Jump to content

Next Bank Tower Downtown

RALNATIVE

By RALNATIVE
in The NC Triangle

Recommended Posts

RALNATIVE Burg

RALNATIVE

Posted
Posted

We started this discussion in another thread, but I thought it a good idea to create a thread for this topic. It's an interesting subject.

With Raleigh banks poised for significant growth over the next couple of decades, which capital city bank do you think will be the next to build a tower downtown...First Citizens, Capital Bank, or North State Bank?

Link to comment
Share on other sites

  • Replies 30
  • Created
  • Last Reply
Gard Burg

Gard

Posted
Posted

I believe that First Citizens will be the first to built a large tower. The other two have been expanding some, but at this point in time, they are both still VERY small in terms of branches and capital. Neither one of them have any reach outside of NC, or even in Charlotte at this time. First Citizens, on the other hand, just expanded its presence in CA with the purchase of a 12 branch bank that failed and most recently purchased an 18 branch bank in WA state that failed as well. Business Analysts at UNC believe that this is likely only the start for the bank in failed bank shopping. Maybe First Citizens will become the next BB&T :shades: .

Link to comment
Share on other sites
DPK Hamlet

DPK

Posted
Posted

I'm going to go with First Citizens as well. They are growing the most out of any other local bank here I feel and have been around for a long time (1898). Just quickly eyeing their latest financial report, they have about $17 billion in assets and average about $1 billion in growth per year. That's pretty decent.

http://www.ffiec.gov/nicpubweb/nicweb/Inst...DT_END=99991231

Link to comment
Share on other sites
Jones_ City

Jones_

Posted
Posted

First Citizens just renovated their downtown branch and have fairly well anointed the North Hills campus as their head quarters. While I agree their capital situation and growth strategy screams leader in this discussion, I think Capital Banks posture towards downtown gives them the lead in my book, although the horizon for a tower downtown is much further for them. Purchase of 333 Corporate Plaza was just a few years ago, but I could see them going taller at a spot such as on Salisbury Street behind the Sheraton in 15-20 years.

Link to comment
Share on other sites
ChiefJoJo Town

ChiefJoJo

Posted
Posted

I think it may be a while for a bank tower downtown, or any tower for that matter. Don't forget that Charter and Edison are already approved and total something like 800k sf of office space. Throw in the approved L-Bldg, and you have about 900k sf in the pipeline, but not built. A total guess, but that might take 6 years to absorb that space, assuming a return to positive economic growth immediately.

If one were built, I'd suggest either the site north of the Convention Center (Enterprise) or the First Citizens site on Fayetteville St. I suspect sites 2 & 3 will not be high rise and site 4 may be a hotel, but I doubt the market is going to demand a high rise there either.

But you know what, we don't need high rises to have a great downtown anyway. We need more districts like Hatem's Corner, and less like the sterile South End.

Link to comment
Share on other sites
Jones_ City

Jones_

Posted
Posted

The Credit Union building does draw attention to important ideas. Smaller local and regional banks in theory understand their regions much better. We all more or less know or think (I think) that Raleigh is stronger than the rest of the country in many economic regards. If that's true our local banks should recognize that and look to position themselves to not just profit from it but help new growth along. The Credit Union building is mostly spec space. BofA et. al. would not build spec space in Raleigh now. Capital Bank is backing Blount Street Commons...a development I think still will do well in the short term.

Link to comment
Share on other sites
RALNATIVE Burg

RALNATIVE

Posted
  • Author
Posted

If i'm not mistaken, I'm pretty sure that Suntrust is just trying to stay afloat these days and not so much thinking about building a new tower.

On the other hand, I've got to say that i'm impressed with what I see coming from First Citizens. They have been quitely acquiring smaller and failed banks over the past few years, and beefing up their infrastructure. Now that they have expanded across country, they are at a point where they really need to get their name out there as a major player in the banking industry. One of the best ways to do this is by building a tower in their home territory. For banks, having a mini campus (i.e. North Hills location) is not enough, they usually go the route of making a bold statement with an impressive tower that bears their name and logo. That's one of the main reasons why RBC decided to move it's headquaters from Rocky Mount into a tower in downtown.

