Banks to People ratio
Here’s an article about how NJ has the highest ratio of bank branches to population. Seems to have a mixed reaction, as some residents think the competition helps provide cheaper services and more ATM locations, while others think the high rents these mega-companies can afford to pay may drive the mom-and-pop places out of business.
The number of new bank branches has grown at a rate four times the pace of the increase in North Jersey’s population, making the state one of the most competitive banking markets in the U.S., according to economic development experts. The branch-building boom has been good for consumers who benefit from greater convenience and increased competition, which pressures banks to reduce fees and raise deposit rates. But the fierce competition has made it more difficult for banks to increase earnings and that could result in more bank consolidation. Branch-building also has drawn fire from some merchants who say deep-pocketed banks have driven up retail rents.
Lo behold, we can credit notorious reader “Cracker” for sending this related article in. Thanks Crack-a!
Oh, and here’s a blast from the past, a “Motivational Poster” sent in by a reader last year: