Every year, Veterans Day presents the opportunity to thank those who served in the United States Armed Forces.
Unlike Memorial Day which honors only fallen veterans, the holiday celebrates “ALL those who served honorably in the military – in wartime or peacetime,” according to the U.S. Department of Veteran Affairs.
For most of its history, Veterans Day has been on its current date of November 11 to commemorate the “eleventh hour of the eleventh day of the eleventh month” of 1918 which marked the end of World War I, History.com explained. Originally known as Armistice Day, former President Dwight D. Eisenhower officially changed the name in 1954.
But federal holidays also often usher in business closures so employees can celebrate and honor appropriately. Since November 11 falls on a Thursday this year, many are left to wonder if financial institutions such as banks and the stock market are closed mid-week. Here is what you need to know:
Most Banks Are Closed on Veterans Day
Banks are typically open on Thursdays, with Policygenius reporting the average bank opens between 8 and 9 a.m. and closes between 4 and 6 p.m.
According to Insider, federal holidays disrupt that schedule with most financial institutions across the country following the Federal Reserve System’s schedule of observed holidays. In addition to Veterans Day, that schedule includes New Year’s Day, Birthday of Martin Luther King, Jr., Washington’s Birthday, Memorial Day, Juneteenth National Independence Day, Independence Day, Labor Day, Columbus Day (Indigenous People’s Day is often observed in its place), Thanksgiving Day and Christmas Day.
This year is no different. The following list of banks, most reported by Newsweek, will be closed in observance. Online banking remains largely open and many call centers are still running. Click on your bank for exact details:
- Ameris Bank
- Bank of America
- California Bank & Trust
- Columbia Bank
- F&M Bank
- Farmers & Merchants Bank
- First Citizens Bank
- First Commonwealth Bank
- First Merchants Bank
- Great Western Bank
- Kitsap Bank
- M&T Bank
- NBT Bank
- Peoples Bank
- Santander Bank
- TD Bank
- The Dime Bank
- Wells Fargo
- Westfield Bank
- WSFS Bank
- Zions Bank
Some branches and private banks observe a different schedule. If you have any questions, verify with your local bank.
The Stock Market Is Open on Veterans Day
Banks may be closed, but that is not true for the stock market. It is “open for a full day of trading,” according to NASDAQ. On November 11, 2021, the stock market will open at 9:30 a.m. and close at 4 p.m. Eastern, USA Today reported.
The stock market remains open during another commonly observed bank holiday – Columbus Day. Celebrating Indigenous People’s Day in its place is becoming more widespread.
According to the New York Stock Exchange’s website, there is a list of 10 holidays observed in all markets. Those include New Year’s Day, Martin Luther King, Jr. Day, Washington’s Birthday, Good Friday, Memorial Day, Juneteenth National Independence Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day.
The day after Thanksgiving, more colloquially known as Black Friday, is partially observed. This year, markets will close early on Friday, November 26, 2021, at 1 p.m.