List of state where maximum number of branches are present
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Planned closures and consolidation in the banking industry will likely change the leaderboard in years to come. Wells Fargo is on pace to slip into the No. 2 spot, losing ground to JPMorgan Chase. The move signifies a shift in how Americans are accessing their financial institutions, with an increasing number of customers hitting their browsers over their branches.
In February, The Wall Street Journal reported that bank branches saw the largest decline on record with the number of branches in the U.S. shrinking by more than 1,700 in the 12 months ending in June 2017.
More and more routine transactions are moving to digital channels and out of branches, says Greg McBride, CFA, chief financial analyst for Bankrate.com.
“While branches are still important and not going to disappear anytime soon, they don’t see the traffic they did in the past, and that’s a trend that’s going to continue,” McBride says.
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In February, The Wall Street Journal reported that bank branches saw the largest decline on record with the number of branches in the U.S. shrinking by more than 1,700 in the 12 months ending in June 2017.
More and more routine transactions are moving to digital channels and out of branches, says Greg McBride, CFA, chief financial analyst for Bankrate.com.
“While branches are still important and not going to disappear anytime soon, they don’t see the traffic they did in the past, and that’s a trend that’s going to continue,” McBride says.
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