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Fewer bank branch locations in Badger State

by
Bank
Bank

MADISON, WI (WTAQ) - Wisconsinites are finding fewer places to do their banking.

The FDIC said Tuesday that the total number of bank branches dropped by almost one-and-a-half percent over the past year, to 2,287 as of June 30th.

Wisconsin has lost over 100 bank branches since the Great Recession made its presence known in 2008. Officials say banks have been cutting expenses to cover higher regulatory costs – and to make up for bad loans during the troubled economy.

Some analysts say a growth in online banking has reduced the need for at least some brick-and-mortar facilities.

Metro Milwaukee has 577 bank branches this year – 35 fewer than in both 2008-and-’09.

Nationally, bank branches dropped by almost one-percent, to just over 97,000.

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