U.S. Bank Holidays and Observances: Your Comprehensive Guide

Each year, the Federal Reserve System  releases an official schedule of 11 U.S. bank holidays. On these days, Federal Reserve Banks, government offices, and most private banks are closed in observance of national events.

While the United States observes many cultural and state holidays, only a limited number are official federal holidays—days when the Board of Governors is closed and financial processing may be delayed

Knowing when Federal Reserve offices are closed—and how weekend holidays are observed on Mondays—is essential for businesses that rely on consistent cash flow.

This guide highlights major U.S. holidays such as Martin Luther King Jr. Day, Inauguration Day, and other widely recognized observances.

We’ll also cover how these federal, religious, or cultural observances can affect everything from bank closures to private business operations across the U.S.

What Happens When Federal Reserve Banks Are Closed

Bank closures can slow deposits from crediting to your account and make it impossible to obtain working capital, creating problems with everything from inventory to payroll. Keeping track of U.S. bank holidays is essential to ensure you have enough cash on hand.

It’s also a good idea to keep track of holidays even if they don’t impact the services you can access, as they can still influence cash flow.

Complete List of Federal Reserve Holidays

Technically speaking, the U.S. doesn’t have “bank holidays.” There aren’t any days that businesses or banks are required to close. However, there are federal holidays. Federal employees, including Federal Reserve Bank employees, receive the day off, and offices close. Most other banks follow suit because they rely on the Federal Reserve Bank. The days on which this occurs are:

• New Year’s Day
• Martin Luther King Jr. Day
• Washington’s Birthday
• Memorial Day
• Juneteenth
• Independence Day
• Labor Day
• Columbus Day
• Veterans Day
• Thanksgiving
• Christmas

U.S. Bank Holidays and Other Observances

Now that we’ve covered the background, let’s dig into some of the biggest holidays in America, why they’re celebrated, and whether banks usually close on them.

New Year’s Day (Federal Holiday – Banks Closed)

Fixed Holiday: January 1

Few people realize this, but there were initially only four federal holidays, congressional reports show. New Year’s Day was one of them, with the others being Independence Day, Thanksgiving Day, and Christmas Day. These federal holidays were established in 1870 and only applied to the federal workforce in Washington, D.C., as the government was wary of imposing its will on the states. Today, federal holidays apply to most federal employees across the country. Most states have adopted them, too. However, businesses can still choose whether to observe the day.

With this in mind, virtually all government offices and businesses are closed on New Year’s Day. Some people use the day to sleep in after ringing in the new year, while traditionalists may indulge in a large meal or spend time with friends and family. It is a fixed holiday, so it’s always celebrated on January 1. However, if the first day of the year falls on a Saturday, workers will generally get the Friday before it off. If the day falls on a Sunday, workers will usually receive Monday off instead.

As New York City hosts one of the most iconic New Year’s celebrations, New York factoring companies play a crucial role in supporting the bustling businesses that flourish during this festive season.

Martin Luther King Jr. Day (Federal Holiday – Banks Closed)

Floating Holiday: Third Monday of January 

• January 15, 2024
• January 20, 2025
• January 19, 2026
• January 18, 2027
• January 17, 2028

Martin Luther King Jr. Day, often shortened to MLK Day, is held in honor of King and his efforts to end racial injustice. It’s observed on the Monday closest to King’s birthday and is a federal holiday, so most banks are closed.

Martin Luther King Jr. Day holds deep significance in Georgia, particularly in Atlanta, where Dr. King was born and much of his civil rights activism took place. Georgia factoring companies acknowledge this day by aligning their services with the local observances, reflecting on King’s legacy and its impact on the community and businesses in the state.

Valentine’s Day (General Holiday – Banks Open/ Follow Normal Schedule)

Fixed Holiday: February 14

Named in honor of St. Valentine, a martyred priest from Ancient Rome who was imprisoned and sent the jailor’s daughter letters signed “from your Valentine,” the meaning of Valentine’s Day has shifted over the years. It has been a day for couples, then expanded into a day to celebrate all loved ones. Today, it’s held in tandem with Singles Awareness Day.

