Martin Luther King, Jr. Day became a federal holiday in 1986 after President Ronald Reagan signed the holiday into law in 1983.
By 1991, all states also made MLK Day a state holiday.
Martin Luther King, Jr. Day is observed on the third Monday in January to celebrate Martin Luther King, Jr.’s birthday which occurs on January 15.
In 2020, the third Monday in January falls on January 20.
Below is a list of banks that are closed on MLK Day, Monday, January 20, 2020.
Most banks will be closed on Martin Luther King, Jr. Day because it is a federal holiday and the Federal Reserve Bank is closed on MLK Day 2020.
But it is always best that you call ahead to the local bank branch near you to be sure that they are closed or open on MLK Day 2020.
Also, because Martin Luther King, Jr. Day is a federal holiday, this can delay when bank deposits are credited to your account, depending on your bank’s holiday deposit schedule.
This includes deposits made by customers, payroll deposits, and other direct deposits such as Supplemental Security Income (SSI) deposits that will be made on Martin Luther King, Jr. Day, Monday, January 20, 2020, but may not be credited to some bank accounts until January 21, 2020, or later.
Most banks will be closed on Martin Luther King, Jr. Day, Monday, January 20, 2020, including Ally Bank, Bank of America, Capital One, Chase Bank, CitiBank, Fifth Third Bank, HSBC, Huntington National Bank, PNC Bank, Regions Banks, SunTrust Bank, TD Bank, and Wells Fargo.