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Branch closures hit record high in 2020 with Pennsylvania No. 3 among states that shed the most

By Patty Tascarella

Bank closures across the Pittsburgh region PNC ranked third in the U.S. for net branch closures last year. Its 2-year-old prototype branch in Pittsburgh's Waterfront development, pictured here, is much larger than the solution centers PNC has been opening in new metros.

By Patty Tascarella

PITTSBURGH — Two of the biggest banks in Pittsburgh confirmed branch closures this week — PNC Financial Services Group Inc. plans 20, KeyCorp put at least 70 on the chopping block.

That gets 2021 off to a fast start as the country comes off record closures last year.

U.S. banks and thrifts consolidated 3,099 branches last year, while opening 982, which results in 2,117 net closures, according to a new report by S&P Global Market Intelligence. That easily beats the old record of 1,884 in 2017.

Read more from our news partners at the Pittsburgh Business Times.

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