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There Are 6,458 (or 7.9%) Fewer US Bank Branches Now Than in 2020 — Here Are the States, Metros That Lost the Most


Written by Devon Delfino

 

A brick-and-mortar bank is an essential part of financial management for some, offering in-person customer service and support. While a 2020 DepositAccounts study showed bank branch closures slowing despite the COVID-19 pandemic, these physical locations are becoming less and less available.

In fact, the newest DepositAccounts study shows there were 7.9% fewer bank branches in June 2023 than in June 2020. To understand how this trend is playing out across the U.S., we looked at each state and then metros with at least 250,000 residents.

On this page
 

Key findings

  • There were 7.9% fewer bank branches in the 50 states and the District of Columbia in June 2023 than in June 2020. The number of full-service and retail branches decreased by 6,458 in this period, from 81,669 in June 2020 to 75,211 in June 2023.
  • Hawaii (16.5%), Oregon (15.9%) and Virginia (15.4%) lost the greatest share of branches during this period. On the other hand, Utah was the only state to see an increase in the number of bank branches, from 500 in June 2020 to 503 in June 2023. Vermont and Montana were the only states to maintain the same number of branches. 
  • Four metros with at least 250,000 residents lost at least 1 in 5 branches over the past three years. Those metros were Youngstown, Ohio (22.1% decrease in branches), Flint, Mich. (21.7%), Trenton, N.J. (20.1%), and Lakeland, Fla. (20.0%).
  • Nevada had the fewest branches per capita through June 2023, at only 13.4 per 100,000 residents in the state. Arizona and California followed, with 13.9 and 14.5 branches per capita, respectively. In contrast, North Dakota had 50.9 branches per 100,000 residents — the most of any state. Following that, South Dakota had 48.8 and Nebraska had 48.2 branches per capita.
  • Four metros had fewer than 10 full-service and retail branches for every 100,000 residents through June 2023. Bakersfield, Calif., was at the bottom, with 8.6 branches per capita, followed by Anchorage, Alaska (8.8), Merced, Calif. (9.0), and Vallejo, Calif. (9.7). 

7.9% fewer bank branches exist in June 2023 than in June 2020

According to our analysis of Federal Deposit Insurance Corp. (FDIC) data, there were 7.9% fewer bank branches in the 50 states and the District of Columbia in June 2023 than in June 2020. That translates to 6,458 closures of full-service and retail branches over those three years. And when you consider the timing of this research, it makes sense.

“Many people were forced to do more banking online and by smartphone during the pandemic,” DepositAccounts founder Ken Tumin says. “Many of them didn’t go back to the branches when the pandemic lessened.”

While the coronavirus crisis accelerated the switch to online banking, it’s a trend that had started before. As consumer preferences shifted, traditional banks have been forced to invest in digital technologies and reduce their dependence on physical branches. According to a J.D. Power survey from April 2020, 52% of customers visited banks in person before the pandemic. By 2021, more than 40% of core retail banking sales occurred digitally, according to McKinsey & Co. — a record high. 

Another potential factor could be the added costs of running a physical branch, from renting or buying the space to employing tellers, bank managers, loan officers, security and more. A period of extremely low interest rates limited banks’ ability to earn significant returns on the cash deposited with them, so closing physical branches could have been more attractive to the bottom line.

Of note: One-third of the bank branches closed from 2017 to 2021 were in low-to-moderate income (LMI) or majority-minority communities with severe inequities, according to a February 2022 report from the National Community Reinvestment Coalition (NCRC).

Hawaii lost the greatest share of branches — here are the states that follow

The three states with the greatest share of bank branch losses during the observed period — June 2020 to June 2023 — were Hawaii (16.5%), Oregon (15.9%) and Virginia (15.4%).

Hawaii lost 43 branches over the three years. In early 2021, Honolulu-based Bank of Hawaii announced it was closing 12 in-store branches (and 50 ATMs) because customers were more commonly using digital banking options — a recurring theme seen across the U.S. amid the pandemic. The state had the seventh-fewest bank branches at the start of our period in June 2020, so fewer closures would have a greater impact than in larger states.

Back on the mainland, U.S. Bank announced in October 2020 that it was closing 32 branches in Oregon. A bank spokesperson told the East Oregonian newspaper that digital banking and the pandemic contributed to the branch closures. In January 2022, U.S. Bank shuttered the only physical branch in Nyssa, an eastern Oregon city — exhibiting the severity of the state’s closures.

Meanwhile, PNC Bank announced in March 2023 that it would close 47 branches in June, with BestLife reporting Virginia would be the hardest-hit. Earlier in late 2021, Atlantic Union Bank said it would shut 14 branches in the state, according to American Banker.

5 states that lost the most bank branches between June 2020 and June 2023 (by %)

Rank State Branches in 2020 Branches in 2023 3-year change (#)  3-year change (%)
1 Hawaii 261 218 -43 -16.5%
2 Oregon 893 751 -142 -15.9%
3 Virginia 2,169 1,835 -334 -15.4%
4 Michigan 2,289 1,944 -345 -15.1%
5 Maryland 1,381 1,177 -204 -14.8%

Source: DepositAccounts analysis of Federal Deposit Insurance Corp. (FDIC) data between June 2020 and June 2023.

Of interest: Only one state in the U.S. saw an increase in the number of bank branches during the three years we analyzed. This exception was Utah, where branches went from 500 in June 2020 to 503 in June 2023. 

Bank of America noted in June 2023 that it had opened 20 Utah locations since May 2019. While part of that would be outside the examined period, it exemplifies the growth. And according to an October 2021 report from the University of New Hampshire, Utah was one of two states that had recovered its lost jobs amid the pandemic, surpassing pre-crisis numbers. That could have made the state more attractive to banks looking to expand during this period.

Two states — Vermont and Montana — were the only to maintain the same number of branches during this period. Both states have significant rural populations, meaning physical bank branches may still play a crucial role in providing financial services to residents. In these states, access to digital banking services might be limited due to connectivity issues or a preference for in-person banking.

