I'll have a full piece on this in the weekend paper. Here's a sample with some extra data.
At a time when many banks and credit union are seeing less people using branches, Rochester is in the midst of a mini-branch building boom.
In 2009, banks had U.S. 99,550 branches, according to the Federal Deposit Insurance Corp. By the end of 2015, that national number fell to 92,997.
Rochester has 46 bank branches and five credit union branches. That's a bank or credit union branch for every 2,093 of Rochester's 106,769 residents.
Rochester is the bucking the national trend when it comes to branches. The easy answer to the question of why is the Med City's robust economic growth powered by Mayo Clinic makes it attractive for banks and credit unions.
However, each institution has their own ideas about branches.
• Altra Credit Union has purchased two parcels to build future branches.
• West Bank has a large branch under construction along West Circle Drive.
• Think Mutual Bank is building a new branch in northeast Rochester.
• La Crosse, Wis.-based Coulee Bank is transforming the former Family Service Rochester building on Civic Center Drive into a branch.
Data from Minnesota Bankers Association
• For the record, Duluth has 35 bank branches. I don't know how many credit union branches. Duluth has a population of 86,277.
• Mankato has 28 bank branches. I don't know how many credit union branches. Mankato has a population of 39,396.
A national study found most bank chains in the U.S. reduced their number of branches in 2015.
• Wells Fargo - 6,272 branches down 39 from 2014
• US Bank - 3,209 branches down 35 from 2014
• Associated Bank - 224 branches down 13 from 2014.