So far this year, banks and thrifts have completed 70 branch acquisition deals that involved 410 branches.
According to SNL Financial analysis, the acquisitions made through Oct. 15, were a significant increase compared to the 288 branches that changed hands in the 73 deals completed in 2013.
The overall number of branch deal announcements, however, has remained relatively steady since 2010 when 80 deals that involved 197 branches were announced, SNL Financial said in a prepared statement.
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Nevertheless, the number of branches involved in these deals has risen significantly in recent years.
For example, since the start of 2012, banks and thrifts announced 13 deals involving 20 or more branches including four deals in 2014 through mid-October. By comparison, from 2002 through 2011 SNL found only 11 deals involving 20 or more branches.
So far in 2014, banks have announced sales involving 119 branches in Illinois, the most of any state this year due to the Royal Bank of Scotland Group's sale of 103 branches to U.S. Bancorp in the Chicago area, according to SNL.
Texas was second with deals that involved 49 branches because of Citigroup's sale of 41 branches in the Lone Star state to BB&T. This followed BB&T's December 2013 agreement to purchase another 22 of Citi's Texas branches.
Michigan and North Carolina were tied for third with deals that included 24 branches announced in 2014 to date.
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