Full rankings

States that lost the most bank branches between June 2020 and June 2023 (by %)

Rank State Branches in 2020 Branches in 2023 3-year change (#)  3-year change (%)
1 Hawaii 261 218 -43 -16.5%
2 Oregon 893 751 -142 -15.9%
3 Virginia 2,169 1,835 -334 -15.4%
4 Michigan 2,289 1,944 -345 -15.1%
5 Maryland 1,381 1,177 -204 -14.8%
6 Nevada 468 410 -58 -12.4%
7 California 6,515 5,729 -786 -12.1%
8 New Jersey 2,673 2,352 -321 -12.0%
9 Pennsylvania 3,715 3,279 -436 -11.7%
10 Washington 1,599 1,424 -175 -10.9%
11 Arizona 1,100 986 -114 -10.4%
11 Connecticut 1,057 947 -110 -10.4%
13 Florida 4,685 4,217 -468 -10.0%
14 Ohio 3,344 3,020 -324 -9.7%
15 New York 4,514 4,085 -429 -9.5%
16 Georgia 2,207 2,006 -201 -9.1%
16 North Carolina 2,160 1,963 -197 -9.1%
18 District of Columbia 205 187 -18 -8.8%
19 Illinois 3,862 3,538 -324 -8.4%
20 Idaho 454 417 -37 -8.1%
21 Indiana 1,862 1,728 -134 -7.2%
22 New Mexico 422 392 -30 -7.1%
23 Wisconsin 1,762 1,638 -124 -7.0%
24 Massachusetts 2,062 1,934 -128 -6.2%
25 Alabama 1,416 1,329 -87 -6.1%
25 Rhode Island 245 230 -15 -6.1%
27 Kentucky 1,522 1,436 -86 -5.7%
28 Colorado 1,412 1,333 -79 -5.6%
29 West Virginia 573 543 -30 -5.2%
30 Alaska 118 112 -6 -5.1%
31 Louisiana 1,346 1,279 -67 -5.0%
32 South Carolina 1,169 1,113 -56 -4.8%
33 Tennessee 1,949 1,857 -92 -4.7%
34 Delaware 228 218 -10 -4.4%
35 Missouri 2,128 2,040 -88 -4.1%
36 Mississippi 1,040 1,010 -30 -2.9%
37 Arkansas 1,241 1,209 -32 -2.6%
38 Nebraska 965 941 -24 -2.5%
39 South Dakota 440 430 -10 -2.3%
39 Texas 6,164 6,021 -143 -2.3%
41 Maine 441 432 -9 -2.0%
41 Oklahoma 1,234 1,209 -25 -2.0%
43 Kansas 1,325 1,300 -25 -1.9%
44 Iowa 1,411 1,385 -26 -1.8%
45 Minnesota 1,572 1,547 -25 -1.6%
46 North Dakota 400 394 -6 -1.5%
47 Wyoming 209 206 -3 -1.4%
48 New Hampshire 386 381 -5 -1.3%
49 Montana 354 354 0 0.0%
49 Vermont 222 222 0 0.0%
51 Utah 500 503 3 0.6%

Source: DepositAccounts analysis of FDIC data between June 2020 and June 2023.

4 metros lost at least 20% of their bank branches over the past 3 years

These bank closures more heavily impacted some metros than others. In fact, four metros (each with at least 250,000 residents as of 2021) stood out for having at least one-fifth fewer bank branches than three years ago:

  • Youngstown, Ohio (22.1% decrease in branches)
  • Flint, Mich. (21.7% decrease)
  • Trenton, N.J. (20.1% decrease)
  • Lakeland, Fla. (20.0% decrease)

Mercer, Pa. — a small borough within the Youngstown metro — lost three branches (Citizens Bank, Huntington Bank and PNC Bank) in the 18 months between November 2021 and April 2023, according to WKBN news. And early in 2022, PNC Bank notified customers that it was shutting branches in Howland and Canfield, Ohio — also part of the wider metro, according to the Tribune Chronicle. All told, there were 32 fewer branches in the metro at the end of our observed period compared to the beginning.

4 metros that lost at least 20% of bank branches between June 2020 and June 2023

Rank Metro Branches in 2020 Branches in 2023 3-year change (#) 3-year change (%)
1 Youngstown, OH 145 113 -32 -22.1%
2 Flint, MI 60 47 -13 -21.7%
3 Trenton, NJ 134 107 -27 -20.1%
4 Lakeland, FL 100 80 -20 -20.0%

Source: DepositAccounts analysis of FDIC data between June 2020 and June 2023. Note: Metros are limited to those with populations of at least 250,000. Population data is from the U.S. Census Bureau 2021 American Community Survey with five-year estimates.

Economic challenges may contribute here, as low economic prosperity generally means less profitability for banks. All four cities (excluding the cities and towns in the wider metro) have poverty levels higher than the U.S. national rate of 11.6%. Here’s the poverty rate of each city:

 
  • Youngstown: 35.3%
  • Flint: 35.5%
  • Trenton: 27.7%
  • Lakeland: 15.1%

Additionally, the median household income in each city is significantly lower than the U.S. median of $69,021. Youngstown’s median income is more than twice as low at $31,020. Following that, the median income in each city is:

 
  • Flint: $32,358
  • Trenton: $39,718
  • Lakeland: $52,972

Full rankings 

Metros that lost the most bank branches between June 2020 and June 2023 (by %)

