U.S. banks and thrifts continued to downsize their branch networksin April, closing 125 branches while opening only 47.
PNC Financial ServicesGroup Inc. closed the most number of branches in April, with 11 netclosings. On its first-quarter earnings conferencecall, Chairman, President and CEO William Demchak said the company isseeing "improved efficiency" as it reinvents its retail banking experience.
JPMorgan Chase &Co. was the only one among the nation's four biggest banks on the highestnet closers list for April, with three closed branches and no openings. (In thefirst quarter, JPMorganhad 30 net closings.
Short Hills, N.J.-based InvestorsBancorp Inc. was the only institution with three or more net openings.On May 3, Investors Bancorp announceda deal to acquire Princeton, N.J.-based Bank of Princeton. The acquisition will add 13 branches toInvestor Bancorp's franchise as it enters into Pennsylvania.
Pennsylvania and California were among the states that saw ahigh number of branch closings in April. Of the 16 closings in Pennsylvania, sixclosings originated from PNC and seven were linked to Northwest Bancshares Inc. Meanwhile, Colorado, Connecticut,Iowa and New Jersey had two net openings each.
California has the most active branches in the country, and forApril, saw three branch openings and eight branch closings.
SNL offers a variety of tools to help analyze bank branch data.
Click here for a template that allows you to view bank branch openings and closings.
Click here to view a webinar on best practices for bank branch analysis.
Click here to access a tool that allows you to generate market share reports for specific companies or U.S. markets.
SNL combines bank branch data along with demographic information, which can be accessed via the market demographics page under the U.S. market analysis section of a company's briefing book page on the SNL website or in SNLxl.