Simmons First National Not Alone In Bank Branch Assessment

by George Waldon  on Monday, Sep. 16, 2013 12:00 am  

Sprinkling in some de novo branches with acquisitions remains a part of BOZ’s recipe for profitable growth.

“Our philosophical response is this: We continue to appreciate that all customers, to some extent, still want physical, personal contact with their banker in the context of a traditional branch. But certainly the need for numerous branches is diminishing as more and more customers utilize mobile banking, the internet, alternate banking and other electronic vehicles.”

First Security’s Reynie Rutledge said electronic banking has changed the face of banking, but the brick and mortar branch still has its place in the order of things.

“I’m sure there are less people coming in, but there are still people coming in,” he said. “They don’t have to come in as often because of technology. It’s not the same as looking someone in the eye. If you don’t have branches, people won’t have a place to come to.”



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