Rank Metro Branches in 2020 Branches in 2023 3-year change (#) 3-year change (%)
1 Youngstown, OH 145 113 -32 -22.1%
2 Flint, MI 60 47 -13 -21.7%
3 Trenton, NJ 134 107 -27 -20.1%
4 Lakeland, FL 100 80 -20 -20.0%
5 Virginia Beach, VA 297 238 -59 -19.9%
6 Lansing, MI 112 90 -22 -19.6%
7 Oxnard, CA 153 124 -29 -19.0%
8 Yakima, WA 48 39 -9 -18.8%
9 Salem, OR 75 61 -14 -18.7%
10 Vallejo, CA 54 44 -10 -18.5%
11 Portland, OR 474 390 -84 -17.7%
12 Harrisburg, PA 166 137 -29 -17.5%
13 San Luis Obispo, CA 69 57 -12 -17.4%
14 Eugene, OR 70 58 -12 -17.1%
14 Grand Rapids, MI 286 237 -49 -17.1%
16 Kingsport, TN 90 75 -15 -16.7%
17 Honolulu, HI 175 146 -29 -16.6%
18 Allentown, PA 226 189 -37 -16.4%
19 Port St. Lucie, FL 98 82 -16 -16.3%
20 Columbus, GA 56 47 -9 -16.1%
20 San Diego, CA 552 463 -89 -16.1%
22 Baltimore, MD 630 530 -100 -15.9%
23 San Jose, CA 366 308 -58 -15.8%
24 Las Vegas, NV 320 271 -49 -15.3%
25 Wilmington, NC 66 56 -10 -15.2%
26 Santa Rosa, CA 113 96 -17 -15.0%
27 Detroit, MI 911 775 -136 -14.9%
27 Washington, DC 1,458 1,241 -217 -14.9%
29 Spokane, WA 102 87 -15 -14.7%
30 Greensboro, NC 160 137 -23 -14.4%
30 Reading, PA 104 89 -15 -14.4%
32 Deltona, FL 136 117 -19 -14.0%
33 Merced, CA 29 25 -4 -13.8%
34 Savannah, GA 95 82 -13 -13.7%
35 Cleveland, OH 590 511 -79 -13.4%
35 York, PA 112 97 -15 -13.4%
37 Asheville, NC 107 93 -14 -13.1%
38 Bridgeport, CT 331 288 -43 -13.0%
38 North Port, FL 261 227 -34 -13.0%
38 Palm Bay, FL 100 87 -13 -13.0%
41 Knoxville, TN 236 206 -30 -12.7%
41 Lancaster, PA 158 138 -20 -12.7%
43 Anchorage, AK 40 35 -5 -12.5%
43 Dayton, OH 192 168 -24 -12.5%
45 Lynchburg, VA 82 72 -10 -12.2%
45 Richmond, VA 295 259 -36 -12.2%
47 Fort Wayne, IN 107 94 -13 -12.1%
47 San Francisco, CA 994 874 -120 -12.1%
49 Canton, OH 109 96 -13 -11.9%
49 Erie, PA 67 59 -8 -11.9%
49 Tucson, AZ 151 133 -18 -11.9%
49 Utica, NY 67 59 -8 -11.9%
53 Los Angeles, CA 2,295 2,026 -269 -11.7%
53 Seattle, WA 835 737 -98 -11.7%
55 Atlantic City, NJ 52 46 -6 -11.5%
56 Ocala, FL 70 62 -8 -11.4%
57 Kalamazoo, MI 53 47 -6 -11.3%
57 Rockford, IL 80 71 -9 -11.3%
57 Visalia, CA 53 47 -6 -11.3%
60 New York, NY 4,817 4,284 -533 -11.1%
60 Pittsburgh, PA 746 663 -83 -11.1%
62 Salisbury, MD 145 129 -16 -11.0%
63 Gulfport, MS 119 106 -13 -10.9%
63 Sacramento, CA 357 318 -39 -10.9%
65 Akron, OH 179 160 -19 -10.6%
65 Cape Coral, FL 179 160 -19 -10.6%
67 Roanoke, VA 105 94 -11 -10.5%
68 Orlando, FL 510 457 -53 -10.4%
69 Bakersfield, CA 87 78 -9 -10.3%
69 Green Bay, WI 87 78 -9 -10.3%
69 Peoria, IL 155 139 -16 -10.3%
72 Phoenix, AZ 758 681 -77 -10.2%
73 Atlanta, GA 1,164 1,047 -117 -10.1%
73 Fayetteville, NC 79 71 -8 -10.1%
73 Philadelphia, PA 1,518 1,365 -153 -10.1%
76 Hickory, NC 70 63 -7 -10.0%
77 Riverside, CA 515 464 -51 -9.9%
78 Bremerton, WA 51 46 -5 -9.8%
79 Cincinnati, OH 679 613 -66 -9.7%
79 Spartanburg, SC 62 56 -6 -9.7%
79 Tampa, FL 668 603 -65 -9.7%
82 Miami, FL 1,468 1,329 -139 -9.5%
82 South Bend, IN 74 67 -7 -9.5%
84 Chicago, IL 2,414 2,187 -227 -9.4%
84 Lincoln, NE 127 115 -12 -9.4%
84 Winston-Salem, NC 138 125 -13 -9.4%
87 Boulder, CO 97 88 -9 -9.3%
87 Gainesville, FL 75 68 -7 -9.3%
87 Hartford, CT 312 283 -29 -9.3%
87 Stockton, CA 97 88 -9 -9.3%
91 Ann Arbor, MI 87 79 -8 -9.2%
92 Evansville, IN 89 81 -8 -9.0%
92 Norwich, CT 78 71 -7 -9.0%
94 Louisville, KY 364 332 -32 -8.8%
95 Jacksonville, FL 265 242 -23 -8.7%
96 Columbus, OH 514 470 -44 -8.6%
96 Killeen, TX 81 74 -7 -8.6%
96 New Haven, CT 233 213 -20 -8.6%
99 Longview, TX 94 86 -8 -8.5%
100 Beaumont, TX 73 67 -6 -8.2%
100 Clarksville, TN 73 67 -6 -8.2%
100 Hagerstown, MD 73 67 -6 -8.2%
103 Madison, WI 185 170 -15 -8.1%
104 Huntington, WV 113 104 -9 -8.0%
105 Baton Rouge, LA 214 197 -17 -7.9%
106 Kennewick, WA 51 47 -4 -7.8%
106 Olympia, WA 51 47 -4 -7.8%
108 Providence, RI 388 358 -30 -7.7%
108 Toledo, OH 183 169 -14 -7.7%
110 Rochester, NY 225 208 -17 -7.6%
111 Denver, CO 626 579 -47 -7.5%
111 Santa Maria, CA 93 86 -7 -7.5%
113 Albuquerque, NM 148 137 -11 -7.4%
113 Myrtle Beach, SC 148 137 -11 -7.4%
115 Columbia, SC 169 157 -12 -7.1%
116 Laredo, TX 57 53 -4 -7.0%
116 Mobile, AL 114 106 -8 -7.0%
116 Poughkeepsie, NY 171 159 -12 -7.0%
119 Naples, FL 133 124 -9 -6.8%
119 St. Louis, MO 847 789 -58 -6.8%
121 Salinas, CA 75 70 -5 -6.7%
122 Milwaukee, WI 439 410 -29 -6.6%
123 Tuscaloosa, AL 64 60 -4 -6.3%
124 Birmingham, AL 289 271 -18 -6.2%
124 Modesto, CA 81 76 -5 -6.2%
124 Pensacola, FL 81 76 -5 -6.2%
127 Augusta, GA 115 108 -7 -6.1%
127 Memphis, TN 346 325 -21 -6.1%
129 New Orleans, LA 302 284 -18 -6.0%
130 Boston, MA 1,472 1,385 -87 -5.9%
131 Albany, NY 278 262 -16 -5.8%
131 Fresno, CA 120 113 -7 -5.8%
131 Waco, TX 69 65 -4 -5.8%
134 Charleston, WV 70 66 -4 -5.7%
134 Worcester, MA 229 216 -13 -5.7%
136 Davenport, IA 130 123 -7 -5.4%
137 Tallahassee, FL 76 72 -4 -5.3%
138 Chattanooga, TN 137 130 -7 -5.1%
138 Montgomery, AL 99 94 -5 -5.1%
140 Buffalo, NY 244 232 -12 -4.9%
141 Santa Cruz, CA 44 42 -2 -4.5%
142 Fort Collins, CO 91 87 -4 -4.4%
143 Crestview, FL 94 90 -4 -4.3%
143 Greeley, CO 70 67 -3 -4.3%
145 Cedar Rapids, IA 95 91 -4 -4.2%
145 Indianapolis, IN 506 485 -21 -4.2%
145 Raleigh, NC 287 275 -12 -4.2%
148 Springfield, MA 194 186 -8 -4.1%
149 Houston, TX 1,390 1,335 -55 -4.0%
150 Lexington, KY 181 174 -7 -3.9%
151 Durham, NC 108 104 -4 -3.7%
151 Tulsa, OK 268 258 -10 -3.7%
153 Corpus Christi, TX 89 86 -3 -3.4%
153 El Paso, TX 89 86 -3 -3.4%
153 Salt Lake City, UT 206 199 -7 -3.4%
153 San Antonio, TX 388 375 -13 -3.4%
157 Springfield, MO 181 175 -6 -3.3%
158 Boise, ID 161 156 -5 -3.1%
158 Little Rock, AR 290 281 -9 -3.1%
160 Jackson, MS 206 200 -6 -2.9%
161 Syracuse, NY 144 140 -4 -2.8%
162 Shreveport, LA 116 113 -3 -2.6%
163 Huntsville, AL 118 115 -3 -2.5%
164 Colorado Springs, CO 132 129 -3 -2.3%
165 Greenville, SC 233 228 -5 -2.1%
165 Oklahoma City, OK 383 375 -8 -2.1%
167 Lubbock, TX 101 99 -2 -2.0%
168 Wichita, KS 216 212 -4 -1.9%
169 Kansas City, MO 663 651 -12 -1.8%
170 Dallas, TX 1,575 1,548 -27 -1.7%
171 Sioux Falls, SD 132 130 -2 -1.5%
172 Austin, TX 431 425 -6 -1.4%
172 Charlotte, NC 503 496 -7 -1.4%
172 McAllen, TX 142 140 -2 -1.4%
172 Omaha, NE 283 279 -4 -1.4%
176 Duluth, MN 80 79 -1 -1.3%
176 Reno, NV 80 79 -1 -1.3%
178 Charleston, SC 181 179 -2 -1.1%
178 Portland, ME 184 182 -2 -1.1%
180 Minneapolis, MN 728 723 -5 -0.7%
181 Lafayette, LA 155 154 -1 -0.6%
182 College Station, TX 69 70 1 1.4%
183 Fayetteville, AR 192 196 4 2.1%
184 Ogden, UT 87 89 2 2.3%
185 Des Moines, IA 208 213 5 2.4%
186 Nashville, TN 562 577 15 2.7%
187 Amarillo, TX 64 66 2 3.1%
188 Manchester, NH 89 94 5 5.6%
189 Brownsville, TX 70 74 4 5.7%
190 Provo, UT 80 85 5 6.3%

