Patriots' Day, observed on the third Monday in April, is a state holiday in Massachusetts and Maine. It is not a federal holiday and, consequently, is not recognized as an official banking holiday by the U.S. Federal Reserve System.
The distinction between federal and state holidays is the determining factor for bank operations. Federal holidays result in the closure of Federal Reserve Banks, which leads to the closure of most financial institutions nationwide. Because Patriots' Day is a state-level observance, the Federal Reserve System remains open. As a result, the majority of banks across the country, including many national bank branches located within Massachusetts and Maine, conduct business as usual to align with the national financial markets and payment systems.
In practical terms, this means that nationwide electronic transactions, such as wire transfers and ACH payments, are processed without delay. However, some smaller, state-chartered banks or local credit unions in the observing states may choose to close. Therefore, individuals in Massachusetts and Maine should verify the operating hours of their specific financial institution for that day, while banking services for the rest of the country remain unaffected.
