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January 21, 2025

Major money center bank lists New Haven branch property for sale, eyes office closure

COSTAR Santander Bank’s New Haven branch at 215 Grand Ave., is slated for closure.

Santander Bank, which has cut by more than half its branch footprint in Connecticut over the last decade, told a federal regulator that it plans to shutter a branch in New Haven.

The subsidiary of Spain-based Banco Santander has informed the federal Office of the Comptroller of the Currency that it plans to close a branch at 215 Grand Ave., in New Haven. 

The branch held $15.4 million in deposits as of June 30, 2024, according to Federal Deposit Insurance Corp. data.

In addition, the bank has listed the 12,292-square-foot Grand Avenue property for sale for $2.5 million, according to listing site LoopNet. 

The bank has another New Haven branch, at 123 Church St., according to the FDIC. 

Santander Bank, with $101.7 billion in assets, had 15 branches and $1.85 billion in deposits in Connecticut as of June 30, 2024, FDIC data shows.

That’s down from 32 branches in the state a decade ago, as of June 30, 2014. The bank’s Connecticut deposits since 2014, however, are up from $1.44 billion, FDIC data shows. 

Santander announced a West Hartford branch closure last year. 

https://www.hartfordbusiness.com/article/international-bank-eyes-west-hartford-branch-closure
 

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