Brick-and-Mortar Banking Remains Prevalent In Digital World: FDIC

Despite an increasingly virtual banking world, the prevalence of thousands of brick-and-mortar offices offers sufficient testimony to the enduring value of physical access to banking services, according to an FDIC report.

FDIC in its latest quarterly report titled: “Brick-and-Mortar Banking Remains Prevalent in an increasingly Virtual World” notes office growth has outpaced the nation’s population growth over the long term.

Prevalence of brick-and-mortar banking

The FDIC report points out that as of June 2014, about 6,669 banks and thrifts continued to operate 94,725 brick-and-mortar offices, signifying their importance as a vital banking channel. The report chronicles long-term trends in the banking offices operated by federally insured banks and thrift institutions from 1935 to 2014.

Focusing on the long-term growth of offices in...