Branch banking

The community banks join a growing list of banking companies closing locations as customer preferences shift to digital channels.

Citigroup could fetch as much as $6 billion from the sale of retail banking assets in 13 markets across the Asia-Pacific region, Europe and the Middle East as the lender forges ahead with plans to fine-tune its global branch network, people familiar with the plan said.

The Ohio company has opened just 32 of 120 new branches it plans in the region by 2022, but those offices are making a sizable contribution to growth.

The company plans to shutter five locations, or roughly 12% of its network, next month.

It’s easy — but pointless — to lament the havoc that the economy has wreaked on performance metrics lately. Instead, draw up an opportunistic new plan, urge your employees to focus on execution and worry less about what rivals are doing.

The South Carolina credit union has pivoted to an open-concept model that allows for social distancing, along with a walk-up window to serve members outside the branch if lobby access is restricted for any reason.

The Brink's Company has expanded its cash management and payment solutions portfolio through the acquisition of PAI Inc., a privately held provider of ATM services in the U.S.

Truity Credit Union in Oklahoma is selling its only branch in the state.

While many institutions are part of nationwide shared-branch networks, three Southern California credit unions have agreed to share one facility. The arrangement is believed to be the only one of its kind.

The agency's plan would strengthen requirements that banks use a minimum amount of their real estate for the business of banking, but three grade groups say banks need flexibility in the pandemic to manage occupancy.