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US bank branch closures slow in December 2018

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US bank branch closures slow in December 2018

U.S. banks and thrifts continued closing branches across the U.S. in December 2018, shuttering 154 locations while opening just 89, according to S&P Global Market Intelligence data. By comparison, a net 214 branches were closed in November 2018.

Over the last 12 months, U.S. banks and thrifts have closed 2,956 branches while opening 1,011. As of Dec. 31, 2018, there were 87,323 active bank and thrift branches in the U.S.

Michigan led the country with 14 net closures in December 2018, followed by Ohio at 11 net closures.

Toronto-Dominion Bank closed 18 U.S. branches in the month — more than any other bank in the industry.

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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.