Another New Bank- Really
 

While getting gas today in Pinellas Plaza I noticed that a new silt fence was installed on the lot to the east, which would be the corner lot. Person in the gas station said it was for yet another bank. Another bank! I was hoping for something more convenient like another place to eat, McDonald's or Wendy's, anyplace. Just saying my opinion.

OMG!! We are going to be the financial center of the villages. I am with you, anything but another bank!!!!

It's a well known fact that Villagers have pots and pots of money, and need many convenient banks to store it in.
Just ask anyone who lives in the surrounding communities.

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 .

By the way in most cases today banks do not own the buildings from which they operate .
They lease them . They find a developer who will build the branch bank or office building to their specifications and lease the building for 30 years . They usually build in a " lease buy-out option " for the 10th and 20th anniversaries in case the nature of the local market changes .
Reason being given the " commodity " nature of banking no finical institution today wants all of the brick and mortar capital tying up their balance sheets .
Today more and more banks are leasing everything of a capital nature including all office furniture , office equipment , phone systems and computers . If they could get away with it they would " lease " their employees .
Believe it or not there are many small to medium size companies today which do lease their employees . However the fiduciary , regulatory and legal construct of the banking business does not give rise to such an arrangement except for some technology divisions .

Maybe close, but I think Parr Dr,/466 is the winner!!

If it's my bank, I'll be happy to have a branch closer to my home! If it brings people to the area more often, then maybe the restaurants will follow.

A Bank on a corner lot?
They must already have a CVS, RiteAid, and Walgreens on the other corners.:1rotfl:

If there were no competition for the developers' bank--Citizens First--they'd get condemnation for that, too.

I regularly read the Quarterly Numbers which Citizens must submit to the regulators . It`s really a very well run institution . They maintain one of the strongest balance sheets I have ever seen . They have a ton of capital and a huge market share of the estimated available deposits from this community .
I do sometimes wonder why so many other banks would be willing to fight over the remaining share of deposits .
As far as consumer lending is concerned including mortgages only a small % of a banks consumer loans are generated / originated today from a branch banking system . Branches are all about deposit gathering .

A Wells Fargo is going in two buildings down from the Marathon gas station.

Meanwhile in the boardroom of a local bank............

Chairman of the Board: "How are things progressing with the new facility?"

Project Manager: "As planned, but folks on TOTV are criticizing our decision to build there"

Chairman: "Damn! Cancel the project. We must not distract those posters from their vital think tank responsibilities regarding tipping, dog poop, golf carts, and cyclists."

ok, I'm new.....what does OP stand for?

" Original Poster " IE the person who initiated the " Thread / Topic " .

:evil6:

Buffalo Jim, thanks for giving us the facts. It's interesting to learn how businesses work/make decisions.

Bare, you are supposed to be packing! Naughty Bare!!!:icon_wink:

:MOJE_whot::MOJE_whot:

Priceless!!!

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