ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
Banking institutions have seen local deposits grow while the number of offices in Central Florida has fallen, according to data revealed in the latest Federal Deposit Insurance Corporation market report.
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Orlando Business Journal analyzed the past 10 years of FDIC data, showing that Central Florida has lost 203 banking offices – going from 858 in 2014 to 655 in 2023. Experts attribute this change to customers switching to online banking.
Alex Bisbee, a commercial brokerage adviser with Clearwater-based Insite Real Estate Inc., previously told OBJ, “There’s still a lot of banks carefully doing deals and repositioning to higher-profile areas.”
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Click here to read the full story on the Orlando Business Journal’s website.
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