BofA: Half of Deposits Come From ATMs

The Wall Street Journal reports:

A seven-month review by Bank of America Corp. of customer usage patterns shows less and less dependence on traditional outlets, the bank's head of consumer and small-business banking said Tuesday.

Customers are "using virtual channels more and more frequently," Liam McGee, president of the Bank of America unit, said in an interview Tuesday.

Here's more commercial real estate vacancies coming onto the market. Remember, Bank of America probably isn't the only bank exhibiting an increase in ATM deposits.