The Bank of America branch at the Mall at Lincoln Station.
Editor’s note: this story was updated on November 10, 2025.
Lincoln’s Bank of America customers received emails on Friday that the town’s branch would close in March 2026.
The email didn’t say why the move was being made but said those who have a safe deposit box at this location will receive a separate letter with instructions about how to close the box and collect your personal belongings. Jennings Rainey, Vice President/Consumer Banking Market Leader for the Middlesex Market, referred questions to the bank’s corporate media office, which did not return an email from the Lincoln Squirrel on Friday.
Geoff McGean, executive director of the Rural land Foundation, the mall’s owner, said Bank of America had an option to renew their lease starting in April 2026 and notified the RLF that they would decline it.
“BoA has been a valued tenant at Lincoln Station for 25 years,” McGean said. “The decision to leave was made exclusively by BoA and was a surprise to RLF. The employees at the bank have cited a lack of activity as being the reason for the closure but that is all we have been told at this time.” The RLF is actively in discussions with other potential banks to replace [Bank of America],” he added.
“I think we as a community need to look broadly at the state of retail/banks in particular and ask ourselves to really lean in and support this town in all ways possible,” said Andrew Stevenson, RLF’s board chair. “It is more important than ever that we show all local companies support and shop at them to make sure they see a viable future in Lincoln, whether they be stores at Lincoln Station or any local vendor.”
Voters approved zoning changes in December 2023 that, among other things, would allow the mall to be redeveloped as a two-story building with housing on the second floor, a project that will inconvenience the current commercial tenants in the short term. The RLF has been in discussions for some time with Civico about ideas whereby the company would redevelop the mall while adding a second and third floor for multifamily housing as stipulated in the Housing Choice Act. However, neither Civico nor any other developer have made “additional progress on drawing up proposals for redeveloping the mall,” McGean said.
A branch of the Cambridge Trust Co., which was located across Lincoln Road from the Bank of America, closed its doors in 2016.
I believe this would be a loss to our community in general and would damage the viability of our “commercial center.”