The are numerous small neighborhood bank branches popping up. What’s the rationale for so many? What needs do they fill?
thomas h. brouster, chairman & ceo, reliance bank
Reliance Bank takes pride in being a locally owned and managed community bank, and that’s the reason we continue to open branches within the St. Louis metropolitan area. While we continue to expand locally, we realize that with the current technology of online and mobile banking, the number of customers who walk into a branch has decreased.
Reliance Bank has been a trendsetter when it comes to partnering with retailers and other tenants to leverage building space. There is just no need for large bank lobbies anymore. For example, we are leasing out building space to the United States Postal Service at our Manchester Road location and to Edward Jones in Wildwood. We are located inside Tim Hortons Café & Bake Shop in O’Fallon, Illinois, and are about to open our 23rd location in Rock Hill, where we are leasing half of our space to the St. Louis Frozen Custard Factory. There are three business objectives here—put unneeded space to use, increase foot traffic by partnering with other businesses, and gain leasing revenue.
Despite the decrease in lobby space, our branches continue to be full-service locations. All locations still have traditional bankers to interact with customers, and all branches have an ATM. Some of our branches have video teller machines with extended hours, and some have technology bars. This brings me to our most important objective of all—to give customers options and let them choose how they want to bank!
mike bender, ceo, midwest regional bank
We began doing business in 1894 as a community bank, focusing on the people and businesses in the area near our offices, reinvesting dollars in the community, and creating jobs. As such, it’s critical to be present and available to our customers. While some banks have scaled back on brick and mortar buildings, we are taking a different approach. Now, more than ever, people want personal service and a handshake. We are committed to providing that kind of service.
Our retail branches also house our local commercial and SBA lenders, which allows our employees to live and work in the areas we serve. This gives us a greater understanding of the unique needs and opportunities in each community and gives us the edge in local decision making. As a company, we believe it’s our responsibility—and honor—to give back to these communities. We encourage and support our employees’ involvement in local organizations and charities. Our ‘We Care about Kids’ program has donated more than $250,000 to area schools near our branches. These opportunities are created by being physically present and engaging with our customers on a personal level.
We are based in Jefferson County, with branches in Festus and Arnold. Our expansion has extended into St. Louis County with the opening of our Kirkwood branch last November. We will continue this growth with our Chesterfield banking center in June, Sunset Hills this November, and two future sites we’re considering for 2018.
