The Great Consolidation: Community Banking Decline in Greater Philadelphia

The Great Consolidation: Community Banking Decline in Greater Philadelphia

Product No.: 24138
Date Published: 01/2024

View/Download PDF

If you would like to request a printed copy (or copies) of this product, please call DVRPC at 215-592-1800 or email the staff contact listed below. If you would like to request this publication or portion of this publication in another language or format, please fill out a request form.

Community banks play an important role in local and regional economies. However, since the 1990s, bank mergers and acquisitions have led to a decline in community banks, and the socioeconomic benefits associated with them. Nationally, this trend is referred to as the Great Consolidation, and a regional analysis indicates that the trend is playing out across Greater Philadelphia as well. In fact, between 2012 and 2022, 405 branches closed across the region, representing a closure rate of 22.4 percent. Comparatively, the loss rate for community bank branches during that same period was significantly higher at 49.6 percent. Since corrective legislation is generally beyond the reach of municipal leaders and local influence, this report provides 12 local strategies that can be employed to offset the negative effects of the Great Consolidation. These strategies range from physical realm interventions, such as zoning changes and adaptive reuse policies, to municipal lending programs and bank formation, which aim to increase access to capital.

Geographic Area Covered: Nine-County Greater Philadelphia Area

Key Words: Bank Desert, Community Bank, Community Revitalization, Equitable Economic Development, Entrepreneurialism, Financial Inclusion, FinTech, Great Consolidation, Local, Main Street, Small Business, Unbanked, Workforce Automation

Staff Contact(s)

Translation Request

DVRPC’s publications or portions of publications can be translated in alternative languages and formats if requested. To request translation, please submit the form below. You can also contact DVRPC’s Office of Communications & Engagement at 215-592-1800 or

Title VI Statement

The Delaware Valley Regional Planning Commission (DVRPC) fully complies with Title VI of the Civil Rights Act of 1964, the Civil Rights Restoration Act of 1987, Executive Order 12898 on Environmental Justice, and related nondiscrimination mandates in all programs and activities. DVRPC's website,, may be translated into multiple languages. Publications and other public documents can usually be made available in alternative languages and formats, if requested. DVRPC’s public meetings are always held in ADA-accessible facilities, and held in transit-accessible locations whenever possible. Translation, interpretation, or other auxiliary services can be provided to individuals who submit a request at least seven days prior to a public meeting. Translation and interpretation services for DVRPC’s projects, products, and planning processes are available, generally free of charge, by calling (215) 592-1800. All requests will be accommodated to the greatest extent possible.

Any person who believes they have been aggrieved by an unlawful discriminatory practice by DVRPC under Title VI and/or ADA has a right to file a formal complaint. Any such complaint must be in writing and filed with DVRPC's Title VI Compliance Manager, Alison Hastings, and/or the appropriate state or federal agency within 180 days of the alleged discriminatory occurrence. For more information on DVRPC's Title VI program or to obtain a Title VI Complaint Form, please visit:, call (215) 592-1800, or email

Air Quality Partnership
Annual Report
Connections 2050
Infrastructure Investment and Jobs Act (IIJA)
Economic Development District