Member Exclusive

Research: Bank branches are disappearing from rural America

  • Banks continue to close branches around the US.
  • While many communities have fewer branches today, poorer, more rural communities are hit the hardest.
close

Email a Friend

Research: Bank branches are disappearing from rural America

Banks continue to rationalize their real estate footprints across the U.S. They are closing bank branches and reinvesting in digital channels across markets. For the most part, the emergence of digital channels replaces the need for many customers to visit a banker in person.

But for poor, rural communities, the evolution to digital is happening at a slower pace than branch closures are, leaving customers underbanked and increasingly, unbanked, according to research from the Federal Reserve Bank.

Here’s what the data show:


This content is available exclusively to Tearsheet Outlier members.

Tearsheet Outlier information and signup

Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — $59/mo

Already an Outlier member?

Sign in to your account  

0 comments on “Research: Bank branches are disappearing from rural America”

Member Exclusive

Outlier Briefing: TransferWise’s head of policy Nick Catino on the CFPB’s final Remittance Rule

  • The CFPB's new guidance on the Remittance Rule is a step back for transparency around pricing.
  • TransferWise's Nick Catino puts it in context and charts a future that follows Europe's lead.
Zachary Miller | June 16, 2020
Member Exclusive

Outlier Briefing: The emerging use cases for AI in financial services with Emerj’s Dan Faggella

  • Dan Faggella is a global expert on the use of AI in financial services.
  • He briefs Outlier members on the impact AI can have on the enterprise and with customers.
Zachary Miller | May 11, 2020
Member Exclusive

4 charts on fintech investments moving to lending, expectations for more M&A

  • 2020 has already been a turbulent year for financial services during the pandemic.
  • While not a record year, 2019 was the second best year in history for fintech investing.
Zoe Murphy | May 08, 2020
Member Exclusive

Outlier Briefing: The march towards digitization in banking with Publicis.Sapient’s David Donovan

  • In his financial services practice, David Donovan works with most of the largest banks in the world.
  • He delivers this briefing on where digitization is headed and why it's so important to get right.
Zachary Miller | April 24, 2020
Member Exclusive

Outlier Briefing: Best practices in financial services branding in the COVID-19 era with Landor’s Louis Sciullo

  • Louis Sciullo spent nearly three decades on Wall Street managing Lehman Brothers' and Barclays' brands.
  • He joins us for an exclusive briefing on managing financial brands through and beyond this current crisis.
Zachary Miller | April 17, 2020
More Articles