US banks close 153 branches, open 63 in June

U.S. banks and thrifts opened 63 branches and closed 153 in June, bringing the total number of active branches to 79,722 as of June 30.

June's 90 net closures were significantly lower than the trailing-12-month average of 286 net closures per month, according to S&P Global Market Intelligence data.

Since the beginning of July 2021, the U.S. banking industry has closed 3,437 branches and opened 994.

JPMorgan Chase & Co. has been the most active branch opener for the past few months, but FineMark Holdings Inc. took the top position in June with two openings and no closings.

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Bank of America Corp. shuttered 45 branches in June, more than any other bank. Over the last 12 months, BofA has closed 377 branches and opened 37.

Wells Fargo & Co. was the second-largest net closer of the month with 24 closings and no openings. Wells Fargo has closed a net 234 branches over the last 12 months.

The mid-Atlantic region saw the most net closures in June at 29, followed by Midwest and West at 15 each.

At the state level, Iowa had the most net openings at two, while New York and California were the largest and second-largest net closers with 15 and nine, respectively.