Source: DepositAccounts analysis of FDIC data between June 2020 and June 2023. Note: Metros are limited to those with populations of at least 250,000. Population data is from the U.S. Census Bureau 2021 American Community Survey with five-year estimates.

Nevada has the fewest branches per capita

We also examined the relative accessibility of bank branches in each state, based on the number of branches per capita. Here, Nevada emerged as having the fewest branches per capita through June 2023 (13.4 per 100,000 residents). That’s compared with the U.S. average of 22.8 per capita. Arizona and California followed Nevada, with 13.9 and 14.5 branches per capita, respectively.

 

These states placed relatively high among those that lost the most bank branches since 2020, coming in sixth, 11th and seventh, respectively.

3 states with the fewest branches per capita

Rank State Bank branches in 2023 Branches per 100,000 residents
1 Nevada 410 13.4
2 Arizona 986 13.9
3 California 5,729 14.5

Source: DepositAccount analysis of FDIC data from June 2023.

Looking at the other end of the spectrum, North Dakota had the highest number of branches per capita, at 50.9. South Dakota and Nebraska followed with 48.8 and 48.2 branches per capita.

As expected, these three states tended to be toward the bottom of our rankings for having the most lost bank branches over the past three years.

These states are in the Midwest (in fact, they share borders). And many Midwestern states tend to have less dense populations than other U.S. regions, such as the Northeast or South. So these states may not require as many branches to have high per-capita figures. Plus, the Midwest has seen particularly sluggish population growth over the past decade, further contributing to this trend.

