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Bank Branches are closing at Record Pace

Bank Brank Closures

The pandemic and online banking Bank Branches are closing a record pace. As reported by Axios.

Bank branch closures hit a record last year, Hope writes.

By the numbers: The number of net closures increased by 38% from 2020, according to S&P Global Market Intelligence.

The big picture: Banks, which had been closing branches steadily for about a decade prior to the pandemic, hastened plans to consolidate locations as a way to cut costs during the health crisis.

Details: Wells Fargo topped the list with a net 267 closures.  Ohio-based Huntington Bancshares had the most net closures (221) on a percentage basis among banks with 1,000 or more branches.

Axios Closer
By Hope King and Nathan Bomey ·Jan 21, 2022

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