Patriots’ Day commemorates the battle that led to the birth of the United States as a new nation. This holiday is celebrated each year on the third Monday of April to commemorate April 19, 1775. The day marks when the battles of Lexington and Concord began and the American Revolution officially started. Patriots’ Day falls on and is celebrated Monday, April 19, 2021 this year.
See below to learn more about the status of banks on Patriots’ Day 2021.
Is Patriots Day a Bank Holiday?
Patriots’ Day is not a national holiday, but it is a state holiday recognized in Massachusetts, Maine and Wisconsin. Residents of these states can enjoy local reenactments of American Revolution battles on Patriots’ Day, as well as parades in Lexington and Concord. In Massachusetts, Patriots’ Day occurs during the Boston Marathon– and the annual remembrance of the tragic Boston Marathon bombing in 2013.
While this holiday marks a significant event in American history, is it considered a bank holiday? Bank holidays are days that the Federal Reserve Bank recognizes by closing. Typically, banks nationwide will close their doors on bank holidays to give employees time off and since capabilities are limited without the backing of the Federal Reserve Bank. However, the Federal Reserve Bank tends to only include federal holidays on its list of bank holidays.
Banks Are Open on Patriots’ Day
Patriots’ Day is not considered to be a bank holiday since it is a state holiday and not a federal holiday. As a result of Patriots’ Day not being considered a bank holiday, most banks will remain open on Patriots’ Day and follow their regularly scheduled hours.
It should be noted that for residents in Massachusetts and Maine, Patriots’ Day is a public holiday in their states. While most banks in these states are likely to be open, some banks and credit unions might still close.
“Generally, Massachusetts banks are open in the Commonwealth on Patriots’ Day, with some exceptions — particularly those along the route of the Boston Marathon,” states Daniel J. Forte. Forte is former president and CEO of the Massachusetts Bankers Association. “Customers should check with their local institutions and branches to be certain.”
Post Offices and Stock Markets Open on Patriots’ Day
Not only are banks open on Patriots’ Day, both the Nasdaq and the New York Stock Exchange remain open for normal trading. The next holiday when U.S. stock market are expected to close will be Memorial Day on May 31.