Pennsylvania sees biggest national loss in bank branches

"The Internet remains the most popular way to bank but mobile banking is the fastest growing, according to a survey of 1,000 U.S. workers by The American Bankers Association. And that is probably one reason why the number of bank branches continues to recede. Pennsylvania experienced the largest net loss of branches between July 1, 2012 and June 30, 2013, according to data from SNL Financial.

The ABA study asked respondents which method they used to manage their bank accounts. Internet banking was by far the most popular at 39 percent in 2012 and 2013. Branches were second at 18 percent—also the same as 2012—followed by ATMs at 11 percent (down from 12 percent last year). Mobile banking was the only banking method that increased in popularity over the past year, moving from 6 percent to 8 percent and, in the process, passing mail and telephone banking." Continue Reading