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The Banking Industry in the Triad


cityboi

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here is the current LSB headquarters in downtown Lexington

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This is FNB headquarters in Greensboro. cant see much but it looks like a pretty large building. It look like its currently a 4-story building. Combining the offices of both banks in a downtown Greensboro location could easily make a 10-story building.

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Lowe said there is no overlap with the two banks' branches, so the new bank will likely make only minimal changes to staffing and branches. Ridgill said the bank plans to keep operation centers in Davidson and Rockingham counties:

http://www.news-record.com/apps/pbcs.dll/a...EC0101/70227007

congrats G-boro! doesnt sound like a new downtrown skyscraper but at least another HQ to add to the list. thats 2 in a month? not bad.

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Lowe said there is no overlap with the two banks' branches, so the new bank will likely make only minimal changes to staffing and branches. Ridgill said the bank plans to keep operation centers in Davidson and Rockingham counties:

http://www.news-record.com/apps/pbcs.dll/a...EC0101/70227007

congrats G-boro! doesnt sound like a new downtrown skyscraper but at least another HQ to add to the list. thats 2 in a month? not bad.

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here is an article in todays paper. The article states that the last time Greensboro had a sizable bank headquarters was back in 1983. the bank leaders say they will focus on aquisitions. I think in about 2 or 3 aquisitions, the bank may become a real power player in the southeast. Greensboro seems to be getting what it has longed for for many years.

"The presence of a bank that size could create other jobs in the financial services industry."

That means more needs for office space

"That's a big deal for Greensboro," said Tony Plath, a banking professor at UNC-Charlotte. "It makes you a destination for other financial services providers."

"Eventually, observers say, the new bank will likely be in the buying mood.

"They are not out to sell the bank," Plath said. "They want to acquire other banks .... This brings a new level of competition to the Greensboro market."

I think this new bank may firmly stay rooted in Greensboro. All the other big banks have a huge presence in the LSB and FNB's markets and it wouldnt financially make sense to sell. One bank that does concern me however is Memphis based First Horizon. I do know the bank wants to really enter the NC market. I think if the new bank strongly focus on aquisitions and continues being a strong bank, that may not be a problem

http://www.news-record.com/apps/pbcs.dll/a...EC0101/70227034

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here is an article in todays paper. The article states that the last time Greensboro had a sizable bank headquarters was back in 1983. the bank leaders say they will focus on aquisitions. I think in about 2 or 3 aquisitions, the bank may become a real power player in the southeast. Greensboro seems to be getting what it has longed for for many years.

"The presence of a bank that size could create other jobs in the financial services industry."

That means more needs for office space

"That's a big deal for Greensboro," said Tony Plath, a banking professor at UNC-Charlotte. "It makes you a destination for other financial services providers."

"Eventually, observers say, the new bank will likely be in the buying mood.

"They are not out to sell the bank," Plath said. "They want to acquire other banks .... This brings a new level of competition to the Greensboro market."

I think this new bank may firmly stay rooted in Greensboro. All the other big banks have a huge presence in the LSB and FNB's markets and it wouldnt financially make sense to sell. One bank that does concern me however is Memphis based First Horizon. I do know the bank wants to really enter the NC market. I think if the new bank strongly focus on aquisitions and continues being a strong bank, that may not be a problem

http://www.news-record.com/apps/pbcs.dll/a...EC0101/70227034

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The realization of this merger is significant on paper only. In the short term, I'd say 1-5 years, another larger bank, say BB&T, Wachovia, et al will just acquire the bank's assets through a merger/acquisition. Happens all the time-- Welcome to the 21st Century. No need to announce "expansion" plans. This is just the 1st step in a plan to incease shareholder value among the 2 bank's Board members. Mark my words.
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I was reading the editorials today in the Greensboro News & Record, and the news editors suggested while it may be premature, the new bank should consider moving downtown once it settles good in Greensboro and prosper a little bit. If they move downtown, they will construct an office tower, I have no doubt about that. The current FNB headquarters is huge as it is. Its a 4 story building but its spread out. They will have to go highrise on a downtown site.

