Fulton to close 16 Philly-area branches following Republic First Bank deal

Lancaster-based Fulton Bank says it is closing 16 Philadelphia-area branches later this year following the April acquisition of the failed Republic First Bank.

The 16 financial centers are set to close on or about November 22, the bank announced in an SEC filing last week.

(The video in the player above is from previous coverage.)

SEE ALSO: Regulators close Philadelphia-based Republic First Bank, first US bank failure this year

"While it's never easy to close one of our financial centers, it's sometimes necessary after we evaluate factors including overlapping service areas and trends in how customers conduct their banking," a spokesperson for Fulton Bank said.

The following branches will be impacted:

• 2100 Street Road / Bensalem, Pa.

• 1701 John F Kennedy Blvd / Center City Philadelphia

• 1220 N. Broad Street / Philadelphia

• 8000 Frankford Avenue / Philadelphia

• 212 East Lancaster Ave. / Wayne, PA

• 1460 East Route 70 / Cherry Hill, NJ

• 514 North Kings Highway / Cherry Hill, NJ

• 1302 Route 38 / Hainesport, NJ

• 195 N Greentree Rd / Marlton, NJ

• 153 Bridgeton Pike / Mullica Hill, NJ

• 178 East Greentree Road / Marlton, NJ

• 1101 Tilton Road / Northfield, NJ

• 201 East 9th Street / Ocean City, NJ

• 303 Egg Harbor Rd / Sewell, NJ

• 6 Haddonfield-Berlin Road / Voorhees, NJ

• 201 N Rt 73 / West Berlin, NJ

Additionally, the former Republic Bank financial center located at 1601 Walnut Street in Philadelphia will also not reopen. It was closed due to a water main break after sustaining significant damage.

Fulton is in the process of notifying customers and helping to migrate current employees to new roles or openings.

Back in April, regulators closed Republic First Ban k, a regional lender operating in Pennsylvania, New Jersey and New York.

Fulton acquired Republic's 32 branches as part of the deal.

"Consolidations like these enable us to operate more efficiently and invest in new financial services, while maintaining a network of financial centers where we meet with customers, listen and understand their needs, and recommend the best financial solutions for them," a spokesperson added.

After these consolidations, Fulton Bank will have about 60 financial centers in greater Philadelphia and South Jersey.