Valentine’s Day is not a federal holiday, so banks follow their normal schedule. Many businesses will see an uptick in sales on the holiday and leading up to it, though.

Valentine’s Day, widely celebrated for romance and affection, resonates particularly in California, home to a vibrant mix of cultures and a booming retail and hospitality industry. California factoring companies play a significant role during this holiday, assisting local businesses in managing the increased financial transactions that accompany the surge in Valentine’s Day sales and events.

Washington’s Birthday (Federal Holiday – Banks Closed)

Floating Holiday: Third Monday of February

• February 19, 2024
• February 17, 2025
• February 16, 2026
• February 15, 2027
• February 21, 2028

Although people often refer to the February holiday as “President’s Day,” it’s still officially Washington’s Birthday. It’s observed on the third Monday of February, which is close to Washington’s and Lincoln’s birthdays. Washington’s Birthday is one of the 12 federal holidays, so banks and most businesses are closed.

Washington’s Birthday, often referred to as Presidents’ Day, is a federal holiday particularly resonant in Virginia, the birthplace of George Washington. Virginia factoring companies recognize the significance of this day, reflecting the state’s deep historical roots in the founding of the United States. They adapt their services to accommodate the holiday’s observances, supporting local businesses during this national remembrance and celebration period

Ramadan (Religious Holiday – Banks Open/ Follow Normal Schedule)

Floating Holiday: Ninth Month of the Islamic Calendar

• March 10 – April 29, 2024
• March 1 – March 30, 2025
• February 18 – March 19, 2026
• February 8 – March 9, 2027
• January 28 – February 26, 2028

Ramadan is a month-long Islamic holiday. It’s dedicated to spiritual growth, so those who observe it fast from sunup to sundown tend to worship more and often engage in charitable activities. Banks operate under their regular schedule during this time. However, businesses with a customer base that’s largely Muslim may see shifts in customer behavior, such as less daytime activity while people fast.

During Ramadan, a significant time for spiritual reflection and fasting in the Islamic community, Michigan factoring companies are particularly mindful of the needs of businesses in areas with a substantial Muslim population, such as Dearborn. They ensure that financial services are attuned to the altered business patterns during this month, helping local businesses adapt to the unique demands and timings associated with Ramadan.

St. Patrick’s Day (General Holiday – Banks Open/ Follow Normal Schedule)

Fixed Holiday: March 17

Although St. Patrick’s Day has religious roots, it’s mostly treated as a day to celebrate Irish culture in the United States today. People often wear green, go to parades, and attend parties. Banks keep their normal schedules.

Pennsylvania, with its rich Irish-American heritage and lively St. Patrick’s Day celebrations, sees Pennsylvania factoring companies playing a key role. These companies provide essential financial support to local businesses, especially in cities like Philadelphia, where St. Patrick’s Day festivities significantly boost commerce in sectors like hospitality and retail.

Holi (Religious Holiday – Banks Open/ Follow Normal Schedule)

Floating Holiday: Last Full Moon Day of the Lunisolar Calendar

• March 25, 2024
• March 14, 2025
• March 3, 2026
• March 22, 2027
• March 11, 2028

Known as the Festival of Colors, the Hindu holiday Holi marks the start of spring and celebrates the triumph of good over evil. Businesses and banks across the country keep their normal schedule.

Holi, the vibrant Festival of Colors celebrated by the Hindu community, has a special significance in New Jersey, home to a large and vibrant South Asian population. New Jersey factoring companies recognize this cultural celebration, providing tailored financial services to businesses that cater to the increased activities and festivities during Holi. These companies play a crucial role in supporting the unique needs of local businesses during this significant cultural event.

Easter (Religious Holiday – Banks Open/ Follow Normal Schedule)

Floating Holiday: First Sunday After the Spring Equinox

• March 31, 2024
• April 20, 2025
• April 5, 2026
• March 28, 2027
• April 16, 2028

Easter falls on a Sunday when banks are traditionally closed, and the holiday does not usually influence whether businesses are open. People often spend the day at church and have a meal with their families. There are also lots of family-friendly activities, such as Easter egg hunts. Some businesses, such as retailers, may see an uptick in business leading up to the day.

