The world of banking has changed. There was a time when people took their paychecks to the bank to the deposit and then withdrew cash , at a time before Electronic Banking and before ATM existed.
Nowadays there are few transactions that cannot be conducted online or through the ATM.
Offhand it’s hard to think of what transactions that you must go visit the bank and talk to a human being. Perhaps if you are getting a loan and need to go inside the bank and sign paperwork with an actual pen and not online with an e-signature?
You know where all this is going.
ONE BANK TO RULE THEM ALL.............................
The only reason to have local banks is they are involved in local business loans. I am a investor in a local startup bank.
Their primary business is loans to local small businesses. Dentists, doctors, builders, electricians, plumbers, etc. Small business loans that the larger banks really do not have an interest in doing.
In addition, they opened up a second branch in the wealthiest suburb around. There was another bank in that town that shut down their branch. It again has been a huge success because of the new deposits. Checking and savings accounts that pay .1% interest or less. Its a license to print money.