More than half of all the branches operated by the main banks in Northern Ireland have closed in the last decade.
It was confirmed on Monday that 15 Bank of Ireland outlets are to shut here.
And it means the total number of "big four" branches will be 114 - compared to 236 in 2010, based on an analysis of published figures and announced closures.
BoI will be operating just 13, down from 44 branches 10 years ago.
Over 100 branches will close across the island of Ireland, the company announced on Monday, with its chief executive blaming a "seismic shift" towards digital banking over the last year of the Covid-19 pandemic.
Politicians and business representatives have criticised the move, which will mean the closure of the last brick and mortar banking service in at least one town - Keady in Co Armagh.
"This is a grim day for business banking provision in Northern Ireland," said Roger Pollen, head of the Federation of Small Businesses Northern Ireland.
The company has confirmed 120 Northern Ireland employees will be affected, but it is hoped they can be redeployed within the company, chief executive of Bank of Ireland UK Ian McLaughlin said.
He added: "We need to adapt and we need to change. We still will have a branch in every county. Access to cash and access to banking services will still exist."
But analysis shows the steady decline of banks in our towns and villages.
Some 122 branches of the four main Northern Ireland banks - Ulster, Danske, AIB First Trust and BoI - have closed over the last decade.
Ulster had 90 branches 10 years ago and now has 44, Danske, still named Northern at the start of the decade, has dropped from 72 to 42, while AIB has shuttered half its outlets, from 30 to 15. The BoI closures, which will bring the number down from the current 28 to 13, will begin in June and continue to "the end of 2021", with more specific dates for branches released "in due course".
Mr Pollen, of the FSB, added: "This decision has been met with shock and disappointment from Bank of Ireland's small business customers.
"While we accept that banking practices are changing, the decision by Bank of Ireland to close more than half of its Northern Ireland branches effectively removes choice from large swathes of customers who wish to bank in a branch rather than online.
"The commitment to 'one branch per county' does little to provide reassurance of their long-term commitment to customers.
"While Bank of Ireland have cited the availability of services to be delivered in Post Offices, these very often lack the privacy and familiarity which a small business owner develops with their local bank branch and which they need to operate effectively."
Francesca McDonagh, chief executive of BoI, which reported a net loss of €742m (£642m) for 2020, said "the trend to digital banking has been evident, with customers using branches less and less".
"Covid-19 has accelerated this changing behaviour, and we've seen a seismic shift towards digital banking over the past 12 months," Ms McDonagh told the Irish Times, while also announcing the bank's UK headquarters will relocate from London to Belfast.
In a statement, the company added: "Digital banking is growing fast, while branch footfall is dropping sharply. We've now reached a tipping point between online and offline banking, and that's why we've announced changes to our branch network. However, our agreement with the Post Office means we continue to protect local access to physical banking for those who want it.
"We know news like this can cause concern for some customers. We're not making these changes immediately, giving us time to communicate fully with all our customers about every option available to them - online, in an alternative Bank of Ireland branch, or at a local post office."
SDLP economy spokesperson Sinead McLaughlin described the decision as "deeply concerning".
"Bank of Ireland's review of its operations in Northern Ireland has caused anxiety for staff and personal and business customers," she said. "I am deeply concerned at the implications of the decision to cut back its branch network which will have a devastating impact for staff, customers and also the high streets where these operate."
Retail NI chief executive Glyn Roberts added: "The closure of these 15 branches will have a negative impact on our local high streets with less footfall for nearby retailers when lockdown ends.
"I have also particular concerns of the impact on rural communities, with further reduced ATM provision and the ability to access cash.
"Our high streets face a huge task in recovering with so many businesses closing their doors which will lead to a growing problem of dereliction and shuttered shops."
The closure of branches by Bank of Ireland had been well signposted by the lender but is no less disappointing for employees and its personal and business customers — especially those who haven’t adapted to banking online.