Florida No. 3 for Bank Branch Closings

11:08 am
Wed January 23, 2013

Florida No. 3 for Bank Branch Closings

Lead in text: 
Following a nationwide trend of bank closings, Florida had a net loss of 18 bank branches in last year's fourth quarter. That's according to new figures from SNL Financial. Only Indiana and Pennsylvania fared worse. Experts attribute the closings to low interest rates and expect the decline to continue. Bank of America had biggest net loss -- 47 branches nationwide. JPMorgan Chase & Co. added the most offices -- 16 -- and is focusing on expanding in Florida and California, the SNL report said.
Florida has had a net loss of 18 bank branches in the fourth quarter of 2012, a bigger net loss than all but two other states in the nation. While 31 bank branches opened in Florida in the three months ended Dec. 31, 49 branches closed, according to a report from SNL Financial.
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