The Kerrville branch of Bank of America will close May 22, the company told its customers via an email and an online posting. The Main Street location is part of dozens of branch closures the company has made or will make in the months to come.
Bank of America, still the nation's largest bank, told its customers they could receive in-person customer service at its Boerne branch or locations in San Antonio.
In an article from April of last year, the American Banking Association said the pace of bank branch closures could intensify in small and rural communities as more people transition to online banking.
"Americans increasingly rely on digital channels to access banking services," the ABA article said. "More than a third (34%) of American households used mobile channels as their primary method of accessing bank accounts in 2019, according to the FDIC, up 18.4 percentage points from 2017, with the largest gains in adoption of mobile banking among Black, Asian, and Hispanic Americans. Given continued focused investment in expanding broadband access across the U.S., digital banking presents a promising avenue for further bridging the financial divide."
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