Sunday, July 14, 2024

114 West Elm Street
Graham, NC 27253
Ph: 336.228.7851

Bank of America to close Graham branch early next year

Bank of America has announced that it intends to close its Graham branch at 141 South Main Street early next year.

An announcement posted on the company’s website states the Graham branch will permanently close April 9, 2024.

The planned branch closure in Graham also represents a continuation in the trend toward consolidation of branches amid an uptick in online banking that has been widely attributed to changes in consumer habits brought on by Covid-19 pandemic.

The closure of the Graham branch follows more than 100 Bank of America branches – including three in North Carolina – across the U.S. that the Charlotte-based bank planned to close this year, the Charlotte Business Journal reported late last month. Bank of America officials reportedly have said they plan to close 138 branches in 2024.

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The pending closure of Bank of America’s Graham branch will leave just one traditional brick-and-mortar Bank of America branch in Alamance County, along Glidewell Drive in Burlington, along with two of its ATMs in Burlington.

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The 5,329-square foot historic building that currently houses the bank at 141 South Main Street in Graham dates back to 1878 and has a current assessed tax value of more than $1.1 million, according to Alamance County tax records. The property also includes less than an acre of land on which the Graham branch is situated, which has an assessed tax value of $25,910.

NationsBank originally purchased the property at 141 South Main Street in Graham for $190,000 in May 1993, according to documents on file with Alamance County’s Register of Deeds. NationsBank and Bank of America later merged in 1998.

Catherine Page, a spokesperson for Bank of America’s North Carolina market, confirmed the planned closure in an email Wednesday night, but said that the ATM outside the Graham branch will remain in place for more than a year, adding that the Burlington branch is located six miles away.

“Financial centers still remain core to our business and we’re in the process of modernizing every center in the Triad and across the country,” Page elaborated in her email response to an Alamance News inquiry. “Additionally, and increasingly, our clients are using digital banking for their everyday financial needs…Within North Carolina’s Triad region more than 181,000 of our clients are digitally active. To better serve our clients and in response to this change in how our clients bank with us, we are adjusting our financial center network where centers are close together, or where client traffic has diminished significantly.”


Editor’s Note: An earlier version of this story, and the print edition, included the wrong date for the construction of the home.  It was built in 1878.

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