Full rankings

States with the fewest branches per capita

Rank State Bank branches in 2023 Branches per 100,000 residents
1 Nevada 410 13.4
2 Arizona 986 13.9
3 California 5,729 14.5
4 Hawaii 218 15.0
5 Alaska 112 15.2
6 Utah 503 15.6
7 Oregon 751 17.9
8 New Mexico 392 18.6
9 Washington 1,424 18.7
10 Georgia 2,006 18.9
10 North Carolina 1,963 18.9
12 Maryland 1,177 19.1
13 Michigan 1,944 19.3
14 Florida 4,217 19.8
15 New York 4,085 20.3
16 Texas 6,021 20.9
17 Rhode Island 230 21.1
18 Virginia 1,835 21.4
19 South Carolina 1,113 21.9
20 Delaware 218 22.2
21 Idaho 417 23.0
22 Colorado 1,333 23.3
23 Pennsylvania 3,279 25.3
24 New Jersey 2,352 25.5
25 Indiana 1,728 25.6
26 Ohio 3,020 25.7
27 Connecticut 947 26.3
28 Alabama 1,329 26.6
29 Tennessee 1,857 27.1
30 Minnesota 1,547 27.3
31 District of Columbia 187 27.4
32 Louisiana 1,279 27.5
33 Illinois 3,538 27.6
34 Massachusetts 1,934 27.7
35 New Hampshire 381 27.8
36 Wisconsin 1,638 27.9
37 West Virginia 543 30.1
38 Oklahoma 1,209 30.6
39 Maine 432 31.8
40 Kentucky 1,436 32.0
41 Montana 354 32.8
42 Missouri 2,040 33.2
43 Mississippi 1,010 34.0
44 Vermont 222 34.6
45 Wyoming 206 35.7
46 Arkansas 1,209 40.2
47 Iowa 1,385 43.6
48 Kansas 1,300 44.3
49 Nebraska 941 48.2
50 South Dakota 430 48.8
51 North Dakota 394 50.9

Source: DepositAccount analysis of FDIC data from June 2023.

Bakersfield, Calif., has only 8.6 bank branches per 100,000 residents

When it came to per-capita branches in metros (again, with at least 250,000 residents as of 2021), there were four that had fewer than 10 full-service and retail branches per 100,000 residents through June 2023. Bakersfield, Calif., was at the bottom of this list, with just 8.6 branches per capita. Anchorage, Alaska (8.8) came in second, followed by Merced, Calif. (9.0), and Vallejo, Calif. (9.7).

 

It’s hard to nail down why certain metros have fewer bank branches per capita. For example, Bakersfield lost 10.3% of its bank branches between June 2020 and June 2023, but that was good for only 69th on our greater list. (The metro’s economy is primarily centered around agriculture, manufacturing, petroleum extraction and refining.)

Similarly, Anchorage had 12.5% fewer bank branches — five total — at the end of the examined period, but 42 metros saw a higher rate of losses.

Metros with fewer than 10 bank branches per 100,000 residents

Rank Metro Bank branches in 2023 Branches per 100,000 residents
1 Bakersfield, CA 78 8.6
2 Anchorage, AK 35 8.8
3 Merced, CA 25 9.0
4 Vallejo, CA 44 9.7

Source: DepositAccounts analysis of FDIC data from June 2023. Note: Metros are limited to those with populations of at least 250,000. Population data is from the U.S. Census Bureau 2021 American Community Survey with five-year estimates.

Meanwhile, Vallejo lost 18.5% of its branches in the observed period — the 10th-highest total among the metros examined. That, combined with a labor force that has yet to fully recover from the pandemic’s impacts, could make the metro a difficult place to do business, making it harder for banks to put roots down there.

