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Banks Shutter 1,700 Branches in Fastest Decline on Record

Published Monday, February 5, 2018

“Bank of America’s adjusted earnings in 2017 matched its highest annual profit ever. The bank closed or sold more than 1,500 branches since 2009, including the vast majority of its rural branches. The closures have helped the bank save on occupancy and employee costs, bringing down overall expenses. The lower expense levels have bolstered bank profit. Some closures involve banks leaving rural areas because branches there aren’t profitable enough, according to the Journal analysis. Since mid-2012, PNC has cut its branches in rural areas and small towns by nearly one-third. SunTrust has cut its rural branches almost by half.”



North Carolina Struggles to Draw Businesses to Countryside

Published Monday, January 22, 2018
In North Carolina, the economic challenges are geographic: The state can readily lure business to its fast-growing cities but struggles to sell its vast rural territory. The issue was underscored this month when Raleigh made the shortlist of sites for Amazon.com Inc.’s second headquarters, but the state lost out to Alabama on a $1.6 billion more»