Physical Bank Branches Are Still Necessary in Tampa Bay as Banking Evolves

Chief Deposit Officer Jessica Kendall Hornof and other Tampa Bay bank officers address the ongoing need to have physical branches on the Gulf Coast of Florida in a recent Tampa Bay Business Journal article.

Per the article, the Economist Intelligence Unit (EIU) reported that the majority of bankers believed that branch-based banking would cease within five years. But, the popular opinion by Tampa Bay bank executives, along with the growth of branch offices in the area, is that brick-and-mortar offices are a necessity in our popular market.

Having offices throughout Tampa Bay, along with our newest St. Petersburg location, has given First Citrus Bank the opportunity to interact with clients in person, build trust, and provide individualized financial support. Plus, Tampa Bay has seen an influx in population growth, as people move from other states to Florida. A local Tampa bank is best suited to open a new personal or business account.

Moreover, Jessica Kendall Hornof​, EVP and chief deposit officer for First Citrus Bank, states that as many as 80% of consumers prefer to speak to a banker in person for complex banking issues. With that in mind, location proximity is important when selecting a bank.

To read the complete article with quotes from our Tampa Bay community bank and other local banks, click: The end of branch banking? Tampa Bay bankers aren’t so sure

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