Full rankings

Metros with the fewest bank branches per capita

Rank Metro Bank branches in 2023 Branches per 100,000 residents
1 Bakersfield, CA 78 8.6
2 Anchorage, AK 35 8.8
3 Merced, CA 25 9.0
4 Vallejo, CA 44 9.7
5 El Paso, TX 86 10.0
5 Visalia, CA 47 10.0
7 Riverside, CA 464 10.1
8 Lakeland, FL 80 11.2
9 Fresno, CA 113 11.3
10 Stockton, CA 88 11.4
11 Flint, MI 47 11.6
12 Las Vegas, NV 271 12.1
13 Tucson, AZ 133 12.8
14 Ogden, UT 89 12.9
14 Provo, UT 85 12.9
16 Virginia Beach, VA 238 13.3
17 Sacramento, CA 318 13.4
18 Fayetteville, NC 71 13.7
19 Modesto, CA 76 13.8
20 San Diego, CA 463 14.0
21 Phoenix, AZ 681 14.2
21 Salem, OR 61 14.2
23 Columbus, GA 47 14.4
23 Honolulu, HI 146 14.4
25 Palm Bay, FL 87 14.5
26 Oxnard, CA 124 14.7
27 San Antonio, TX 375 14.8
28 Albuquerque, NM 137 15.0
29 Pensacola, FL 76 15.1
29 Spokane, WA 87 15.1
31 Eugene, OR 58 15.2
32 Jacksonville, FL 242 15.3
32 Los Angele, CA 2,026 15.3
32 Yakima, WA 39 15.3
35 San Jose, CA 308 15.4
35 Santa Cruz, CA 42 15.4
37 Portland, OR 390 15.6
38 Kennewick, WA 47 15.7
39 Killeen, TX 74 15.8
40 Salinas, CA 70 15.9
41 Salt Lake City, UT 199 16.0
42 Durham, NC 104 16.2
42 McAllen, TX 140 16.2
42 Olympia, WA 47 16.2
45 Reno, NV 79 16.3
46 Lansing, MI 90 16.6
47 Ocala, FL 62 16.7
48 Atlantic City, NJ 46 16.8
48 Beaumont, TX 67 16.8
48 Bremerton, WA 46 16.8
51 Port St. Lucie, FL 82 17.0
52 Colorado Springs, CO 129 17.3
52 Hickory, NC 63 17.3
52 Spartanburg, SC 56 17.3
55 Atlanta, GA 1,047 17.4
55 Orlando, FL 457 17.4
57 Brownsville, TX 74 17.6
58 Deltona, FL 117 17.7
58 Detroit, MI 775 17.7
60 Augusta, GA 108 17.8
60 Greensboro, NC 137 17.8
62 Kalamazoo, MI 47 18.0
63 San Francisco, CA 874 18.5
64 Seattle, WA 737 18.6
64 Winston-Salem, NC 125 18.6
66 Baltimore, MD 530 18.7
67 Tallahassee, FL 72 18.8
68 Charlotte, NC 496 18.9
68 Houston, TX 1,335 18.9
70 Austin, TX 425 19.0
70 Columbia, SC 157 19.0
72 Rochester, NY 208 19.1
73 Santa Maria, CA 86 19.2
73 Tampa, FL 603 19.2
75 Santa Rosa, CA 96 19.5
76 Washington, DC 1,241 19.6
76 Wilmington, NC 56 19.6
78 Denver, CO 579 19.7
79 Minneapolis MN 723 19.8
79 Raleigh, NC 275 19.8
81 Laredo, TX 53 19.9
81 Richmond, VA 259 19.9
83 Asheville, NC 93 20.0
83 Buffalo, NY 232 20.0
85 Gainesville, FL 68 20.2
85 San Luis Obispo, CA 57 20.2
85 Utica, NY 59 20.2
88 Corpus Christi, TX 86 20.4
88 Savannah, GA 82 20.4
90 Dallas, TX 1,548 20.5
91 Dayton, OH 168 20.7
91 South Bend, IN 67 20.7
93 Boise, ID 156 20.8
93 Greeley, CO 67 20.8
93 Reading, PA 89 20.8
93 Youngstown, OH 113 20.8
97 Rockford, IL 71 20.9
98 Ann Arbor, MI 79 21.2
98 Clarksville, TN 67 21.2
98 Syracuse, NY 140 21.2
101 Cape Coral, FL 160 21.3
101 York, PA 97 21.3
103 New York, NY 4,284 21.4
104 Providence, RI 358 21.5
105 Erie, PA 59 21.7
106 Miami, FL 1,329 21.8
107 Grand Rapids, MI 237 21.9
108 Allentown, PA 189 22.0
108 Philadelphia, PA 1,365 22.0
110 Columbus, OH 470 22.1
111 Worcester, MA 216 22.2
112 Manchester, NH 94 22.4
112 New Orleans, LA 284 22.4
114 Fort Wayne, IN 94 22.6
114 Tuscaloosa, AL 60 22.6
116 Baton Rouge, LA 197 22.7
116 Charleston, SC 179 22.7
118 Akron, OH 160 22.8
118 Chicago, IL 2,187 22.8
120 Poughkeepsie, NY 159 22.9
121 Hagerstown, MD 67 23.0
122 Chattanooga, TN 130 23.2
122 Indianapolis, IN 485 23.2
124 Harrisburg, PA 137 23.3
124 Hartford, CT 283 23.3
126 Knoxville, TN 206 23.6
126 Waco, TX 65 23.6
128 Huntsville, AL 115 23.8
129 Canton, OH 96 23.9
129 Green Bay, WI 78 23.9
131 Memphis, TN 325 24.3
132 Birmingham, AL 271 24.4
132 Kingsport, TN 75 24.4
132 Montgomery, AL 94 24.4
135 Cleveland, OH 511 24.5
135 Fort Collins, CO 87 24.5
137 Amarillo, TX 66 24.6
137 Mobile, AL 106 24.6
137 New Haven, CT 213 24.6
140 Greenville, SC 228 24.8
141 Lancaster, PA 138 25.1
142 Madison, WI 170 25.2
143 Charleston, WV 66 25.3
144 Tulsa, OK 258 25.5
145 Gulfport, MS 106 25.6
146 Evansville, IN 81 25.8
147 Louisville, KY 332 25.9
148 Milwaukee, WI 410 26.1
148 Toledo, OH 169 26.1
150 College Station, TX 70 26.4
150 Norwich, CT 71 26.4
152 Oklahoma City, OK 375 26.5
153 Springfield, MA 186 26.6
154 Boulder, CO 88 26.8
155 Duluth, MN 79 27.1
156 Cincinnati, OH 613 27.3
157 North Port, FL 227 27.5
158 Lynchburg, VA 72 27.6
159 Trenton, NJ 107 27.8
160 Pittsburgh, PA 663 28.0
160 St. Louis, MO 789 28.0
162 Boston, MA 1,385 28.2
163 Myrtle Beach, SC 137 28.6
163 Shreveport, LA 113 28.6
165 Huntington, WV 104 28.8
166 Omaha, NE 279 29.1
167 Albany, NY 262 29.2
168 Nashville, TN 577 29.4
169 Kansas City, MO 651 29.9
169 Roanoke, VA 94 29.9
171 Bridgeport, CT 288 30.1
171 Longview, TX 86 30.1
173 Des Moines, IA 213 30.3
174 Lubbock, TX 99 31.0
175 Salisbury, MD 129 31.1
176 Crestview, FL 90 31.8
177 Davenport, IA 123 32.0
178 Lafayette, LA 154 32.1
179 Wichita, KS 212 32.9
180 Cedar Rapids, IA 91 33.1
181 Portland, ME 182 33.2
182 Naples, FL 124 33.3
183 Jackson, MS 200 33.6
184 Lexington, KY 174 33.8
185 Lincoln, NE 115 34.0
186 Peoria, IL 139 34.4
187 Fayetteville, AR 196 36.4
188 Springfield, MO 175 37.1
189 Little Rock, AR 281 37.7
190 Sioux Falls, SD 130 47.7

Source: DepositAccounts analysis of FDIC data from June 2023. Note: Metros are limited to those with populations of at least 250,000. Population data is from the U.S. Census Bureau 2021 American Community Survey with five-year estimates.

Another interesting facet is that seven of the 10 metros with the fewest bank branches per capita were in California. Unsurprisingly, the Golden State ranked seventh among the states that lost the most bank branches over the past three years, with 786 fewer (or 12.1% less) at the end of our observed period.

