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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.
January 22 -
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.
January 22 -
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.
January 21 -
Sandy Spring Bancorp also plans to shrink its network as more customers move to digital channels.
January 21 -
Hundreds of branches temporarily shuttered during the pandemic are now permanently closed.
January 20 -
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.
January 8 -
The company, which reported a large third-quarter loss in October, plans to sell or shutter a quarter of its locations.
January 6 -
The company adds to a growing list of banks shutting branches to invest in technology offerings.
December 17 -
The accelerating pace of branch closures is partly due to industry consolidation, according to the community reinvestment group that authored the new report.
December 14 -
The Pittsburgh company also sold a portfolio of indirect auto loans and repaid a large amount of Federal Home Loan Bank borrowings.
December 10