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