Banks swap more than 400 branches in 2014

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U.S. Bancorp added 103 branches in the Chicago area in a deal with Royal Bank of Scotland.

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Greg Edwards

Reporter- St. Louis Business Journal

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Bank branches have been changing hands at a furious pace this year, with 410 branches acquired in 70 deals in the U.S. That's up from 288 branches in 73 deals in 2013, SNL Financial reported.

Illinois has had the most swaps, 119 branches, due in large part to Royal Bank of Scotland Group's sale of 103 branches to U.S. Bancorp in the Chicago area.

Rounding out the top five: Texas, with deals involving 49 branches; Michigan and North Carolina, each with 24 branches; and California, with five branches.

St. Louis is chock full of bank branches with 922 — more by far than Cincinnati, Indianapolis, Kansas City, Louisville, Memphis, Milwaukee, Minneapolis-St. Paul and Nashville, a Business Journal survey found.

Banking, Financial Services