 

The collapse of two California banks (Silicon Valley Bank and First Republic) may make other banks skittish. And the mass exodus of residents — the state lost more than 500,000 residents in two years, according to ABC7 — no doubt had an impact.

3 things to consider when choosing a bank 

If you’re looking for a new bank, you’ll want to make sure it meets your unique needs. Here are a few key aspects you may wish to consider:

  • Whether you’ll get access to your ideal banking experience: Not everyone will care about whether a bank has physical branches. Online account management may be more important, so it can be essential to ensure it's available. But branches can provide much-needed perks for those who prefer to talk to someone in person. “Nearby bank branches can be one factor to consider, especially if you expect that you’ll need regular transactions that require a branch, like cash deposits,” Tumin says.
  • Recent lawsuits or enforcement actions against banks of interest: A banking relationship can provide access to valuable tools, such as certificates of deposits (CDs) and loans. But this relationship goes both ways, and it’s important to examine any possible lawsuits that a bank may have faced in recent years — and the context around them — when evaluating a new bank. For example, the Consumer Financial Protection Bureau (CFPB) issued an enforcement action to Bank of America in July 2023 for charging repeat $35 nonsufficient funds fees.
  • The costs (and profits) associated with accounts: As Tumin notes, account features such as interest rates and fees can significantly influence financial experiences with a given bank. After all, nonsufficient funds fees can add up fast, especially if you don’t have a steady source of income. It’s important to understand the potential impact on your bottom line. Some things you may wish to look out for include account minimums, ATM fees and interest rate discounts. 

“Don’t forget that it can often make sense to have multiple banks,” Tumin says. “It can be useful to have a checking account at a local bank or credit union and a high-yield savings account at an online bank. It’s easy to electronically transfer money back and forth. This allows you to earn more interest on your savings.”

Methodology

Using Federal Deposit Insurance Corp. (FDIC) data, DepositAccount researchers analyzed bank branch location data from June 2023 and compared it branch location data through June 2020 to calculate the changes in branch availability by state and metro.

 

Branches were limited to those designated as either full-service brick-and-mortar or retail locations. The metro analysis was limited to those with populations of at least 250,000 in 2021. Population data is from the U.S. Census Bureau 2021 American Community Survey with five-year estimates.

Related Pages: banking tools and data
Previous Comments
LovinSomeCDs
  |     |   Comment #1
Top ten states to close branches from 2020 - 2023 are all SOLID BLUE states. Hmm, interesting.

Those states LOST a ton of people to the South, so makes sense. Less people, less bank branches needed. Easy to understand.
SmittyInTheCity
  |     |   Comment #2
Im sure ppl switching to online banking is also a contributing factor. Granted, I didn't read this post so I could be wrong.
LovinSomeCDs
  |     |   Comment #3
So, only Democrats are switching to online banking? Weird.

Those pesky Republicans are probably still using dial-up internet, and listening to Taylor Swift on their walkmans!

;)
milty
  |     |   Comment #4
Sad, but probably true.
SmittyInTheCity
  |     |   Comment #5
LSCds: I mean the average Republican is older than the average Democrat. The younger generation carries less cash, use venmo, zelle, etc. This isn't a bash, but an observation as to why the younger generation feels no need to go to a bank.
Badlands
  |     |   Comment #8
This and lack of employees are the two main reasons. Of course, weirdos always have to twist themselves into pretzels to inject their politics into absolutely everything.
LovinSomeCDs
  |     |   Comment #9
Bad,
Its not people injecting politics into everything, its the world we live in that is ran on injecting politics into everything. Is it a good situation to be in? Id say no. But, just because I would say no doesnt mean I can pull a blanket over my head and pretend it doesn't exist. Ignorance is truly bliss though! :)
h_meister
  |     |   Comment #6
Curious if this analysis includes credit unions, as the methodology indicates the study was based on Federal Deposit Insurance Corp. (FDIC) data?
barry_NY
  |     |   Comment #7
Physical branches are needed by businesses. Fewer businesses, fewer banks.
The local merchant stops in the branch to get coins and dollars to make change. Then deposits cash at the end of the day. The contractor deposits cash from their day's job. Also, notary services. I have to take Canadian checks to the branch (can't remote deposit them).

Chase, primarily a business bank, shut down 2 out of 3 branches near my office. More banks branches then I can count in my area have closed. Where do I live? NY, a top blue state that is driving business out.
LovinSomeCDs
  |     |   Comment #10
Barry,
I can attest! All my neighbors in my southern state pulled up to their newly built home with NY plates.
Bowman
  |     |   Comment #14
Explains why Georgia turned blue.
LovinSomeCDs
  |     |   Comment #15
Atlanta is blue, but trust me, the rest of the rest is still ran very VERY red.
Rickny
  |     |   Comment #11
Barry You can get notary services at many places. UPS stores and some town clerks. I do rarely need a signature guarantee that has to be done at a bank.

Chase closed branches near me but both were in a mile of another. I'm lucky to have a Chase bank down the block. Another town near hada Chase branch that closed a few years back. This branch was always busy. They did cater to a close by poor community. Now they have no Chase branch near them.

Capitalone closed 4 of the 5 branches in my county.
Kaight
  |     |   Comment #12
"There Are 6,458 (or 7.9%) Fewer US Bank Branches"

Apropos of nothing written earlier in these comments:

I want to acknowledge the headline writer for this article, a portion of which headline appears above. It is gratifying today to witness the rare English speaking person who knows when to use "fewer" and when to use "less", and who understands the two words are not interchangeable. I remember a time when so many more people knew this. Thank you.
Buckeyes
  |     |   Comment #13
why give my interest income to the local bank instead of my family? I mean come on at least try to be competitive! The same applies to my many medicines that come in the mail for free. It's nice to have local banks and pharmacies when needed in an emergency. It's also nice have some sort of savings.. By my calculation using online banks and mail order pharmacies (optum) my own family's worth is 5 figures higher this year compared to not using them. I mean I like the people at these places in my very small village, but I have to do what I have to do this particular year with interest income predicted to crater in 2024.

