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JPMorgan leads bank branch openings in December '19


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JPMorgan leads bank branch openings in December '19

U.S. banks and thrifts shuttered 138 branches in December 2019 but also opened 135 locations, resulting in just three net closures, according to S&P Global Market Intelligence data. By comparison, a net 77 branches were closed in November 2019 and 43 in October 2019.

In 2019, U.S. banks and thrifts closed 2,846 branches and opened 1,226, leaving 86,054 active branches in the U.S at year-end.

JPMorgan Chase & Co. netted 30 branch openings in December, more than any other bank in the country by a wide margin. The company's 46 openings were spread across 20 states and territories, with five openings apiece in Pennsylvania, Massachusetts, Georgia and Washington, D.C. Fifth Third Bancorp and Cullen/Frost Bankers Inc. followed with four and three net openings, respectively.

Conversely, U.S. Bancorp had the highest number of net closures at 16. People's United Financial Inc. was the only other bank with double-digit net closures during the month at 12.

At the state level, Pennsylvania had the highest net openings at eight, followed by Georgia and Texas at six each.

New York recorded the most net closures at 12, while Connecticut took the second spot with 10 net closures.

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Click here to access a template containing bank branch openings and closings for December 2019.