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re: Capital One Buying Discover
Posted on 2/20/24 at 3:53 pm to LSUFanHouston
Posted on 2/20/24 at 3:53 pm to LSUFanHouston
I heard a rumor a few years ago from someone that Capital One was looking to eventually exit the retail banking sector and return to focusing on credit cards. This person was at a competing bank so I took it with a grain of salt, but the announcement of this deal makes me wonder if that's what's starting to happen. I know they've been closing branches in Baton Rouge and consolidating some of their local admin staff the past couple years. I imagine some of that is attributable to increasingly more digital banking although it seems like Chase has been building new branches at the same time.
2
Posted on 2/20/24 at 4:09 pm to Brummy
quote:
I imagine some of that is attributable to increasingly more digital banking although it seems like Chase has been building new branches at the same time.
Cap One has been moving away from traditional branches for a while.
They are the largest bank by deposits in the NOLA area.
If they sell off their retail banking it could be to a company not currently in the area
Posted on 2/25/24 at 10:02 am to Brummy
quote:
Chase has been building new branches at the same time.
Chase has been closing branches too.
In Terrebonne Parish back in the days of Priemer Bank, they hand many more locations. They built or their predecessor Terrebonne Bank and Trust built Houma’s only 7 floor commercial office building. (Now it is owned by the Parish Government) They even had locations as far south as Chauvin.
Now, there are 2 branches in Terrebonne Parish, after closing the one by the mall. It could be 3 if you count the Branch that is in “Thibodaux” but still within the parish line of Terrebonne by Walmart and Percy Brown Road.
Now Chase has been expanding their city and state reach. They have been expanding into states where they did not have branches. When I was in Vegas, I realized that there were no Capital Ones there but there were a few Chase branches which I did use to get some cash instead of paying 10 dollars per ATM transaction at a Casino.
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