trending Market Intelligence /marketintelligence/en/news-insights/trending/1haytcadht8etaij8kwp_g2 content esgSubNav
In This List

US banks and thrifts trim branch count by 63 in July


Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


Banks’ Response to Rising Rates & Liquidity Concerns

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.

SNL Image

SNL Image

SNL Image

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 June 2018.

Click here to generate market share reports for specific companies or U.S. markets.

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.