Supermarket banking grows in Chicago

By Becky Yerak
Posted Feb. 16 at 9:26 a.m.

Chicagoans like doing their banking at the supermarket.

Nationally, the number of in-store bank branches and the deposits they hold are falling, but those numbers continue to edge up in Chicago, according to a newly released study by trade publication SNL Financial.

The total number of in-store branches for U.S. banks and thrifts has fallen 2.2 percent since June 30, 2009, to 6,051 as of Feb. 1. And in-store deposits for the industry were $71.5 billion at June 30, 2010, a 3.4 percent drop.

Nationally, Bank of America is among the players that have closed in-store branches and seen deposits in that channel shrink, SNL said. Those growing include PNC Bank.

In the Chicago area, however, in-store deposits are up 0.2 percent, to $3.16 billion, in the same time frame, and the number of branches is up 2.8 percent.

Chicago still has more in-store branches than any other market, with 333 compared with No. 2 Los Angeles’ 187, and ranks second behind Los Angeles in the amount of deposits at in-store facilities.

In-store leaders in Chicago are TCF, which is prevalent in Jewel Osco, and Chase, which does business in Dominick’s.

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One comment:

  1. perronimo Feb. 16 at 1:31 pm

    That’s were they send bankers of to retire.