Link to comment
Share on other sites
DwnTwnRaleighGuy Hamlet

DwnTwnRaleighGuy

Posted
Posted
If i'm not mistaken, I'm pretty sure that Suntrust is just trying to stay afloat these days and not so much thinking about building a new tower.

On the other hand, I've got to say that i'm impressed with what I see coming from First Citizens. They have been quitely acquiring smaller and failed banks over the past few years, and beefing up their infrastructure. Now that they have expanded across country, they are at a point where they really need to get their name out there as a major player in the banking industry. One of the best ways to do this is by building a tower in their home territory. For banks, having a mini campus (i.e. North Hills location) is not enough, they usually go the route of making a bold statement with an impressive tower that bears their name and logo. That's one of the main reasons why RBC decided to move it's headquaters from Rocky Mount into a tower in downtown.

Link to comment
Share on other sites
Jones_ City

Jones_

Posted
Posted
If i'm not mistaken, I'm pretty sure that Suntrust is just trying to stay afloat these days and not so much thinking about building a new tower.

On the other hand, I've got to say that i'm impressed with what I see coming from First Citizens. They have been quitely acquiring smaller and failed banks over the past few years, and beefing up their infrastructure. Now that they have expanded across country, they are at a point where they really need to get their name out there as a major player in the banking industry. One of the best ways to do this is by building a tower in their home territory. For banks, having a mini campus (i.e. North Hills location) is not enough, they usually go the route of making a bold statement with an impressive tower that bears their name and logo. That's one of the main reasons why RBC decided to move it's headquaters from Rocky Mount into a tower in downtown.

Link to comment
Share on other sites
Gard Burg

Gard

Posted
Posted

^

Here is the rundown in total assets, ordered from least to most...

North State Bank .....................................................................$571.5 Million

Capital Bank............................................................................$1.7 Billion

First Citizens (recent acquisitions not yet included).........................$17 Billion

RBC Bank USA (not counting its parent)........................................$33 Billion

BB&T (Colonial Bank acquisition not yet included)............................$152.4 Billion

I am estimating that First Citizen's recent acquisitions will put it somewhere around $20 Billion. So really when compared to BB&T, everyone else in this bunch is small potatoes. RBC, however, has the leverage of its parent, which is the 12th largest bank in the entire WORLD, with assets of approximately $1 Trillion US dollars, so they are nothing to sneeze at. Keep in mind too that when RBC Centura grows, its not their assets that are used in making the acquisition, but its parent's assets, so its really hard to separate the parent from the subsidiary.

Link to comment
Share on other sites
Subway Scoundrel Hamlet

Subway Scoundrel

Posted
Posted

I have been told by very good sources that 1st Citizens has no plans and will never have plans to move DT. Their HQ is North Hills and that is where they plan on staying. I believe they bought that building in NHs after ditching the plans to build a half moon building to go with the round bank building at NHs.

I am not sure they own the building DT that holds their name but they sold the property that the RBC building sits on. Not sure they would sell the best lot for a building to come back and build another building.

Now Mr. Holden just died but I know someone who asked him personally and he got very POed and he was told don't bring that subject up again as 1st Citizen is not going to move DT.

Link to comment
Share on other sites
DPK Hamlet

DPK

Posted
Posted
I have been told by very good sources that 1st Citizens has no plans and will never have plans to move DT. Their HQ is North Hills and that is where they plan on staying. I believe they bought that building in NHs after ditching the plans to build a half moon building to go with the round bank building at NHs.

I am not sure they own the building DT that holds their name but they sold the property that the RBC building sits on. Not sure they would sell the best lot for a building to come back and build another building.

Now Mr. Holden just died but I know someone who asked him personally and he got very POed and he was told don't bring that subject up again as 1st Citizen is not going to move DT.

Link to comment
Share on other sites
NCMike1981 Burg

NCMike1981

Posted
Posted

I've always been suprised Bank of America doesn't have a more prominent tower, their current tower just sort of blends in with the background. I've heard this is because BOA doesn't have that strong of a market position in the Triangle and also b/c they've invested so much money in Charlotte....any thoughts?

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using this site you agree to our Terms of Use and Privacy Policy. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.