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one of the companies are moving from the airport area to downtown. The trend of downtown office moving to the suburbs seems to be reversing. Thats a good thing because downtown needs to be THE central commercial hub for Greensbsoro. And you are right....momentum is key. certainly news like this makes it feasible for more downtown office developments.

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one of the companies are moving from the airport area to downtown. The trend of downtown office moving to the suburbs seems to be reversing. Thats a good thing because downtown needs to be THE central commercial hub for Greensbsoro. And you are right....momentum is key. certainly news like this makes it feasible for more downtown office developments.
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Let's get some facts straight first. I live in Greensboro and I would like nothing more to see more office development downtown. However the office vacancy rate did not drop because of more employment downtown, it dropped because of older commercial buildings such as Wachovia building being turned into residential. There is no trend reversing. Most large employers are looking at the Triad as one big conglomerate and thus locating their offices near the airport and highway 68 corridor. This latest announcement is for less than 50 jobs and is only filling some long vacant space in the Suntrust building.

Take downtown for what it is, a submarket within the city that will mainly consist of bars and resturants, and the occasional off the wall retail. It works well as an entertainment hub for the city of Greensboro, but it will never be the center for retail and commercial activity. Those days are long gone.

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i think its a case of over-hyping. more workers moving downtown, is excellent news...no doubt. just be more careful with your words. saying DT Greensboro has a healtheir office market and more growth than DT Winston can be seen as semi-delusional.

and unless those people in the article know more than we do pertaining to DT Greensboro's office market, theyre getting a little too excited about these 50 jobs.

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i think its a case of over-hyping. more workers moving downtown, is excellent news...no doubt. just be more careful with your words. saying DT Greensboro has a healtheir office market and more growth than DT Winston can be seen as semi-delusional.

and unless those people in the article know more than we do pertaining to DT Greensboro's office market, theyre getting a little too excited about these 50 jobs.

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Cityboi, it's like this. Let's just say downtown Winston has 10,000,000 SF of office space while downtown Greensboro has 8,000,000 SF. If W-S is at 18% vacancy at 8,200,000 SF and GSO is at 10% at 7,200,000 SF this means that while Winston's vacancy rate is higher, but it has more spaced leased.

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Cityboi, it's like this. Let's just say downtown Winston has 10,000,000 SF of office space while downtown Greensboro has 8,000,000 SF. If W-S is at 18% vacancy at 8,200,000 SF and GSO is at 10% at 7,200,000 SF this means that while Winston's vacancy rate is higher, it has more spaced leased.
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or course it has more space leased . I know that. I was refering to the rate of growth. But I would like a list off all the companies, (excluding PTRP labs) than have move to downtown winston in the past 5 years if anyone can provide a list.
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same with Greensboro. The news doesnt report every company or business that moves to downtown Greensboro and not all that office space was converted to residential as was suggested. I can only think of one big building, and a few smaller buildings but there were alot of vacancies in the other office towers and the floors in those building are finally filling up. The Jefferson Standard building is a good example.

The reasoning was becasue I wanted to see how many non research jobs were moving to downtown.

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Trust me folks, I have lived in downtown Greensboro for over 3 years now and I have only seen a small percentage of growth, and thats mostly residential. A lot of the small, off the wall retail, that has opened has come and gone. Greensboro is maintaining, but there is not very much growth compared to downtown Winston. I wish I could honestly say that downtown Greensboro is booming with new economic activity, but other than Center Pointe, there is not much happening unless you talking about a Friday or Saturday night on Elm Street.
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also where have you been? there are a number of proposal for southside which include a major 270-unit apartment complex with cardo center, business center and cyber cafe, another commercial building is being proposed for Southside at the corner of King and Gorrell Street, more townhomes are in the works and a condo building is being proposed for Southside.
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