Happening across the country, including smaller cities too. For example, City of Reading lost McDonalds downtown a few years ago (don't know exactly when; google and Bing are terrible - can't find anything despite articles about it back then) that had been there for decades.

Primarily reduced foot traffic combined with more food choices, including food delivery apps, and crime. While crime isn't the top reason, it's another challenge such locations have to contend with.

Most McDonalds that remain in cities will be those in top tourist destination spots that get regular foot traffic day and night along with those with drive-thrus.

Likely something better and more appealing will replace that spot. Bank is somewhat surprising with so many closing, but they do still open new ones here and there. Key is whether there are many other banks in the area and demographics, such as gentrification. Time will tell what goes in there.