
Ask HN: Tons of new banks in my city. Why? - rynop
I live in Rochester, MN which is population ~110k.<p>There are TONS of new construction physical banks being built in town.  A small town that is already saturated with existing bank storefronts.  Why is this?<p>They are from many different financial institutions, so its not like one institution is growing.<p>Aren&#x27;t most new banking clients going online? I can&#x27;t wrap my head around the business case that would exist for a new bank storefront when there are already ton&#x27;s of them in this small town.
======
jboles
It is a way for banks to directly invest their own money (rather than
depositors') in commercial real estate. Manhattan has something similar going
on - ridiculous number of bank branches.

