KeyCorp closing 70-plus branches, here’s what we know about Pittsburgh’s 7th-largest bank’s plans

PITTSBURGH — One of Pittsburgh’s biggest banks is closing more than 70 branches, about 7% of its retail network, by mid-year.

KeyCorp CEO Christopher Gorman said the Cleveland-based bank is accelerating the pace of branch closures during its fourth-quarter 2020 earnings call with financial analysts on Thursday morning. The cuts are due to the continuing industrywide trend of customers shifting to digital transactions.

“We expect limited client attrition as a high percentage of the impacted branches are located within two miles of another Key facility,” Gorman said.

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