Local Bank Looks To Close A Stamford Branch: Report

STAMFORD, CT — First County Bank is looking to close one of its seven branches in Stamford, according to CT Insider.

CT Insider reported that the bank has notified Connecticut banking regulators about its desire to close the branch located at 275 Hope St. If approved, the closure would take place on March 1.

First County Bank is an independent, mutual community bank that operates exclusively in Fairfield County. There are currently 14 branches in Darien, Fairfield, Greenwich, New Canaan, Norwalk, Stamford and Westport, the bank's website says.

There has been a growing number of bank branches closing across Connecticut over the past few years as people have moved more toward online banking.

Wells Fargo announced plans earlier this year to close branches in Danbury, Darien, Monroe and Waterbury. Webster Bank said in March it would close its Old Saybrook location, and The Milford Bank said it would close a branch this fall.

In 2022, it was announced that seven People's United-M&T Bank branches inside Stop & Shop Supermarkets would close.

A January 2022 Patch report noted that a trend toward online banking during the COVID-19 pandemic led to a 38 percent spike in retail bank branch closings across the country in 2021. Connecticut saw a net loss of 59 banks in 2021.

In September, it was reported that Bank of America was planning on closing one of its Stamford branch locations, Hartford Business Journal said.

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