Branch banking

The credit union expects to open at least eight branches across the country in the months ahead, about half of what it normally adds to its brick-and-mortar network in an average year.

The companies are reacting to an ongoing shift in customer preferences to digital channels.

The ATM and payment terminal makers are facing more competition from software providers. Both have taken steps to head off this threat.

Cardtronics will accept a $1.7 billion sale to NCR after the ATM producer outbid Apollo Global Management and Hudson Executive Capital.

The Columbus, Ohio, company plans to close nearly 200 branches in the state — including more than 90 in Meijer grocery stores — after it acquires TCF Financial. It also intends to significantly boost its technology spending to improve its digital capabilities.

Pandemic-induced shifts in how people work and bank will allow the Tennessee company to shed more branches and office space. It now projects it will slash expenses by an additional $30 million a year.

The Connecticut company said it will take several years to shut down the locations, which are located in Stop & Shop stores. About 80% of the branches are within five miles of traditional locations.

Sandy Spring Bancorp also plans to shrink its network as more customers move to digital channels.

Hundreds of branches temporarily shuttered during the pandemic are now permanently closed.

CEO Michael Hayford wants to transform Cardtronics' ATM fleet into a distribution network for fintech services. But first he has to persuade the company to accept his offer.

NCR offered to buy Cardtronics for more than $1.7 billion, beating an earlier bid for the ATM operator from Apollo Global Management Inc. and a partner.

With fewer people allowed inside branches, banks have to capitalize on those limited in-person interactions by offering experts on financial literacy and mobile banking.

There's a way to manage the tricky balance between rapid digitization and the people who still need or prefer cash, and for Ram Chary it can be found in a casino.

Despite limiting on-site visits and adding more self-service channels, the industry is forging ahead with plans for hundreds of new or expanded brick-and-mortar locations.

The company, which reported a large third-quarter loss in October, plans to sell or shutter a quarter of its locations.

Police directed the institution to shut down four branches Wednesday as armed Trump supporters forced their way into the Capitol, and two facilities were on lockdown for several hours during the day.

The New Canaan, Conn., company said it will record a pretax expense of $3.9 million in the fourth quarter related to branch and office closings, severance payments and the end of a vendor contract.

The company is also looking to hire more senior lenders as it expands in markets around Los Angeles and San Diego.

Bank and credit union groups are pushing to include the industry’s front-line workers in the next priority group, but even as a recommendation is coming soon from a CDC advisory panel, the decision ultimately will be made state by state.

The company adds to a growing list of banks shutting branches to invest in technology offerings.