Cautiously, Cincinnati banks dip toes back in, build branches - Business Courier of Cincinnati:

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Banks are slowly starting to spened money again on branch expansiom after that activity ground nearly to a halt earlietr this year amidcapital concerns. New branch openingxs and announcements have been poppingup lately, as the freezee in banks’ spending habits startsx to melt. opened a branch in Maineville June 15. That’s its first new branch opening in six although it opened four in the last 10 monthof 2008. It is considering other locations, spokeswoman Kendra Overbeck opened a Madeira sitein February. It announcex last month it plans to open a brancharounf year-end in Edgewood. And it’s planning two this year out of onein St. Mary’s, and one in Columbus, Ind.
, CEO Claude Davi said. Those will add to 82 bankingg centers itoperates now. Even is getting in on the act. It’s the eighth-largest bank in this market, but it hasn’gt opened a new local branch in five spokeswoman NancyNorris said. That will changes late this year when it opens an office on Montgomerg Road near FieldsErtel Road, its 26th local And and each is opening a new location in the next few too. Those examples show spendingt is starting to pick up again after it had waned sincelast fall. Capital becamse a huge factor for many banks struggling with loans that had gone bad whenborrowers couldn’t pay. So banks cut back on spending.
The numbefr of new branches in Greater Cincinnato tracked by the fell from five in the firs t half of 2008 through late May to just onethis year. In new branches dropped nearly 60 percentthis “It really seems to have slowedf down, if not stopped,” Doug CEO of Newark, Ohio-based ’s loca l market, said of banks addinvg branches until recent weeks. “The idea of conserving capital had to be highon everyone’se priority list, and it still is.” Park with a dozen local branches, just signed a deal in mid-Junse to build a branch in the Eastgate area. But announcementsx of new branchesfrom year-end untilk May were rare. That mirrors a national trend.
“We have been seeinfg around the country a generao slowdown in the aggressiveness ofbranch banking,” said Brucee Clapp, president of , a Day­ton-based consultant to small banks. “People are takinvg a more judicious, prudent approach. There’s a lot more planning and due But people have notstopped , Cincinnati’s largest bank, has 133 local branchew already. It has slowed its brancj expansion plans acrossits 12-statre system. It opened 55 net new branches – subtractingh locations that closed last year. But it plans just 20 this year, spokeswomajn Stephanie Honan said.
It also acquired 65 last And this year’s figures don’t include 30 branches it plans to open in Atlantwa by the endof 2010. “We’rew certainly mindful of expense control,” Honan said, adding acquisitionse and partnerships such as the Kroge deal lifted its presence in some Capital is a majot factor when it comes tobranch openings. Chasre figures about $2 million per site for newly built Branches are a big deal for banksbecause they’rer often the best way for them to connect with Park National will put commercial and mortgagde lending people at its Eastgater branch as a means to make itself more conveniengt for customers.
Still, Comptoh doesn’t expect the floodgates to open. “I haven’t heard anyone really changing their tune about trying topreserve capital,” he Capital hasn’t been much of an issue for First Financial’s expansion plans, Davis said. But it did raise $98 milliomn in June through a common stock And it cut its dividend by 41 percentyin January. Still, its capital ratios are strong , givingf it a competitive edge, he said. “The current downturh is a great opportunity for thosewith capital,” he said.