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The Day - Conn. losing bank branches at more than twice the national rate - News from southeastern Connecticut

Published February 22. 2021 1:30AM
Luther Turmelle, New Haven Register
Connecticut is losing bank branches at a faster rate than the rest of the country.
And while customers are using online and mobile apps more and more to do their banking business, at least one industry analyst doesn t see physical locations disappearing entirely.
Over the last decade, the number of bank branches in the state has dropped by 201 locations, for an overall closure rate of 16 percent, according to John Carusone, president of the Bank Analysis Center, a Hartford-based industry consulting firm. The national closure rate over the same period was 6 percent, Carusone said. ....

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Next window, please: CT losing bank branches at more than twice the national rate

Next window, please: CT losing bank branches at more than twice the national rate
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A Webster Bank branch at 975 S. Main St. in Cheshire, Feb. 18, 2021. In late December 2020, Webster Bank announced it was closing 16 branches in the state, including offices in Cheshire, Bethany and Hamden.Peter Hvizdak / Hearst Connecticut Media
Connecticut is losing bank branches at a faster rate than the rest of the country.
And while customers are using online and mobile apps more and more to do their banking business, at least one industry analyst doesn’t see physical locations disappearing entirely.
Over the last decade, the number of bank branches in the state has dropped by 201 locations, for an overall closure rate of 16 percent, according to John Carusone, president of the Bank Analysis Center, a Hartford-based industry consulting firm. The national closure rate over the same period was 6 percent, Carusone said. ....

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People's United may keep open some Stop & Shop branches | Hartford Business Journal

By Zachary F. Vasile, Journal Inquirer
People’s United Bank says it’s in talks with Stop & Shop to keep at least some of its in-store branches open.
The Bridgeport-based lender suggested in a statement it could spare a handful of counters under the right conditions, a change from its earlier position that all such branches would eventually cease operations.
“We remain fully invested in our branch network and will continue to evaluate opportunities to strengthen our branch presence,” the statement read. “Conversations with Stop & Shop are positive and ongoing for the potential of a modest number of in-store branches to remain open in strategic locations. As these decisions are finalized, we will communicate details well in advance.” ....

New York , United States , South Windsor , East Hartford , Sara Longobardi , People United Bank , Stop Shop , United Bank , Hartford Based United , Bigy World Class Markets , புதியது யார்க் , ஒன்றுபட்டது மாநிலங்களில் , தெற்கு விண்ட்சர் , கிழக்கு ஹார்ட்ஃபோர்ட் , சாரா லாங்கோபார்டி , மக்கள் ஒன்றுபட்டது வங்கி , நிறுத்து கடை , ஒன்றுபட்டது வங்கி , ஹார்ட்ஃபோர்ட் அடிப்படையிலானது ஒன்றுபட்டது ,

People's United Bank to phase out branch operations in Stop & Shop stores

People s United Bank to phase out branch operations in Stop & Shop stores
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A People s United Bank sign displayed outside of the Stop & Shop in Milford on Friday.Arnold Gold / Hearst Connecticut MediaShow MoreShow Less
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A People’s United Bank sign displayed outside of the Stop & Shop in Milford.Arnold Gold / Hearst Connecticut MediaShow MoreShow Less
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People s United Financial headquarters in Bridgeport in January 2018.Alexander Soule / Hearst Connecticut MediaShow MoreShow Less
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BRIDGEPORT People’s United Bank customers soon may have to add another stop to their list of errands.
For more than two decades, People’s United Bank has maintained branches in Stop & Shop supermarkets, but that is about to change. ....

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