Supermarket Branch Generates Loans

ABA Banking Journal, September 1992 | Go to article overview

Supermarket Branch Generates Loans


Some bank branches located in supermarkets have done a good job in gathering deposits, but not such a good job in producing loans. But since it opened a supermarket branch earlier this year, $82 million-asset First National Bank, Oblong, Ill., has found loans forthcoming.

In its first few months, the supermarket branch gathered $1.1 million in deposits and made $850,000 worth of consumer loans--a loan-to-deposit ratio of about 80%. "We set out from the beginning with the idea that this branch was going to sell loans," says President Wilfred J. Cross.

Two employees at the supermarket branch, situated in Robinson, Ill., nine miles from Oblong, have been designated to sell loans, and one of them is always there during store hours--10:00 a.m. to 7:00 p.m. Monday through Friday and 10:00 a.m. to 6:00 p.m. on Saturday. One of the loan officers had worked at a nearby Sears store for about 15 years, so he knew a lot of people in town. The officers work the aisles, introducing themselves and the bank to customers.

The in-store branch has as computer and laser printer on the premises that are connected on-line to the main office. …

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