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South Florida

Florida ranks fourth in bank branch closures: report

BB&T
BB&T

Florida saw the fourth largest loss of bank branches in the U.S. over a 12-month period through September, the South Florida Business Journal reported, citing SNL Financial data.

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While 99 branches opened in Florida during that time, 178 shut down, giving a net loss of 79. Each quarter showed more closings than openings. The third quarter this year in Florida saw more closing than in any other state. Overall, though, Pennsylvania, North Carolina and Georgia top it with net losses of 109, 92 and 81, respectively.

In July, North Carolina-based Branch Banking & Trust sold a building in Coral Gables that formerly housed its former branch for $5.3 million. The branch on the ground floor of the 17,103-square-foot building at 1533 Sunset Drive shut down after the acquisition of the Fort Lauderdale-based community bank BankAtlantic, as previously reported. [South Florida Business Journal] — Mark Maurer

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