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US banks close 356 branches, open 90 in December 2020

U.S. banks and thrifts opened 90 branches and permanently closed 356 during December 2020, according to S&P Global Market Intelligence data.

Over the course of 2020, U.S. banks and thrifts closed 3,324 branches and opened 1,040, leaving 83,991 active branches as of Dec. 31, 2020.

Warren, Pa.-based Northwest Bancshares Inc. led the nation with 44 net closures last month, followed by Wells Fargo & Co. with 32 net closures. Wells Fargo closed a total of 33 branches in December and opened one.

Indiana, Pa.-based First Commonwealth Financial Corp. closed a net 29 branches in December as it seeks to consolidate 20% of its branch network, according to the company's third-quarter 2020 earnings call.

Pennsylvania led the nation with 46 net branch closures in December, followed by Illinois with 38.

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Click here to access a template containing bank branch openings and closings for December 2020.