Big Bay State Bank Plans To Close Last Branch In Woburn

WOBURN, MA — The Woburn branch of a multinational bank plans to close soon, regulators say.

Santander Bank intends to shutter its location in a shopping center at 2A Elm St., according to a March 30 filing with the federal Office of the Comptroller of the Currency.

The site is Santander’s only branch in Woburn, although there are ATMs here and several branches in nearby communities.

The bank is the third-largest in Massachusetts, with over 120 branches across the state and $33.2 billion in deposits, according to federal data.

But Santander has been cutting back on bricks-and-mortar in recent years as customers do more online banking. Last summer, Santander closed a branch at 19 Pleasant St. in Woburn Square, and five other Massachusetts branches also shut down.

Santander is part of Spanish financial conglomerate Santander Group, which has its U.S. headquarters in Boston.

There’s no information on when the Woburn branch might end operations. Big banks like Santander must notify the comptroller’s office when they plan closures and other changes, and the agency typically responds within a few months.

The Santander branch, just off Exit 53 of Interstate 95/Route 128, is next door to a Stop & Shop supermarket – which houses a branch of Citizens Bank, the second-largest lender in Massachusetts.