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US banks closed a net 40 branches in July

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US banks closed a net 40 branches in July

U.S. banks and thrifts closed 105 branches and opened 65 during July, according to S&P Global Market Intelligence data.

Two of the nation's three largest banks by physical presence, Bank of America Corp. and Wells Fargo & Co., led with 25 and 16 net closings, respectively. U.S. Bancorp followed with 11 net closings during the month.

Conversely, JPMorgan Chase & Co. added a net nine branches in July, opening 14 and closing five. The company's 14 openings during the month were spread across seven states and Washington, D.C.

At the state level, New Jersey experienced the most closings —11 net — during the month, with Fairfield, N.J.-based Kearny Financial Corp. accounting for six of the total 13 closures in the state. Illinois followed with 10 net closings, 13 total, which were all Bank of America branches.

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