News Summary
Bank of America has announced the closure of its ground-floor branch at 1301 Gervais St. in Columbia, scheduled for May 2026. While this reflects a trend of reducing physical locations due to changing customer banking habits, the bank’s upstairs offices will remain open. Customers can access services at nearby branches, with a focus on digital banking solutions. The decision aligns with the industry’s shift towards online services, highlighting a significant decrease in in-person transactions.
Columbia – Bank of America has announced plans to close its ground-floor branch located at 1301 Gervais St. in May 2026. This decision marks another step in a broader trend of reducing physical bank locations as customer banking habits evolve.
The bank’s upstairs offices at the same address will remain operational following the branch’s closure. This change is part of the bank’s ongoing efforts to adapt to the declining demand for in-person banking transactions. Bank of America is working to relocate employees from the closed branch to one of its 12 other locations in the Midlands area.
Customers seeking banking services will not have to travel far, as the nearest remaining Bank of America branch is approximately a five-minute drive away at 2111 Devine St. in the Five Points neighborhood. The branch closure comes at a time when the bank has reported a significant decrease in branch transactions while still noting that customers frequently visit branches for financial advice.
Bank of America spokesperson Matthew Daily indicated that the way customers interact with their bank is rapidly changing, with many customers now opting for online banking solutions. Recent data reveals that over 124,000 Bank of America customers in the Midlands have utilized online banking within the last 90 days. This shift highlights the growing preference for digital banking services and the decreasing necessity for physical branch visits.
Details regarding the branch closure were formally submitted to federal regulators on June 12, 2025. The decision aligns with an industry-wide trend, as evidenced by TD Bank’s recent announcement to close its downtown branch, demonstrating a similar strategy in response to changing consumer behavior.
From 2019 to mid-2023, U.S. bank branches experienced a decline of 5.6%, driven largely by the rise of online banking and decreased in-person demand accentuated by the COVID-19 pandemic. Bank of America, under the leadership of CEO Brian Moynihan, has taken significant steps to reduce its physical branch presence in recent years, leading U.S. banks in net closures amid ongoing shifts in banking practices.
Despite the closure of the ground-floor branch, Columbia continues to be an important market for Bank of America, which employs over 300 individuals in the region. The bank recognizes the significance of Columbia due to its status as the state capital and the presence of the University of South Carolina, which contributes to a vibrant local economy.
This closure reflects a larger paradigm shift in the banking industry, as institutions adapt to changing consumer preferences and technological advancements. As more customers turn to online services for their banking needs, branches are becoming less central to the banking experience.
In conclusion, while the closure of the Bank of America branch on Gervais St. in May 2026 signifies a notable change in the banking landscape, the availability of alternative locations and the continued operation of the upstairs offices ensure that customer banking needs will still be met in the Columbia area.
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Additional Resources
- Post and Courier: Bank of America to Close Downtown Columbia Branch
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- American Banker: 10 Largest Bank Deals of 2025
- Wikipedia: Bank of America
- Charlotte Observer: Bank of America News
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