US Banks See 188 Net Branch Closings in February

U.S. banks and thrifts opened 72 branches and permanently closed 260 in February, leaving the total number of active branches at 80,481, according to S&P Global Market Intelligence data.

While the number of closures marks a slight uptick from January, it is still a slowdown in comparison to the 12-month trailing average of 332.6. The number of openings paints a similar picture, with a modest increase compared to January, but still below the 12-month trailing average of 91.5.

Over the last 12 months, the industry opened 1,098 branches and closed 3,991 in total.

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