Bank Contraction Continues

Yet another bank seems to have closed in Georgetown. Over the last couple days, it appears that BB&T Bank closed its location at Wisconsin and O St.

This would be the fifth bank location to close in Georgetown over the last several years. That list includes the full branches of Capital One (at Q and Wisc.), HSBC (at R and Wisc.), and M&T Bank (at O and Wisc.) and an ATM location for Chase Bank near the Key Bridge.

This growing trend comes after a longer period when Georgetown was inundated with bank branches. Near the beginning of 2020, there were 18 bank locations in Georgetown. So even considering all the bank closures since, we’ve still got 13 banks around, often acting as huge wastes of retail space. No other bank typifies this more than the Chase Bank at P and Wisconsin, which is a tragic misuse of a property that could be (and has been) so, so much more.


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