M&T Bank announced Friday it is closing several branches at Stop & Shop stores across Connecticut.
The New York-based bank, with 155 bank branches and ATMs across the state, said it will wind down operations at eight branch locations within Stop & Shop stores by the end of April, according to a spokesperson with M&T Bank.
The Stop & Shop branches located at 2331 Dixwell Ave. in Hamden, 489 Bushy Hill Road in Simsbury, 200 E. Main St. in Stratford, and 50 Windsorville Road in Vernon are all scheduled to close on April 16, according to the company. The other locations are scheduled to close on April 30, including Stop & Shop branches at 4531 Main St. in Bridgeport, 1364 E. Town Road in Milford, 1790 Post Road East in Westport, and 5 River Road in Wilton.
M&T Bank said the impacted locations will be replaced with standalone ATMs.
Two other branch locations at 931 Torringford St. in Torrington and 410 Reidville Drive in Waterbury are also impacted, bank officials said. But a spokesperson with the company said M&T has leases for new branch locations in both Torrington and Waterbury.
“As the needs of our customers continue to evolve, we are committed to adapting our branch network to best serve our communities,” a M&T Bank spokesperson said in a statement. “Our dedication to our colleagues, customers and communities in Connecticut remains unwavering, and we have every confidence that by investing in new branches, we will deliver best-in-class advice and guidance that more closely aligns with the needs of those we serve.”
M&T Bank said it regularly reviews its branch network and assesses against several factors to determine where its ability to provide best-in-class advice and guidance most closely aligns with the needs of communities.
“We are working hard to increase the number of individual, stand-alone and full service branches in the state. For example, the Torrington and Waterbury S&S locations already have new leases in new stand-alone spaces,” according to a spokesperson.
The branch closings will not result in any layoffs because employees at the affected branches will be offered positions at other branches, according to M&T Bank. Statewide, about 2,100 people work for M&T Bank, which has the third-highest amount of in-state deposits, according to its website. M&T Bank merged with the former People’s United Bank in 2022.
Stephen Underwood can be reached at [email protected].