WAYZATA, Minn. — TCF National Bank, which has local branches at 155 Jewel-Osco stores, said Wednesday it plans to close 37 of those locations at stores in Illinois and Indiana by the end of March.
TCF is the third-largest bank in the Chicago market, behind J.P. Morgan Chase and BMO Harris Bank.
"We determined our customer base at these branches could be served by other nearby TCF locations, enabling us to redirect resources to fund our growth initiatives," a bank executive said in a story quoted by local media. Citing more use of mobile applications and ATM's, the executive also said there may be additional branch consolidations in the future.
"Customer behavior is changing," he noted. "Clearly, there are fewer visits in all our branches than there used to be."
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