Bank Branches in Retreat: Here Comes the Neighborhood!

Just when you thought that every last mom-and-pop store in your neighborhood was succumbing to yet another garish, badly designed bank branch, comes good news: the Invasion of the Bank Branches is coming to an end.

A massive expansion in bank branches during the economic boom -- some 10,000 opened between 2004 and 2005 -- is giving way to closings, cost cutting and retrenchment after many banks merged or went belly up as the real estate market collapsed. In fact, the Wall Street Journal reports, the total number of retail bank branches in the country will decline this year for the first time since 2002.

If you're worried about not finding a local branch near your home, never fear: There are still 98,913 bank branches still open and ready to make you wait in line. The good news is that your neighborhood may just regain some of the diversity and vitality that once characterized our cities and towns before the boom priced out smaller merchants.