Fifth Third Bank on Monday said it will close or sell about 100 of its 1,300 branches to cut costs and better serve customers who are doing more banking on their computers and phones.

The bank isn't yet disclosing whether any branches in Greater Cleveland or Ohio may be affected, said spokesman Larry Magnesen.

The Cincinnati-based bank also didn't discuss what will happen with employees whose jobs are eliminated.

Fifth Third has about 60 branches in Greater Cleveland and 17 in the Akron area.

It is the seventh-largest bank operating in Greater Cleveland, with about $3.7 billion in deposits, or about 7 percent.

"It's no secret that branch usage across the industry has been declining 4 to 5 percent a year since 1995," banking analyst Terry McEvoy of Stephens Inc. in Maine said in a research bulletin today.

McEvoy added that it's estimated that 85 percent of all banking transactions nationwide today are done outside of branches.

Mobile deposits, for example, have gone up 75 percent in the last 15 months at Fifth Third, Magnesen said. Mobile deposits today account for 14 percent of the bank's deposits. The technology allows customers to take photos of checks with their smart phones and deposit them directly, without going into a branch. Fifth Third used to charge for mobile deposits; now it's free.

Deposits at ATMs have also increased. Looking at the impact of those two options, consumer deposits handled by tellers in branches has dropped from 74 percent to 64 percent in the last 15 months.

Most big regional banks have announced major branch consolidation plans in recent years. This is the first for Fifth Third.

Other banks, such as KeyCorp, have been closing branches more gradually the last few years.

Shedding branches will save Fifth Third an estimated $60 million per year starting next year.

Fifth Third's profits last year dropped by 19 percent, to $1.8 billion.