ABA Banking Journal - January 2013 - (Page 14)

ABA community banking the branch decision Time to close underperforming branches? Bankers need sharp shears, applied with care  B ranches are being closed at an unprecedented rate. Since the onset of the economic downtur n in mid-year 2008, the net number of bank branches nationwide has declined an unprecedented four consecutive years by an aggregate of 2,346 offices, to total fewer than 83,000 branches today. Bank of America, Hancock Holding, KeyCorp, Old National, and a host of others have announced that substantial numbers of underperforming offices will be consolidated or shuttered. Other big institutions—including PNC and JPMorgan 14  |  ABA BANKING JOURNAL  |  January 2013 Chase—are deploying state-of-the-art branch technologies and enhancing social-media marketing to mitigate the impact of declining branch traffic. FirstMerit, which recently announced a $1.3-billion acquisition of Citizens Republic, earlier this year eliminated the branch position of assistant manager in an effort to substantially reduce branch operating expenses. Even small community banks, which generally avoid the “big bank” approach to reducing service, are taking a second look at their branch networks for expense-reduction oppor- Photo: Alexander Raths/shutterstock By Jeffrey L. Morris and Paul Simoff, Austin Associates

Table of Contents for the Digital Edition of ABA Banking Journal - January 2013

ABA Banking Journal - January 2013
Contents
Chairman’s View
Editor’s Column
The Economy
Bank Notes
Picture This
ABA COMMUNITY BANKING Time to prune that branch?
Pass the Aspirin
Tech Topics
COVER STORY: The road ahead How banking may fare in Washington
Insurance: How well are you covered?
Compliance Special Report
Compliance Inbox
ABA At Your Service
Convention Preview
First Person

ABA Banking Journal - January 2013

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