Add Webster Monetary in Waterbury, Conn., to the rising record of U.S. banks shuttering branches.

On Friday, the $32 billion-asset dad or mum firm of Webster Financial institution disclosed in a regulatory submitting that it’s going to shut 27 branches in Connecticut, Massachusetts and Rhode Island by mid-2021, a transfer that can depart it with 129 branches in these three states and New York. The shutdowns are anticipated to price about $19 million, most of which can be acknowledged this quarter.

The transfer ought to save Webster about $15 million a 12 months, beginning within the third quarter of 2021, the corporate mentioned.

Pressed by rising bills and prospects’ rising desire for digital banking — which has accelerated through the coronavirus pandemic — a number of banks are taking related actions. This week alone, Berkshire Hills Bancorp in Boston introduced plans to cut the size of its branch network by about 20% whereas First Mid Bancshares in Mattoon, Ailing., mentioned it might close 10 of its 63 branches.

Bigger banks are trimming, too. PNC Monetary Providers Group in Pittsburgh expects to shut 280 branches by the top of subsequent 12 months, U.S. Bancorp in Minneapolis mentioned it can shutter about 400 places of work by early 2021 and KeyCorp in Cleveland mentioned it can transfer up its plans to shut branches.

There have been 84,775 energetic financial institution branches within the U.S. as of Oct. 31, based mostly on knowledge compiled by S&P World Market Intelligence.

Webster’s department shutdowns are a part of a companywide cost-cutting plan. Financial institution executives in October mentioned they wanted to reduce operating expenses by 8% to 10% by the top of subsequent 12 months.

Webster began a income and expense evaluate in January, however the effort sped up through the pandemic, John Ciulla, the corporate’s chairman, president and CEO, mentioned when asserting the cost-cutting aim.

The corporate didn’t present a breakdown of department closings by state.