperson told the Journal.

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