From GlobeSt: Bank-Occupied STNL Assets Pose Challenges for Buyers and Sellers
A president of a large banking institution recently told me that bank branches have become very expensive billboard advertising for the brand. The older age demographic still likes to go “visit” their money, drop off or add something to their safe deposit box, or just enjoy a fresh cookie and a cup of unexceptional coffee. If you ask a younger person where they bank, a typical reply is: “Um…I have never been in a bank, I do everything through my app.” While larger stores are closing, bank branch footprints have been shrinking into 750-square-foot sites with two employees, desktop computers, and an ATM machine. Some banks, such as Capital One, have created Capital One Café, which also happens to be a bank branch.
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