CHARLOTTE — Branch closures have become a common trend in the banking industry, though the Charlotte area saw its overall count drop just slightly in the past year.
The Charlotte metro area had 512 bank branches as of June 30, down from 516 as of the same date in 2021, according to recent Federal Deposit Insurance Corp. data.
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The local number of bank branches has dropped nearly every year over the past decade. But the area saw a slight jump in 2020 following the 2019 merger of SunTrust and BB&T that formed Charlotte-based Truist Financial Corp. There were 516 branches here in 2020, up from 509 in 2019 and marking the first increase since 2012.
In the Charlotte area, Truist shuttered the most branches over the past year, followed by locally based Bank of America Corp. Truist’s closures were mainly tied to the final steps in its post-merger integration. It began closing branches here in late 2020.
Read the full story here to learn how other banks’ branch networks fared.
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