Bank of America To Close Pleasant Street Branch
The bank is closing four branches in the state and one is in Malden.
The oldest Bank of America branch in the city will close on Friday, June 22, according to a letter the bank sent to customers this week.
The branch at 46 Pleasant Street, housed in an old-style bank building in Malden Square complete with period sconces at the entranceway, will close at 2 p.m. on that day.
The letter offers no explanation for the closing. However, an article in Saturday's Boston Globe says the bank is closing four of its 270 branches in the state "as part of an effort to streamline its national network of offices, according to regulatory filings." The three other branches that will close are in Ware, Framingham, and Springfield, according to the Globe.
Meanwhile, Bank of America stock surged 22 percent this week, according to Bloomberg News.
The branch on Pleasant Street was the scene of a protest last September when residents accused the bank of neglecting its foreclosed properties in town. That protest occurred just as the Occupy Wall Street movement was taking hold in Manhattan and just before the Occupy movement settled in Dewey Square in Boston.
The bank has one other branch in Malden, in a strip mall at 151 Centre Street.
The letter sent to customers this week ended by saying, "Any person wishing to comment on this proposed banking center closing may file comments with the Licensing Manager, Large Banks, Office of the Comptroller of the Currency, Licensing, 250 E Street SW, Mail Stop 7-13, Washington, D.C. 20219. However, the agency does not have authority to approve or prevent the closure."