In Louisiana, known for its vibrant community celebrations and cultural diversity, Easter is observed with unique traditions and festivities. Louisiana factoring companies are attuned to this holiday’s impact on local businesses, particularly those in the hospitality and retail sectors that experience a surge in activity. They provide vital financial support during this period, ensuring businesses can effectively manage the increased demand and cash flow challenges associated with Easter celebrations.

Tax Day (Observance – Banks Open/ Follow Normal Schedule)

Fixed Observance: April 15

As a business owner, your taxes should be taken care of long before the April 15 deadline. However, many businesses leverage the data to boost sales by offering discounts for those who spend their tax returns with them. Some even have tax preparers on-site. Aside from this, there’s little other fanfare on the day or leading up to it, and it doesn’t usually impact business or banking hours.

On Tax Day, a crucial date for businesses managing their financial responsibilities, Washington factoring companies become particularly important. In Washington, a hub for a diverse range of businesses, these companies provide essential financial services to help local enterprises navigate the complexities of tax season, ensuring they maintain healthy cash flow and financial stability during this critical annual observance.

Cinco De Mayo (General Holiday – Banks Open/ Follow Normal Schedule)

Fixed Holiday: May 5

Cinco de Mayo is “Fifth of May” in Spanish. It’s a Mexican holiday that celebrates the country’s victory over France in 1862, though it’s treated as a celebration of Mexican culture in America. Block parties, complete with mariachis and street food, are popular. Banks and businesses keep their regular hours.

Cinco De Mayo, a celebration of Mexican heritage and pride, holds particular significance in Texas due to its strong historical and cultural connections with Mexico. Texas factoring companies understand the importance of this holiday for local businesses, especially those in the retail and hospitality sectors. They offer specialized financial services to help these businesses maximize their opportunities during the vibrant festivities and increased customer activity associated with Cinco De Mayo.

Mother’s Day (General Holiday – Banks Open/ Follow Normal Schedule)

Floating Holiday: Second Sunday of May

• May 12, 2024
• May 11, 2025
• May 10, 2026
• May 9, 2027
• May 14, 2028

Mother’s Day is on a Sunday and is not a federal holiday, so it doesn’t impact banking or business hours. However, some companies, especially those specializing in gifts, food, or entertainment, may need to ramp up to prepare for an influx of business.

Mother’s Day, a significant day for celebrating mothers and maternal figures, sees heightened activity in Florida, known for its vibrant communities and family-oriented culture. Florida factoring companies play an essential role during this holiday, offering financial solutions to businesses, particularly in the retail and service industries, that experience increased demand for products and services as people celebrate and honor the mothers in their lives.

Memorial Day (Federal Holiday – Banks Closed)

Floating Holiday: Last Monday of May

• May 27, 2024
• May 26, 2025
• May 25, 2026
• May 31, 2027
• May 29, 2028

Memorial Day is observed on the last Monday in May and is a federal holiday, so banks are usually closed. The holiday was established to pay tribute to those who have died serving in the United States Military, so there are often patriotic celebrations and parades. However, it’s also considered the unofficial start to summer, so many people head outdoors and have barbeques.

On Memorial Day, a day to honor military service members who have passed, Ohio factoring companies play a significant role. Ohio, with its rich history of military service and numerous veterans, observes this day with great reverence. Local factoring companies offer supportive financial services to businesses, particularly those in communities with a strong veteran presence, ensuring they can participate in Memorial Day commemorations while maintaining effective business operations.

Father’s Day (General Holiday – Banks Open/ Follow Normal Schedule)

Floating Holiday: Third Sunday in June

• June 16, 2024
• June 15, 2025
• June 21, 2026
• June 20, 2027
• June 18, 2028

Like Mother’s Day, Father’s Day is on a Sunday and is not a federal holiday, so it doesn’t impact banking or business hours either. However, certain companies will see an influx of business as people celebrate the dads in their lives.

