General Trends in the United States
Branch Decline: The number of bank branches in the U.S. has steadily declined since peaking at 83,000 in 2008, reaching 70,000 by June 2023. This represents an annual decline of 1.5% over 11 years.
Causes: The decline is fueled by the decreasing number of federally insured commercial banks, mergers due to government deregulation in the '80s and '90s, and the impact of the 2007-2009 financial crisis. The rise of digital banking and changes in consumer preferences have also reduced the need for physical branches.
Florida Specifics
Current Statistics: As of January 1, 2022, Florida had 3,813 bank branches across 38 banks. This number has slightly decreased to 3,575 branches.