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re: Banks’ Retail Footprints Getting Smaller
Posted on 2/12/24 at 9:12 am to GeauxTigers123
Posted on 2/12/24 at 9:12 am to GeauxTigers123
quote:
I mean if you need to work on financing for some non primary residence investment it seems to be standard course.
This^^^
Depending on a person’s financial situation and/or the size and complexity of a project, meeting with a banker may be very helpful, if not necessary. Also, having been named executor in two different wills, any accounts the deceased had at larger institutions (where people are nothing more than numbers in a gigantic system), personally meeting with bankers made difficult situations a bit less stressful for me.
For the average person with “normal” everyday transactions, no, they probably don’t need to go into a brick & mortar location. But those who are engaged in more complex scenarios or businesses, or have to deal with estate matters (especially at a money center bank), having a face to face may make things smoother.
0
Posted on 2/12/24 at 2:22 pm to Sput
I work in a construction related business. Here in Alabama, the smaller "home town" regional type banks were building like crazy in the late 00's. we were doing banks all over the state in little crossroads in the middle of nowhere. Now, still building, especially locally. this area growing at a good clip. Meanwhile, Truist is closing branches.
Posted on 2/12/24 at 2:47 pm to Tarps99
If you are in a business that accepts cash having a retail branch nearby for deposits is pretty important. Most banks are consolidating in areas where they have multiple branches. I’d assume on that end of town those branches weren’t getting the traffic levels of the branches over near downtown.
I have noticed in TN the growing desirable suburbs we are getting new branches as banks are trying to move into new areas and at the same time banks with multiple branches close together seem to be consolidating.
I have noticed in TN the growing desirable suburbs we are getting new branches as banks are trying to move into new areas and at the same time banks with multiple branches close together seem to be consolidating.
Posted on 2/12/24 at 5:42 pm to Tarps99
There's still a lot of small businesses out there that need to make cash deposits on a daily basis. Businesses that are too small for armored truck service, but need access to a branch.
A lot of these businesses use local banks, so it makes sense that they need more branch capacity.
A lot of these businesses use local banks, so it makes sense that they need more branch capacity.
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