U.S. banks and thrifts closed more offices across the country in November, shutting down 184 branches while opening just 53, according to SNL data. As of Nov. 30, there were 89,326 active bank and thrift branches in the U.S.
During the first 11 months of the year, U.S. banks and thrifts closed a net 1,938 branches, with the Midwest region accounting for over 34% of the net closures. In November, however, the Mid-Atlantic region led the nation with 36 net closures, while the Midwest posted 25.
By state, New York led the nation with 16 net closures, followed by Texas with 15. Meanwhile, there were just two net openings in Minnesota, the most among any states in the U.S.
Capital One Financial Corp. shut down a net of 33 offices during the month of November, the most of any company in the U.S. Ten of the 16 net closures in New York and another 10 of the 15 in Texas during the month were attributable to Capital One Financial.
Bank of America Corp. shuttered a net 29 branches across the country during the month. Nine of those net closures were in the state of California. Meanwhile, Wells Fargo & Co. and JPMorgan Chase & Co. shut down a net of 24 and 16 branches, respectively, across the nation.
Branch data is collected on a best-efforts basis by SNL, a platform owned by S&P Global Market Intelligence. Coverage includes FDIC-insured branches and excludes loan offices, mortgage branches and other offices that may not primarily engage in deposit-taking activities.

Did you enjoy this analysis? Click here to set up real-time alerts for data-driven articles on the U.S. financial sector. Click here to access a template containing bank branch openings and closings for November 2017. Click here to view a webinar on best practices for bank branch analysis. Click here to access a tool that allows you to generate market share reports for specific companies or U.S. markets. SNL combines bank branch data along with demographic information, which can be accessed via the market demographics page under the U.S. market analysis section of a company's Briefing Book page on the web platform or the Office Screener. |

