First Bank opens a branch in Hamilton
December 29, 2011 by James
First Bank has recently announced that they will be opening a new full-service bank in Hamilton, New Jersey. This store will be the bank’s fourth branch.
The brand hopes to expand its business using organic growth plans. So far it has been fairly successful in attracting new deposits and increasing their assets. The CEO of the company is optimistic about the potential of the new branch. He has stated that the location is highly visible. Due to this it gives First Bank good coverage of Mercer County.
The bank believes that choosing lower cost locations will be beneficial to their customers. Buildings with low overheads mean that the business will save money on day to day expenses. This will result in lower fees and interest rates for customers.
The company wants to be successful in this area they will need to launch a marketing campaign. The trouble with the banking industry is that customers are very loyal to their current bank. In fact some people have been with their bank since childhood. This will make it very difficult to convince consumers to try a new brand.
In the past many banks have been successful by launching television, print and online campaigns. One of the more popular methods of advertising is using printing services to print out brochures. Banks then post these brochures to potential customers. This allows consumers to assess the services and products being offer to them from the comfort of their own home.