More bank branches closing
Weak economy, tighter rules prompt decision
By Todd Wallack
For the first time in 15 years, banks across the United States are closing branches faster than they are opening them, eliminating locations in Massachusetts, other parts of New England, and the rest of the country.
Bank of America, the nation’s largest bank, plans to close 1 in 10 branches nationwide by 2014, including some in Massachusetts. Webster Bank of Waterbury, Conn., plans to close a half-dozen branches, including one in Mansfield, in October. Rockland Trust and Community Bank of Brockton are each closing three branches.
Overall, banks have eliminated more than 1,400 US locations in the past two years. And almost every week, more branches go dark.