Branch banking

HSBC Holdings has announced plans to shutter more than 100 of its U.K. branches next year as the bank pushes more of its customers to use its online services.

Central Pacific Bank, which has branches on the Big Island, is tracking the eruption of Mauna Loa in an effort to limit the risk of service interruptions. So far, the impacts appear to be limited.

Regions and PNC are two banks that have expanded the use of their mobile branches in recent years.

The $683 million-asset credit union opened a loan production office in Enfield dedicated exclusively to mortgage and business lending.

The Pacific Northwest bank has agreed to divest 10 branches as a condition of the Department of Justice's green light of its merger with Umpqua Holdings. The deal still needs the blessing of the Federal Deposit Insurance Corp.

Truliant Federal Credit Union plans to build three more locations in the northwest corner of South Carolina by the end of next year. The $4 billion-asset credit union also recently opened a regional office in Greenville, South Carolina.

The Southern California branches will be sold to HomeState Bank, a Seattle-based community bank. The Department of Justice required the sale as part of U.S. Bancorp's pending acquisition of MUFG Union Bank.

The industry is largely missing out on a huge segment of the market for financial services.

JPMorgan Chase is starting to phase out an offering far more associated with old-fashioned bank branches than today's smartphone apps: safe deposit boxes. 

The report, which examined trends between 2010 and 2021, found that the country's biggest banks only opened 638 branches in low-to-moderate-income communities made up primarily of people of color. That accounts for just 15% of their total branch openings.