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Wells Fargo leads US bank branch cull in October

U.S. banks and thrifts continued cutting branches across the country in October, shuttering 191 branches while opening just 79, according to S&P Global Market Intelligence data.

Over the last 12 months, U.S. banks and thrifts have closed 3,016 branches while opening only 980. As of Oct. 31, there were 87,632 active bank and thrift branches in the U.S.

Florida led the country with 22 net closures in October, followed by California, Illinois and New Jersey at eight net closures each.

Meanwhile, Wells Fargo & Co.'s 38 net closures led the industry in October, followed by Bank of America Corp.'s 33 net closures.

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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.