Putting the Cart Before the Horse:  A Case Study On Branching

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Putting the Cart Before the Horse: A Case Study on Branching

Often community banks seem to take a backwards approach to branching. First, they see a property available for sale or rent or they are approached by a real estate broker or an insider with a property that would be great for a branch. Then they start to look at the market to see if it would indeed support a branch in that location. That seems like putting the cart before the horse. 

Especially today, there is no “one size fits all” plan that will serve every bank or credit union. Every institution is unique and unlike prior years, there are even greater uncertainties that financial institutions face as they navigate the pandemic with priorities rightfully shifted towards stabilizing and supporting their customers

But when it does come time to relocate, consolidate, or expand your footprint and choose the right branch location, the best approach is to analyze your current market and identify communities or neighborhoods that would support a new branch and enhance your existing branch network to best serve those that depend on your services

 

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