Dear MisHum: Relax!

It's likely that you've seen this story (or a variant) in the last few days.  The Wackos play this up as though all the Banks are preparing to go under, taking your money with them.

Between Nov. 12 and 18, several banks filed to close branch locations, with PNC Bank with the most filings, according to data from the U.S. Office of the Comptroller of the Currency. Pittsburgh-based PNC Bank filed for 19 branch closures—five in Pennsylvania, four in Illinois, three in Texas, two each in Alabama and New Jersey, and one each in Indiana, Ohio, and Florida.

JPMorgan Chase followed closely with 18 filings—three in Ohio, two each in Connecticut and South Carolina, and one each in 11 states, including New York, Illinois, Florida, and Massachusetts....

That story mentions another couple of bank branch-closings.  AOSHQ's Misanthropic Humanitarian picked it up and asks if it's a cause for worry.

Really?  The End of the World As We Know It?

Banks close branches for a number of reasons, but one BIG one is "spicy neighborhood" and another one is "nobody banks here any more."  Those are very closely related reasons.  Also:  banks make money on lending.  If the neighborhood doesn't have borrowers, OR if the borrowers are low-quality, there's not much point in heating, cooling, leasing, and staffing offices, is there?

MisHum only needs to look at "branch closings" of Walgreen's, Target, Wally World, Kroger, (et.al.) for a good comparison.  Theft is more a problem with the retailers than it is with the banks, but the same principles apply.