In Illinois, where family-oriented celebrations are a cornerstone of the community, Father’s Day is a notable occasion. Illinois factoring companies play a key role during this holiday, providing financial support to businesses that see an increase in demand, particularly in retail and leisure sectors. These companies help local businesses in Illinois make the most of the increased commercial activity associated with Father’s Day.

Juneteenth (Federal Holiday – Banks Closed)

Fixed Holiday: June 19

Juneteenth was declared a federal holiday in 2021, though parts of the country began celebrating it in the 1800s. Although Lincoln had already signed the Emancipation Proclamation and declared enslaved people free in 1863, slavery continued in several Confederate states. Juneteenth, formerly known as Emancipation Day, commemorates the day federal troops arrived in Galveston, Texas, took control of the state, and freed enslaved people there. The formerly enslaved people celebrated with food, singing, dancing, and prayer, which are all now part of modern celebrations.

 Because Juneteenth is a federal holiday, banks and federal government agencies are closed. However, not all states observe the holiday. Because the date is fixed and the holiday is celebrated on June 19 each year, the observed date may move to Friday or Monday if the 19th falls on a weekend.

Juneteenth, a day marking the emancipation of enslaved people in the U.S., resonates deeply in North Carolina, a state with a rich African American heritage. North Carolina factoring companies understand the cultural and historical significance of this holiday. They offer specialized support to businesses, particularly those engaged in Juneteenth celebrations and events, ensuring that financial operations run smoothly during this important period of commemoration and reflection.

Independence Day (Federal Holiday – Banks Closed)

Fixed Holiday: July 4

Independence Day, observed every year on July 4th, is one of the original four federal holidays. Banks and many businesses close for the day. It may be observed on the Friday before if it falls on a Saturday or the Monday after if it falls on a Sunday. People often spend the day at patriotic celebrations with music, food, and fireworks.

In Missouri, a state with a rich blend of American history and cultural diversity, Independence Day is a time of significant celebration. Missouri factoring companies support a wide range of businesses during this patriotic holiday, from those in bustling city centers to smaller towns. These companies help ensure that businesses across Missouri can effectively manage the surge in festivities and customer traffic associated with the Fourth of July.

Labor Day (Federal Holiday – Banks Closed)

Floating Holiday: First Monday in September

• September 2, 2024
• September 1, 2025
• September 7, 2026
• September 6, 2027
• September 4, 2028

Labor Day is observed on the first Monday in September and is often considered the unofficial end of summer. It’s a day to celebrate workers and acknowledge worker’s rights. Banks are closed, and people often spend the day engaging in outdoor activities such as barbeques and festivals.

Labor Day, as a celebration of the American workforce, is especially significant in Wisconsin, a state with a strong history in manufacturing and labor unions. Wisconsin factoring companies play a vital role during this holiday, offering specialized financial services to local businesses that experience a shift in operations and customer engagement. They ensure that these businesses can effectively handle the Labor Day holiday, supporting the state’s economy and honoring the spirit of the labor movement.

Columbus Day (Federal Holiday – Banks Closed)

Floating Holiday: Second Monday in October

• October 14, 2024
• October 13, 2025
• October 12, 2026
• October 11, 2027
• October 9, 2028

The second Monday in October is a federal holiday, so banks are closed. It’s officially Columbus Day, a day to celebrate Christopher Columbus’ arrival in the Americas in 1492. However, the country is divided on whether this should be celebrated, Pew reports. Many prefer to celebrate Indigenous Peoples’ Day instead due to the hardships early settlers caused for native populations.

In Iowa, Columbus Day is an opportunity for Iowa factoring companies to assist local businesses in preparing for the fall season. These companies provide essential financial services that help businesses in Iowa to adapt to the seasonal shifts in consumer behavior and demands, ensuring they remain financially stable and able to capitalize on any opportunities that arise during this federal holiday.

Halloween (General Holiday – Banks Open/ Follow Normal Schedule)

Fixed Holiday: October 31

Although Halloween is not a federal holiday and banks follow their regular schedules, some businesses will be impacted. Some retailers, for example, will see upticks in sales throughout the month. Younger children usually spend the evening trick-or-treating, while teens and adults hand out candy or attend parties.

