Fulton Bank is headquartered in Lancaster, Pa. - PROVIDED BY FULTON BANK
Fulton Bank is headquartered in Lancaster, Pa. - PROVIDED BY FULTON BANK
Matthew Fazelpoor//July 26, 2024//
Fulton Bank is planning to close several branches as it continues its absorption of Republic Bank.
As NJBIZ reported, Fulton acquired Republic following a long and protracted proxy fight that ultimately ended in the bank’s seizure by regulators. Fulton assumed control of the failed bank’s deposits, assets and 32 branches. (See a timeline of developments below.)
As part of a consolidation, Lancaster-headquartered Fulton Bank is taking several actions, including closing 18 total branch locations.
“While it’s never easy to close financial centers, it’s sometimes necessary after we evaluate factors including overlapping service areas and trends in how customers conduct their banking,” a Fulton Bank spokesperson told NJBIZ. “Consolidations like these enable us to operate more efficiently and invest in new financial services, while maintaining a network of financial centers where we meet with customers, listen and understand their needs, and recommend the best financial solutions for them.”
Following these consolidations, Fulton Bank says it will have about 60 financial centers in greater Philadelphia and South Jersey – part of a network of more than 200 financial centers in New Jersey, Pennsylvania, Delaware, Maryland and Virginia.
“We are sending letters to customers who use affected financial centers, with recommendations for other nearby locations they can use,” the spokesperson noted. “Between now and when the financial centers are scheduled to close, our Human Resources team will work with affected employees to integrate them into a new role or help in identifying current openings they can apply for within our company.”
Click on any headline below for the most recent developments:
2024
2023
2022