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US banks close net 83 branches in August

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US banks close net 83 branches in August

U.S. banks and thrifts closed 160 branches and opened 77 in August for a net 83 closures, according to S&P Global Market Intelligence data.

Two of the nation's largest banks, Bank of America Corp. and Wells Fargo & Co., led with 23 and 20 net closures, respectively. U.S. Bancorp was the third-most active net closer, with 15.

On the other hand, Woodforest Financial Group Inc. added a net nine branches in August, making it the only bank in the country to add more than one net branch during the month.

At the state level, New York and California recorded the most net closures at 16 apiece. New Jersey took the third spot with 11 net closures. Indiana, Mississippi, Ohio and South Carolina all had three net openings each.

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