In Nevada, Halloween is a festive occasion that often sees an increase in economic activity. Nevada factoring companies play a vital role during this time, helping businesses secure the necessary cash flow to meet the demand for costumes, decorations, and treats. By providing financial support, these companies ensure that local businesses in Nevada can fully participate in the Halloween celebrations and make the most of this spirited holiday.

Veterans Day (Federal Holiday – Banks Closed)

Fixed Holiday: November 11

Veteran’s Day is a federal holiday, so banks are closed. However, because it has a fixed date, the observed date may shift to a day before or after if it falls on a weekend.

Arizona has a strong tradition of honoring its veterans, and Arizona factoring companies recognize the significance of Veterans Day in the state. On this federal holiday, banks are closed in Arizona as a mark of respect for veterans. Factoring companies in Arizona often work closely with businesses that support veterans or are owned by veterans, providing them with the financial resources they need to thrive. It’s a day when the state comes together to recognize and appreciate the sacrifices made by its veterans, and the support of factoring companies plays a role in this meaningful observance.

Diwali (Religious Holiday – Banks Open/ Follow Normal Schedule)

Floating Holiday: 15th day of the Month of Kartika in the Hindu Calendar

• November 1, 2024
• October 21, 2025
• November 6, 2026
• October 29, 2027
• October 17, 2028

The word “Diwali” comes from the Sanskrit word “Deepavali,” which means “line of lamps.” It’s considered the Festival of Lights, or a celebration of the triumph of good over evil, and is celebrated by Hindus, Buddhists, Jains, and Sikhs.

Banks and business operations are not usually impacted by the holiday, though some companies may see an uptick in business. People often celebrate by lighting dipa lamps, lighting fireworks, sharing a meal, and exchanging gifts.

Diwali, the Festival of Lights, holds special significance for Maryland’s diverse community. While it’s not a U.S. bank holiday, many residents in Maryland celebrate this Hindu festival with great enthusiasm. The occasion often leads to increased economic activity in the state, and businesses here may seek the assistance of Maryland factoring companies to manage their cash flow during this festive season. These factoring companies play a vital role in supporting businesses and ensuring the smooth celebration of Diwali, contributing to the cultural vibrancy of the state.

Thanksgiving (Federal Holiday – Banks Closed)

Floating Holiday: Fourth Thursday in November

• November 23, 2023
• November 28, 2024
• November 27, 2025
• November 26, 2026
• November 25, 2027
• November 23, 2028

Thanksgiving was one of the original four federal holidays. Banks and most businesses are closed. People often travel to see family, share a meal, and watch football, though the day is intended to commemorate the first Thanksgiving – a 1621 harvest feast shared by early colonists and members of the Wampanoag Nation.

Thanksgiving usually serves as the kickoff for holiday shopping. Several shopping-based observances immediately follow it, and most businesses capitalize on them to boost sales.

Thanksgiving, a cherished federal holiday, is a time for gratitude and family gatherings in Indiana. On this day, banks across Indiana remain closed to allow their employees to celebrate with loved ones. It’s also a time when businesses in the state may see an increase in customer activity, as people shop for Thanksgiving feasts and holiday preparations. To manage their finances effectively during this bustling season, businesses in Indiana can turn to Indiana factoring companies for assistance. These companies provide valuable financial services that help local businesses thrive during Thanksgiving and throughout the year.

Thanksgiving-Based Shopping “Holidays”

• Black Friday: Day After Thanksgiving
• Small Business Saturday: Saturday After Thanksgiving
• Cyber Monday: Monday After Thanksgiving
• Giving Tuesday: Tuesday After Thanksgiving

Hanukkah/ Chanukah Starts (Religious Holiday – Banks Open/ Follow Normal Schedule)

Floating Holiday: Beginning the 5th of Kislev on the Hebrew Calendar

• December 7, 2023
• December 25, 2024
• December 14, 2025
• December 4, 2026
• December 24, 2027
• December 12, 2028

Hanukkah, the Jewish Festival of Lights, can start as early as November 28 or as late as December 27. The holiday commemorates the rededication of the Second Temple in Jerusalem following the Maccabean Revolt against the Seleucid Empire in the 2nd century BCE. The event is special because it’s said that a single day’s oil supply lasted the eight days required to complete the rededication. Therefore, Hanukkah is an eight-day celebration, with evenings full of worship, family time, and traditional foods. It’s not a U.S. bank holiday, and most businesses are unaffected.

