DFW seeing banks optimize locations and open new branches in growing commercial and residential areas
Banks continue to optimize their branch locations across the US to meet their customer’s rapidly evolving needs.
May 08, 2019
- Banks continue to optimize their branch locations across the US to meet their customer’s rapidly evolving needs.
- DFW saw a net reduction of 153 branches, between 2010 and 2018, or about 8.4 percent. This compares with a net decline of almost 11 percent for banks nationally.
- While net branch counts are a good measure of industry activity, it misses bank openings that are occurring as banks re-work their footprints to remove redundant locations and create better operating efficiencies.
- Despite DFW’s reduced net branch count, 79 new branches opened since 2016. This reflects an increase of 4.6 percent. This pace is fully twice that of the overall US, which saw 1,980 openings, or a 2.2 percent increase.
- As indicated in the map, new branches (red) are being opened in the dominant business centers like the CBD and Uptown, as well as the Lower Tollway, Legacy, and central Fort Worth.
- In addition, banks are following new roof tops along our growth corridors. Frisco, Prosper, Allen, and McKinney all stand out as top choices to drive deposit growth and bank market share.
- While DFW saw 133 closures since 2016, these have been in scattered locations, mostly in lower growth areas.
Source: FDIC; JLL Research