October 2, 2026, Traverse City Business News, Growth, Consolidation or Both?: Bank branch expansion and contraction in northern Michigan
Much has been made in recent years about the decline of brick-and-mortar banking. According to the National Community Reinvestment Coalition, the United States lost about 7,500 brick and mortar bank branch locations between 2017 and 2021, bringing the country’s total number of branches to less than a third of what it was in the mid-1980s.
The closures don’t necessarily seem to be slowing down, either. Branchspot, a website that tracks bank branch closures and the emergence of “banking deserts” nationwide, reports that 941 banking branches have closed in the U.S. this year. With 54 branches closing, Michigan has seen the fifth most closures of any state this year.
