Truist gains regulatory approval to close Jamestown branch

Truist Financial Corp. has gained approval from its regulator, the N.C. Commissioners of Banks, to close its Jamestown branch location at 120 W. Main St.

The last day of business is set for July 28, the bank said Friday.

It is one of 15 approved branch closings listed for the bank that also includes a location at 3231 Avent Ferry Road in Raleigh.

Truist has 10 branches in Greensboro, along with eight in Winston-Salem when counting a drive-thru branch in downtown.

There also are four in High Point, two in Burlington, Kernersville and Lexington, and one each in Asheboro, Bermuda Run, Boone, Clemmons, Eden, Elkin, Graham, King, Lewisville, Liberty, Madison, Mebane, Mocksville, Mount Airy, Oak Ridge, Pilot Mountain, Reidsville, Sparta, Thomasville, Wilkesboro and Yadkinville.

The branch closing initiative comes as Truist announced in August plans to reinforce its presence in nine key metro markets, including its Charlotte headquarters, by adding 100 high-tech branches over the next five years.

The other markets are Atlanta, Austin, Texas, Dallas, Miami, Orlando, Fla., Philadelphia, and Washington, D.C.

Truist also plans to renovate more than 300 branches "in high-opportunity markets" that involves enhancing artificial-intelligence and digital capabilities and hiring additional customer advisers.

Winston-Salem, the former headquarters campus of BB&T Corp. until December 2019, and the Triad are not on the priority list for either branch initiative.

As of Dec. 31, Truist listed 1,927 branches, down one over the past 12 months.

However, the branch network has shrunk from more than 2,900 in December 2019, which met the cost-savings initiative goal of closing 800 branches by March 31, 2022, as part of BB&T's $33.4 billion purchase of SunTrust Banks Inc.

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