PNC's $4.1 billion cash and stock deal to buy FirstBank means the consolidation of yet another regional bank. It also comes as banks — such as JPMorgan and Wells Fargo — are shuttering branches to save money and adapt as more people conduct their banking online and via mobile apps.
According to S&P Global, 148 bank branches closed in the first quarter of 2025. The list of banks that have announced nationwide branch closures includes Wells Fargo, TD Bank, JPMorgan Chase, Bank of America, and Flagstar. The closures followed a particularly busy 2024, during which 965 bank branches closed their doors, S&P Global reports.
