trending Market Intelligence /marketintelligence/en/news-insights/trending/AUJtk02e_A1R7yDmJginVQ2 content esgSubNav
In This List

US banks and thrifts close a net 100 branches in February

Blog

Getting an Edge with Services: Driving optimization by embracing technological innovation

Blog

The Four Steps of Effective Due Diligence

Blog

Banking Essentials Newsletter: August 21st Edition

Blog

Banking Essentials Newsletter: July 24th Edition


US banks and thrifts close a net 100 branches in February

U.S. banks and thrifts continued closing branches in February, shuttering 142 locations while opening 42 for 100 net closures, according to S&P Global Market Intelligence data. By comparison, a net 67 branches were closed in January.

Over the last 12 months, U.S. banks and thrifts have closed 2,998 branches and opened 1,024. As of Feb. 28, there were 87,140 active branches in the U.S.

Missouri had the most net openings in the U.S. in February, at three, while Florida led the country with 13 net closures, followed by Pennsylvania with 12.

BB&T Corp. closed 38 branches in February — more than any other bank in the industry and 1.24% of its total branch network. Most of these closures were in Maryland, Florida, Virginia and Georgia — states that overlap with SunTrust Banks Inc., with which BB&T is merging in a deal valued by S&P Global Market Intelligence at $28.2 billion.

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 February 2019.

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