Monday, March 18, 2013

Chase Bank in the Hunt for Buckhead Market Share

Chicago-based Chase Bank will soon open what will be its fourth Buckhead area branch.

In north Buckhead, their branch will open in place of State Bank, which closed this past November.  State Bank took over the branch from the failed First Security National Bank in 2010.   The branch is quite large and occupies an attractive and highly visible outparcel of the Publix-anchored Chastain Square shopping center.

Chase Bank inherited a WaMu branch in the "Disco" Kroger shopping center not far away in their 2008 acquisition of the failed bank.  Since then Chase has added an additional location at The Peach shopping center in a portion of the former Linens n' Things on Peachtree, and has another in the works on Piedmont Road on the site of a former Pizza Hut.

Additionally, sources say that talks have resumed for their would-be branch on Peachtree Road in Brookhaven on the site of the former Hastings.

Chase has been aggressively adding locations all over metro Atlanta including new freestanding branches in Roswell, Alpharetta, Decatur, East Cobb, and Marietta, among others, in an effort to grow their market share.

Last week, I broke news that Chase is also underway with a new location at Toco Hill on North Druid Hills Road.  Chase joins a host of other nearby banks and its upcoming opening was anything but welcomed by readers who left comments saying they'd hoped for something better than ANOTHER bank.

According to the recently released 2013 Buckhead Guidebook, Buckhead has 50 banks representing 21 different firms, six of which are headquartered in Buckhead.  While late to the the game, Chase is clearly trying to get a bigger share of Atlanta, and Buckhead specifically. 

**Chase, historically a firm associated with New York, moved their banking headquarters to Chicago following their 2004 acquisition of Chicago-based Bank One Corporation.

I've banked with the smaller banks (Tucker Federal anyone?) and the larger banks SunTrust, WaMu, etc. and currently find myself plenty satisfied with Fidelity Bank.

Where do you bank? What would it take for you to flip your funds to a new bank?  Are there just too many banks in Buckhead?


Anonymous said...

I quit ALL banks a few years ago. I have been using Delta Community Credit Union. I will never use a bank again.

TheJohnP said...

With Anon. Made the switch to DCCU after years of getting screwed by Bank of America. Haven't been happier with the decision. Credit Unions are the way to go and glad to see Delta Community is also growing their presence in town.

Jimi said...

In my point of view s decrease in the home loan business is not causing Wells to give up either.

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