The number of bank branches in Rhode Island is down slightly since before the pandemic. And the percentage of households in the state that still use physical bank locations is the fourth lowest in the nation, according to a recent report.
But new and remodeled bank branches continue to pop up across the state.
Your Business Has Gone Global. Has Your Insurance?
A decade ago, “doing business internationally” was mostly a large-company concern. Today, a manufacturer in…
Learn More
The main reason why is that many community banks in particular still see brick-and-mortar branches as a competitive advantage in a state where nearly 40% of residents are over 50.
And nearly 80% of Rhode Islanders are still using brick-and-mortar branches, according to the that recent report from Upgraded Points LLC.
What is changing is the smaller size of many new and remodeled local branches and the technology-aided services being offered.
