Bank of America to close Broad St. branch in favor of new spot up the street

Bank of America to close Broad St. branch in favor of new spot up the street

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Bank of America is doing a branch swap in the city of Richmond.

The banking giant plans to close its long-standing location at 2601 W. Broad St. in favor of a new center it has in the works less than a mile away at 1600 W. Broad St.

The new branch would be located on the ground floor of the 12-story Ascend RVA apartment tower and is expected to open in December.

A sign on the door at the 2601 W. Broad location states that it is expected to close Dec. 5 at 2 p.m. The new location would then open on the morning of Dec. 8.

The branch at 2601 W. Broad is an important one locally for Bank of America, as it houses $31 billion of the bank’s $34 billion in local deposits, according to FDIC data.

Those deposits would likely be shifted to the new location, j

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