As the Jewish community in Colorado begins celebrating Hanukkah/Chanukah, a festival of lights and remembrance, banks in the state continue with their regular schedule. During this eight-day holiday, families come together to light the menorah, exchange gifts, and enjoy traditional dishes. While businesses in Colorado operate as usual, some may experience shifts in customer behavior during this festive period. To navigate any financial challenges and maintain a smooth cash flow, local businesses can rely on the support of Colorado factoring companies. These companies offer financial solutions that keep businesses thriving during the holiday season and beyond.

Christmas Eve (General Holiday – Banks Open/ Follow Normal Schedule)

Fixed Holiday: December 24

Although many people begin their Christmas festivities on Christmas Eve, the day is not a federal holiday. Banks and most businesses are open, though some close early in observance of the holiday.

On Christmas Eve, many individuals and families in Oregon gather to kick off their holiday celebrations. It’s a time for last-minute shopping, festive gatherings, and anticipation for the upcoming holiday. While Christmas Eve is a special occasion for Oregonians, it’s not a federal holiday, and most banks in the state follow their normal operating hours. Local businesses can also plan their operations accordingly. To navigate any financial challenges during this holiday season, businesses in Oregon can consider the support of Oregon factoring companies. These companies provide financial solutions to ensure businesses have the working capital they need, allowing them to focus on their holiday preparations and sales.

Christmas Day (Federal Holiday – Banks Closed)

Fixed Holiday: December 25

Christmas Day is the final of the initial four federal holidays. Banks and most businesses are closed. Although it has a religious history, most Americans celebrate it regardless of religion. Gift exchanges and festive meals are common.

In Hawaii, Christmas Day is not only a time for celebrating the holiday but also a unique cultural experience. The warm tropical weather complements the festive spirit, with many residents and visitors enjoying outdoor activities and beach gatherings. Christmas in Hawaii is a blend of traditions, including hula performances and feasting on local cuisine. While Christmas Day is a federal holiday, with banks closed across the islands, it’s also an opportunity for Hawaii factoring companies to provide support to local businesses. These Hawaii factoring companies offer financial solutions that can help businesses manage their cash flow during the holiday season, ensuring they can meet their operational needs and embrace the aloha spirit of giving.

Kwanzaa (Cultural Holiday – Banks Open/ Follow Normal Schedule)

Fixed Holiday: December 26 – January 1

“Kwanzaa” comes from the Kiswahili phrase “matunda ya kwanza,” which means “first fruits [of the harvest].” It’s a fixed holiday honoring African heritage and culture that runs seven days starting on December 26 each year, though it’s not a federal holiday and doesn’t impact bank or business operations.

New Year’s Eve (General Holiday – Banks Open/ Follow Normal Schedule)

Fixed Holiday: December 31

New Year’s Eve is a day of parties, with people striving to stay awake until the new year officially rolls in. It’s not a bank holiday, though sometimes banks and businesses close early.

Help Your Business Prepare for U.S. Bank Holidays and Observances with Factoring

Understanding U.S. Bank Holidays and Observances is crucial for businesses across the country, from Arkansas factoring companies to West Virginia factoring companies. Each state, be it Kansas, Utah, or New Hampshire, has unique business rhythms influenced by these holidays. South Dakota factoring companies, Mississippi factoring companies, and others in states like Maine, Kentucky, and Tennessee adapt their services to cater to regional needs during these periods. Likewise, businesses in states like Idaho, Oklahoma, North Dakota, and New Mexico benefit from the tailored approaches of local factoring companies during these important dates.

Invoice factoring accelerates payment on your B2B invoices, you can get working capital right away instead of waiting weeks or months for your clients to pay. If you need cash in order to ramp up for a holiday or want to be sure you’re not impacted by bank holidays, take the first step and request a complimentary factoring rate quote.