NE Ohio ranks 2nd in nation in growth of bank branches

NE Ohio ranks 2nd in nation in growth of bank branches

Associated Press

COLUMBUS, Ohio

Ohio saw banks adding new branches in the state while most of the rest of the nation saw them decline.

The Columbus Dispatch reports that banks added more brick and mortar branches in Ohio than any other state except California in the 15 months ending Sept. 28.

Northeast Ohio was second only to the Los Angeles region in the scope of such growth.

Huntington Bancshares and JPMorgan Chase & Co. opened the most new branches across the country.

Huntington’s Mary Navarro says more branches help growth because of convenience to customers and potential customers.

The newspaper cites data from financial news service SNL Financial indicating that banks nationwide have been steadily adding branches from 1970 until 2009 when there were more than 100,000.

Ohio has about 4,400 bank offices with about 700 in the Cleveland area and 600 in the Columbus area.

Read the full story Monday in The Vindicator and on Vindy.com