| July 30
July 30 Bank of America Corp is removing
ATMs from two grocery store chains in the U.S. Southeast as it
continues to trim its retail banking operations.
The second-largest U.S. bank has been pulling machines from
Harris Teeter Supermarkets Inc and Bi-Lo LLC locations
last month and this month, Bank of America spokeswoman Tara
Burke said on Monday.
The bank is focusing on offering customers full-service
automated teller machines that have 24-hour access and expects
to add more machines in the future, Burke said. Some of the
grocery store locations weren't open 24 hours a day, and some of
the ATMs didn't allow deposits.
The bank is removing 36 ATMs from Harris Teeter stores and
25 from Bi-Lo locations. The bank's ATM count was 16,220 at the
end of June, down 9 percent from a year earlier, according to
its most recent earnings report.
Bank of America last week said it had exited Valero Energy
Corp convenience stores and Simon Property Group Inc
mall locations, contributing to the decline in its ATM
Bank of America Chief Executive Brian Moynihan has been
cutting branches and jobs in the bank's signature consumer
banking unit as new regulations and low interest rates crimp
revenue. The unit had $7.3 billion in revenue in the second
quarter, down from $8.7 billion a year earlier.
The bank has previously said it plans to close or sell about
750 branches over the next few years. Its total branches have
dropped nearly 3 percent to 5,594 over the past year.
PNC Financial Services Inc is picking up some of the
ATM locations shed by Bank of America. The regional lender on
Monday said it was deploying 191 ATMs in Harris Teeter stores in
North Carolina, South Carolina, Florida, Georgia, Virginia,
Maryland and Delaware between mid-July and early September.
Pittsburgh-based PNC entered the U.S. Southeast with its
March 2012 purchase of Royal Bank of Canada's U.S.
subsidiary. It has more than 7,100 ATMs.