Bank of America chief executive Kenneth Lewis told investors last week he is planning to shrink the company's 6,100-branch network by about 10%, a pullback from the two-decade expansion that took the bank from coast to coast.

Lewis discussed the plans during a meeting Thursday in the bank's hometown of Charlotte, NC according to people familiar with the conversation. Liam McGee, president of Bank of America's consumer and small-business bank, also said branch closures are in the works but added it would be premature to specify how many locations could be closed.

Wall Street Journal