Jan 21, 2022 - Economy
Charted: Disappearing bank branches
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Bank branch closures hit a record last year.
By the numbers: The number of net closures increased by 38% from 2020, according to S&P Global Market Intelligence.
The big picture: Banks, which had been closing branches steadily for about a decade prior to the pandemic, hastened plans to consolidate locations as a way to cut costs during the health crisis.
Details: Wells Fargo topped the list with a net 267 closures.
- Ohio-based Huntington Bancshares had the most net closures (221) on a percentage basis among banks with 1,000 or more branches.
