Since January 1, 2023, 475 5-Star community banks have opened nearly 600 branch offices. Those with four or more new “organic” branches during 2023/2024 are highlighted in this article. Those with two or three new branches can be found on…
New Community Bank Branches Popping Up
Community banks added 360 new branches during 2023. They were spread out among more than 300 banks, so the majority netted just one new branch. Those that opened two or more and are also rated either 5-Stars or 4-Stars by…
Bank Branch Closures Exceeded 1,500 in 2023
Last year, over 300 banks shed in excess of 1,500 branch offices. Three Big Banks, Wells Fargo Bank, PNC Bank, and Truist Bank, with a combined net loss of 650 branches, were responsible for 40% of those lost branches. When Big Banks…
The Fewer the Bank Branches, the More They Matter
Over 2,100 bank branches closed their doors during the 12 month period ending June 30, 2023. Yet, 977 new bank branches opened for business during that same 12 month period. Many of the new branches belong to 5-Star community banks.…
Having Choices is a Wonderful Thing
Sometimes we have to count our blessings. And this is one of those times. At Bauer, we are fortunate to have 41 banks with branches located in the same zip code as our main office in Coral Gables, Florida. Many…
Community Bank Branches are NOT Going Away
That may seem contradictory to the chart below, but notice we said “community bank branches”. According to the FDIC, in the past 12 months, the industry has closed 3,617 branch offices and opened just 1,148 for a net loss of…
50% of Branches Closed by these 9 Banks
The United States lost more than 3,000 bank branches in the 12 month period ending March 31, 2022. But not all banks are shedding branches. In fact, nine (Big) banks were responsible for more than half of the closures. The…
4 Big Banks Account for 37% of 2021 Branch Closures
The U.S. lost over 2,900 bank branches in 2021. While that represents less than 3.5% of the total, it is a new record. The previous record was set in 2020 as COVID began nudging consumers toward mobile banking. Clearly, that…
Will There be a Merger Miracle in 2022?
If you can’t remember the last time federal regulators denied a bank merger application, you’re not alone. It has been years. In fact, when we began writing Jumbo Rate News in 1983, there were almost 15,000 banks in the U.S.;…
’Tis the Season for Scammers
It is the Holiday Season and for most of us that means spending time with family and friends. But for others, it means finding new ways to take advantage of unsuspecting victims. Since the beginning of the pandemic, “alleged” cyber-fraud…