US citizens above the age of 55 control about 66% of the savings in this country . It`s been that way for many decades . Banks invest in branch locations based on very intricate analysis . I know because at one time I made such decisions for a very large bank .
Apparently the Developer has made the land available to whichever business is willing and able to justify the investment and operating expenses .
Branch banning offices exist primarily for the purpose of gathering deposits . The majority of the costs of the building , equipment and ongoing operating expenses are imputed to calculate the true " fully loaded " costs of the deposits generated . if the deposits could be generated at a lower cost in the wholesale markets there would be far fewer branch banks .
In order to find as many age 55+ consumers in a more traditional market a bank would have to build a branch network in a metro area of about 500,000 in population . Since in most markets the 55+ Market Segment would comprise about 20% of a Metro population .
Thus given the concentration of age 55+ households our community looks like a deep fishing hole for branch banking .
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