At least 273 bank locations closed across the United States in May, while 46 opened that month.
Many major banks have announced that they’re closing down branches in 2023, as more and more customers are making deposits via their phones or to keep tabs on their balances, all without leaving their homes. Others still rely on physical bank branches to do to the bulk of their transactions, and these closures will affect how many conduct their financial affairs. The only branch openings in May were by Big Poppy Holdings and Pinnacle Financial Partners, each of which opened two branches. Bank Branch Closures Spike in 2023
There were 227 net closings last month, up from 79 in April and the trailing-12-month average of 132, according to a June 30 report from S&P Global Market Intelligence. U.S.-based banks had a total of 78,121 active branches nationwide at the end of May.
U.S. Bancorp, […]
Excerpt Sourced From: basedunderground.com
