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Financial & Banking sector holidays in the United States in March 2023

Mar 3, 2023
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In the United States, there are several bank holidays throughout the year. Bank holidays are days on which banks and financial institutions are closed, and many businesses and government offices may also be closed or operate on reduced hours. One of the upcoming bank holidays in the US is in March.

The bank holiday in March is called “Presidents’ Day” and is observed on the third Monday of the month. This year, Presidents’ Day falls on March 20th. The holiday was originally established in 1885 to honor the birthday of the first US President, George Washington, which falls on February 22nd. In 1971, the holiday was moved to the third Monday in February and expanded to include all past US Presidents.

Presidents’ Day is a federal holiday, which means that all federal offices, including post offices and courthouses, are closed. Many state and local government offices, as well as schools and universities, also close for the day. However, not all businesses close for Presidents’ Day, and some may operate on normal or reduced hours.

In addition to Presidents’ Day, there are two other bank holidays in March that are observed by some states: St. Patrick’s Day and Cesar Chavez Day.

St. Patrick’s Day, which is celebrated on March 17th, is a cultural and religious holiday that commemorates the patron saint of Ireland. While it is not a federal holiday, it is observed as a public holiday in some states, such as Massachusetts and New York. Many businesses may choose to close or operate on reduced hours, particularly in areas with large Irish-American populations.

Cesar Chavez Day is a state holiday in California, observed on March 31st. It honors the civil rights leader and labor organizer who co-founded the United Farm Workers union. In addition to government offices and schools, many businesses in California may close or operate on reduced hours for the holiday.

It’s worth noting that some banks may choose to remain open on these holidays, particularly if they are located in areas where the holiday is not widely observed. If you need to conduct banking transactions on a bank holiday, it’s always a good idea to check with your local bank branch to confirm their hours of operation.

In conclusion, March is a month with several bank holidays in the US. While Presidents’ Day is a federal holiday observed throughout the country, St. Patrick’s Day and Cesar Chavez Day are observed in select states. Whether or not businesses and banks close on these holidays may vary depending on location and industry, so it’s important to check with your local branch to confirm their hours of operation.

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