Here’s a toilet-side look at the new Regions Bank that’s going up at Fountain View and San Felipe in place of the Dino’s Texaco gas station torn down there in September. It’s a replacement of sorts for the bank’s shuttered branch inside 5005 Woodway, a lowrise office tower about a mile and a half away, near Sage Rd. It’s also one of 14 new branches the bank announced plans to open earlier this year, at which time it had 29 existing locations in the Houston area.
The new building hasn’t yet gotten off the ground, though excavators are busy prowling the half-acre site across from the Tanglewood H-E-B. The bank’s 20-year lease (with 4 consecutive 5-year renewal options) officially begins next March.
- Regions Bank appoints Houston market leader, plans several new branches [HBJ]
- Previously on Swamplot: Daily Demolition Report: Last Chance Texaco
Photos: Swamplox inbox
San Felipe at Fountain View
They really need to now demolish that worthless Exxon on the NW corner of that intersection so we can finally get our god-given right to have a bank at each corner of that intersection.
So we will have gone from three gas stations to three bank branches on this corner, what a disappointment. I’m hopeful interesting restaurant concepts will move into the recently vacated Harvest and Pronto spots nearby.
Still don’t understand the need for so many brick-and-mortar bank buildings in this online age. Is walk-in business really that brisk? There must be an obscure regulation or tax loophole behind this.
Gisgo: My four ideas for why brick-and-mortar banks are still around:
(1) A lot of businesses need to deposit cash. That’s not something easily done online.
(2) It’s partially a real-estate play.
(3) Increased visibility/marketing.
(4) There are still a lot of old folks with money who like brick-and-mortar banks.
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Pretty much. The industry is de-emphasizing physical branches, but you’ll always need some for those reasons.
Anyone heard of safety deposit boxes?