Tuesday, November 3, 2015

Big Bank Bound For Busy Cobb County Corner

PNC Bank to open new branch.

Pittsburgh, Pennsylvania-based PNC Bank is planning to build a new branch at the corner of Johnson Ferry and Roswell Roads in East Cobb.  The new branch will be built in place of the recently demolished EXXON gas station, convenience store, cleaners, emissions facility and Robeks juice shop.

With all existing structures now demolished as well as the underground gas tanks having been removed, I'd expect that construction could begin before the end of the year. If that timeline holds true, I'd expect the bank to open in late spring. 
  
PNC is currently without a full service branch in the immediate area despite having an existing location on Lower Roswell Road, just down from Johnson Ferry Road, and across from Parkaire Landing Shopping Center.  The freestanding branch was built as a Flagstar Bank, but converted after the 2013 buyout.  The new branch is about two miles from the current branch.  A bank spokesperson indicated that both locations will remain open.  

The new branch will serve a different portion of the community and will provide superior visibility and advertising for the bank.  

PNC recently opened a new location in Buckhead on Peachtree Road.  The Buckhead branch, at Peachtree Road and Mathieson Drive, replaced a popular freestanding Wendy's.

Both PNC and Chicago-based Chase Bank have been opening new branches all over town as they fight for market share with more entrenched banks like SunTrust and Wells Fargo. Wells Fargo got its sizeable Atlanta area market share via its 2008 acquisition of Wachovia.   PNC purchased the Atlanta operations of Michigan-based Flagstar Bank and all of Raleigh-based RBC Bank USA in 2012.  The two acquisitions allowed the Pittsburgh bank to go from zero representation in Atlanta to what some say is now the 7th largest-bank in metro Atlanta, ranked by deposits.  

Chase Bank previously opened a new branch  in East Cobb in place of a one-time Donatos Pizza.  The Donatos had later become a Mama Fu's Asian House and later a Flying Biscuit Cafe.  Chase also replaced a gas station on Roswell Road in Sandy Springs as well as a Pizza Hut in Buckhead.  

Is it just a matter of time before another bank buyout leaves Atlanta littered with empty bank branches?  For that matter, who visits an actual bank branch anymore?  With whom do you bank?  Why?  

Please share your thoughts below  

11 comments:

Anonymous said...

I have to go to a bank to cash the reimbursement check from the insurance company for dental visits. Or on a rare occasion someone gives me a check. Going to Suntrust can be a hassle.

Anonymous said...

I was hoping for something other than a bank for that corner. The last thing East Cobb needs is another bank!

Anonymous said...

I go to the Wells branch on Johnson Ferry to buy Euros

Anonymous said...

2 miles isn't too close in the banking world. Heck there are 2 full service Wells Fargo branches on Mt Vernon Rd in Dunwoody in the same block (1630 and 1660 Mt Vernon Rd) with only a PNC branch in between them.

Anonymous said...

Dang!! No more Banks and/or retirement homes in East Cobb PLEASE! We need more shopping and restaurants.

Anonymous said...

Interesting they did not knock it down to build more townhome communities. Very new townhome communities popping up everywhere. It would be interesting Eli if you did a little right up on townhome communities and what they were formerly.

Stacy said...

I can't figure out who actually goes to all the new bank branches. You can do literally everything online or by phone. The one time I was in a bank a year ago, every customer was over 50. I just don't see how physical bank branches have a role in today's world.

Anonymous said...

Wow...another brick and mortar bank. Who even goes to an actual bank nowadays? I haven't been in a bank in well over a year and I think that was just to get bundles of dollar bills for stocking stuffers.

jeff a. taylor said...

Hate to break it to my Anons - Senior townhomes are planned for that dense bunch of kudzu on the corner of Johnson Ferry and Bishop Lake Dr, right across from the Methodist church. Zoning change notices are now up. Horrible idea, but Cobb will never turn down tax revenue.

Anonymous said...

It makes perfect sense....they need to build more senior housing so that there are more people nearby that still use brick and mortar banks!

Unknown said...

Chefs where are you? East Cobb is one of the most untapped markets in the Atlanta area. We need more upscale restaurants and a great bakery that has a selection out on the floor... Like Alpine Trattoria. What are ya'll waiting for?