Bank Buildings

[Trophy Property]

What is the deal with so many banks opening small retail locations on prime corner lots. For years all hard corners used to be sold off to Gas Stations or marketed for those useages. I have noticed that the Valero's, Tiger Marts and big users have targeted the prime corners, but it seems now that banks are taking over pad sites and building way to many branches. I find this a little odd with the proliferation of online banking. I personally hit the ATM a few times a month and pay all my bills online. I hit my bank about 4 times a year. If anything I would think their presence is less needed. Obviously there is a competition thing going on, but I for will hit any ATM and pay the fees. I do not need my bank to have a branch on every 4th corner. Am I on crack. Does anyone else see this trend or have any incite. Thanks.

[TheNiche]

What is the deal with so many banks opening small retail locations on prime corner lots. For years all hard corners used to be sold off to Gas Stations or marketed for those useages. I have noticed that the Valero's, Tiger Marts and big users have targeted the prime corners, but it seems now that banks are taking over pad sites and building way to many branches. I find this a little odd with the proliferation of online banking. I personally hit the ATM a few times a month and pay all my bills online. I hit my bank about 4 times a year. If anything I would think their presence is less needed. Obviously there is a competition thing going on, but I for will hit any ATM and pay the fees. I do not need my bank to have a branch on every 4th corner. Am I on crack. Does anyone else see this trend or have any incite. Thanks.

I noticed this a few months back, too. You aren't on crack.

I think that the important thing as far as the banks are concerned is that they are perceived to be extremely convenient to people so that when folks shop for banking services, they ask the question "where's the closest and most convenient branch to me?" as opposed to "given that I don't really need the bricks-and-mortar, what's the best deal for online banking that's out there?". In essence, I hypothesize that the many branches are essentially bigass billboards.

[mrfootball]

Banking laws have been 'relaxed' over the last decade that have enabled certain players (BoA, Wachovia, WaMu, Wells Fargo, etc) to get more aggressive with the marketing of their slate of products/services. They mob you from the second you walk in the 'store'.

[Trophy Property]

Banking laws have been 'relaxed' over the last decade that have enabled certain players (BoA, Wachovia, WaMu, Wells Fargo, etc) to get more aggressive with the marketing of their slate of products/services. They mob you from the second you walk in the 'store'.

That is why I bank at a small bank (Sterling). I do not get all the bells and whistles, but I have been with them for 19 years and they realize that and treat me very well. The fact that I can call on a VP within the bank and get personalized service is awesome. The bank is 23 years old I believe and apparently My account is older than 99% of the employees that work at the bank (at least that is what I told).

When they start building corner locations I know the appocoplypse will be here.

[Bubba]

I agree fellas. It does seem we are being way over banked. I know of a shopping center in the Woodlands where HEB is the major tenant. Of course they have a Wells Fargo branch inside, but every pad space in front is occupied by a bank. There are five banks in a row, right next door to each other, not to mention the other bank branches across the street in other shopping centers.

Then there is Woodforest National Bank. They have an instore branch at the WalMart on 242 & I-45 and then just outside have a freestanding branch on 242. They also have one freestanding branch directly across the street from another freestanding branch on FM 1488 in Magnolia, with no plans to close the older one.

BTW, Woodforest has several 24 hour full service branch locations in selected WalMart stores and now Capital One is opening most of their Houston freestanding branches on Sunday too.

[jmancuso]

yep. first it was the gas stations, then it was the drug stores...now it's the banks doing their "arms" race. rather dumb becuase i'd rather get a tooth pulled than stand in a line at the bank. worse yet, drive out of my way to a stand-a-lone location as opposted to one in a shopping center or grocery store.

however, if they are going to build indvidual banks, wachovia has got the best looking designs so far.

[soifan]

I've noticed that too and it's driving me crazy! Why does EVERY corner have to be filled with banks and pharmacies -ugh?!! When they cut down all those wonderful trees at the corner of Clay and Barker Cypress to build another gas station, pharmacy, and a bank, I was ready to protest. I'm not even an environmentalist type (LOL), but enough is enough!

I don' t think I've been INSIDE a bank in 3 years. I also online bill pay and hit the ATM occassionally.

[Bubba]

I've noticed that too and it's driving me crazy! Why does EVERY corner have to be filled with banks and pharmacies -ugh?!! When they cut down all those wonderful trees at the corner of Clay and Barker Cypress to build another gas station, pharmacy, and a bank, I was ready to protest. I'm not even an environmentalist type (LOL), but enough is enough!

As someone who dislikes all the clear cutting too, I was very please when Woodforest built their branch on FM 2920 in Tomball. There was a huge tree there and they built the building around it, leaving it lots of growing room. Believe it or not, even WalMart in Tomball saved a couple of very large trees directly in front of their store. Probably helped by public input, but they did listen.

[editor]

My feelings on banks has changed drastically in the last few years.

I used to have Bank United in Houston, then they were bought by Washington Mutual. That was fine -- all I needed was a no-frills checking account.

But with WaMu's expansion fever they have really become a nuisance. In spite of their clever "banker" commercials, they have fees out the wazoo, and for things I've never seen at any other bank.

They tout the fact that you can take money out of a WaMu ATM at no charge. But they recently reprogrammed their ATMs so that the first thing they do is encourage you to check your balance before you withdrawl -- BAM! $1.50 balance-checking fee.

More importantly, WaMu managed to cancel my ATM card on me while I was travling in China, even though I called them the week before and told them to note it on my account just so that wouldn't happen. Then in the last three weeks they've managed to LOSE three deposits. Good thing I keep copies of EVERYTHING, or I'd be out $3,200.

At the same time I have this WaMu account, I also have a Citibank account. They don't have as many branches or ATMs in my area, but they NEVER screw up. They're a real old-fashioned PROFESSIONAL bank, and not trying to be the Target of the financial industry.

Bottom line: In banking these days, you get what you pay for.