I do however maintain a small checking balance and from time to time get a script locally just to maintain some sort of relationship in a village of less than 2,000. Being a retiree I really don't have much banking. Basically all I have had to do with them the past couple years is cash in some bonds, Plus my pharmacist drives an 80K truck so I really don't think his bottom line is hurting. That or he's a financial moron like half the country.

Inflation is really hard on retirees who get minimal $$$ increases. Many of us are going back to work. We have to look for every nickle we can in a world where unions are driving salaries into the stratosphere, like the UPS contract, where rates increased 6% the day after the teamsters did their thing. It's a difficult time for my fellow seniors, with no end in sight. So we have to do what we have to do! It's not greed, it's survival, but unfortunately most will never explore what online banks, today, have to offer. Ive educated my brothers and sisters, and now they have online accounts. Maybe I should put an ad out there on Facebook to offer my services :)
LovinSomeCDs
  |     |   Comment #16
interest income will not crater, it is here to stay. The world of 3% mortgages and 1.5% car loans are behind us...and thats a GOOD THING!
Buckeyes
  |     |   Comment #17
I hope so. Last year I took a risk with a company called Tellus just to get between 3 and 4 % because I was desperate. They are still in business offering about 6%, but they are not FDIC insured. I closed my account. They were very professional and everything was fine, but too risky for these old bones. I really hope to the heavens you are right, as they like to punish savers. Not American to save.
P_D
  |     |   Comment #18
Has anyone else noticed a sharp deterioration in the quality of customer service at financial institutions over the last year? It has been declining for some time, but over about the last year I have noticed a massive nose dive. I have never experienced customer service as poor as I have from multiple financial institutions. Some routine administrative tasks have taken multiples of the time they used to to get done, had many times more mistakes that had to be carefully monitored to assure they were corrected and even after reported took excruciatingly long to get resolved, had abysmal communication from the FIs and had broken promise after broken promise about giving notifications, follow-ups and sticking to time estimates for completion.

Maybe the bank closures are a part of the issue. Can't be good for employee morale.

There is one particular brokerage firm that is causing me to make an entire career out of a routine administrative task that I have done with the same brokerage firm in the past with no problems. A process that should have taken about two weeks max, is now on day 34 with no end in sight with no reason for the delay. It's a not so difficult for them but critical for me administrative task and the delay is costing me a lot of money.
111
  |     |   Comment #19
I have, but I'm not convinced it's any worse (or any better, for that matter) than customer service in many other types of businesses these days.
P_D
  |     |   Comment #20
I mean so far I managed to get this particular issue with this large brokerage firm escalated up two levels to VP (no mean feat) and I still get no joy. CEO next or bust!

As part of a bigger project I allotted a 50% overestimate of the time this task would take as a safety margin and have now more than twice exceeded that. It is ****ing up my entire plan.

I am supposedly on their highest level of customer service based on the level of assets I have in this brokerage. The special dedicated "client relations manager" they assigned me is completely useless.  I have to go to even more trouble just trying to bypass her since I am better off without her.  If this is their super secret super duper level of service I can't imagine what most people are getting.  
txFish1
  |     |   Comment #21
Yes I noticed the dropoff at the FI's that I use. One particular CU that I have used for 15 years used to be almost perfect and just in the last 1-2 years I have had to correct way too many clerical errors that should have never happened. Heck one of the errors was an incorrect interest rate on a CD and it was not in my favor. As far as Brokers go I hate to mention Fidelity because I have been with them for 20+ years with hardly a mistake on their end but in the last year or so I have had a few issues and it takes a huge undertaking to get them resolved. They still owe me several hundred dollars of interest on a brokered CD that I purchased and it was not due to settle until 2 weeks after I bought it and they took the money out of my money market the day I placed the order. I deal with a VP at a local branch and he is still trying to credit me the money back and that has been a while ago even though he acknowledges the money should not have come out until the steelement day.
P_D
  |     |   Comment #22
I also had a recent issue at Fidelity but fortunately it was minor and they fixed it quickly. This is a different major broker and the guy I got it escalated to was a corporate VP, not just a branch. I'll grant that he's only had it for a couple of days, but it still should have been resolved instantly. Tomorrow is my deadline before I take additional measures. BUT! Just now I saw a sign that it may be moving! Break out the beer! :D

Another scary thing...

I have had several incidents of FI's failing to authenticate me when I called them to discuss my accounts over the past few months.  I would say about 5 such incidents at about 3 different FIs.  That was shocking, my blood ran cold when they were reading me sensitive information and I was never even authenticated.  I mean what the heck is going on.  I don't think that has ever happened to me before.  I contacted managers after the calls to report it.
LovinSomeCDs
  |     |   Comment #23
PD,
Have you walked into a restaurant in the past 2 years!? The employees appearances alone makes me walk right back out. If a "customer facing employee" looks like that, what do you think the guy handling your food in the kitchen looks like?! I think with the labor market being so tight, restaurants, banks, retail, car dealerships, etc etc are hiring people they would have never even considered pre Covid.
txFish1
  |     |   Comment #25
LovinSome Exactly! A Credit Union I belong to that has a branch right down the road from me has had 100% employee turnover since covid started. The employees used to be competent and able but not so much now. I try not to be judgemental but every time I leave the branch I ask myself do I really want them to handle my money. Makes me almost want to transfer all my money to Fidelity and just buy Treasuries and a few Brokered CD's.
txFish1
  |     |   Comment #24
One of the managers at USSFCU that was trying to help me with an issue recently admitted to me that they have an awful lot of new hires and they were working through some training issues. I have never had that happen where a CSR did not authenticate me before talking about sensitive info but that would be alarming to say the least!
P_D
  |     |   Comment #26
Yes and it happened at a major financial institution more than once. It was shocking.
LovinSomeCDs
  |     |   Comment #27
Again, ive said this before, and Ill say it again. I only work with 2-3 FIs to handle large sums of money. Fortunately, they HAVE NOT been plagued with subpar employees, even after Covid. I gladly take the .25% hit to keep my funds with them, as customer service is still high level. Plus, Ive saved a ton of money NOT going out to eat the past 3 years though, so thats a good thing. I will continue to boycott restaurants as long as the staff teams continue to look like leper colonies.

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