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US banks and thrifts trim branch count by 63 in July

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US banks and thrifts trim branch count by 63 in July

U.S. banks and thrifts continued to scale back branch networks across the country in July, shuttering 116 branches while opening just 53, according to S&P Global Market Intelligence data.

Over the last 12 months, U.S. banks and thrifts have closed 2,610 branches while opening 921.

As of July 31, there were 88,098 active bank and thrift branches in the U.S.

New York and Pennsylvania's eight net closures led the country in July, followed by Florida's seven. No state had more than one net opening during the month.

By region, the Mid-Atlantic lost a net 22 branches in July, more than any other region. The Northeast had two net openings.

Wells Fargo & Co. shuttered 27 branches in July, by far the most of any bank, followed by Bank of America Corp. at 16.

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S&P Global Market Intelligence combines bank branch data with demographic information, which can be accessed via the market demographics page under the market analysis section of a company's Briefing Book page on the web platform or the Office Screener.