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Out With The Old.., January 2017   10 comments

Posted at 1:07 am in commentary







You will have noticed the upgrades to the various First Citizens branches around town. In this case I actually think I like the new branding better than the old, which is definitely not always a given.

Written by ted on March 3rd, 2017

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10 Responses to 'Out With The Old.., January 2017'

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  1. This post got me to thinking about banks that are and have been in S.C. The inter-web says something to the effect that First Citizens is a bank based out of Raleigh NC and is now the 6th largest bank in the southeast among a lot of other info such as 575 branches, assets, holdings, all the boring stuff that does not apply to anything I care about.

    I tried finding a list of banks that have been in SC but got tired of searching after a few minutes. I remember these few...
    C&S, SCN, Bankers Trust, Wachovia, NBSC, Nations Bank?, Regions Bank, Fort Jackson Federal Credit Union which changed to Allsouth, I remember when they only had one branch on Fort Jackson. Square D Company which is now called Schneider Electric had their own bank called of course Square D Credit Union, it has since changed names and not affiliated with Square D anymore.

    @Homer - You may remember I asked if you knew a girl that went to Irmo High named Tracy Reading. You sent a picture of her to me out of your year book. I dated her back in 1976 and 1977. Her father was an executive of sorts at SCN back in the day. Tracy eventually got a job at SCN and it was about that time we quit dating, not because she went to work at SCN. But in those days working for a large bank was the bomb, thats where all the money was, besides insurance companies, and in most cases still is today.
    Makes one wonder though, why banks fail, merge, close, etc.

    As this post could imply, and the info on the web, First Citizens appears to be doing okay, as well as my bank, Allsouth Federal Credit Union. I RARELY go into a bank anymore. Online banking has virtually eliminated the need to stand in line. About the only time I go in is if I have a check that needs to be deposited or if I'm taking out a loan and need to sign the paperwork. I'm sure the brick and mortar banks will decline in the future as more people bank on line. However, I believe there will always be a need for SOME brick and mortar banks.


    4 Mar 17 at 9:57 am

  2. Don't forget First National bank of SC , People's Bank and Republic National Bank.


    4 Mar 17 at 10:07 am

  3. @Tom - Oh yea. First National and Republic. What was the bank downtown Columbia that was mostly associated with African Americans? MEANING nothing racial. Was that Peoples bank? I was trying to remember but could not.

    Being careful what I say, I'm not a raciest. I love all races, except marathons. I don't like marathons.


    4 Mar 17 at 11:09 am

  4. It was originally Victory Savings Bank. It changed names a while back, and had some bad financial problems, so I don't whether it's still in poperation.


    4 Mar 17 at 11:40 am

  5. @Rick - yeah I remember our previous conversation about Tracy. I don't remember her father from the time I was there.

    Remember when the Greystone Blvd. area was where SCN, C&S and Bankers Trust had their operations centers located.

    And Main St. was lined with the headquarters for all of the states' major banks.

    Gone are those days!!!


    4 Mar 17 at 8:52 pm

  6. @Rick, one no longer has to wait in line to deposit a check. I, too, use Allsouth, and with their phone app, you can take a picture of the front and back of the check, the bank reviews it, and deposits it. Sometimes, I love modern technology.


    4 Mar 17 at 11:52 pm

  7. I can count the number of checks on less one hand that I write every year.

    1. To the IRS
    2. Property taxes on my truck. They won't let me do it online as they claim I owe back taxes (which is BS)
    3. To my Mom (she's still old school)..haha


    5 Mar 17 at 12:07 am

  8. Less than one hand........


    5 Mar 17 at 12:08 am

  9. I can add Standard Federal S&L and Security Federal S&L. A lot of hometown banks have certainly come and gone....Peoples Bank of IVA, Newberry Federal S&L, Blue Ridge Bank, Farmers and Merchants Bank etc..

    It seems like every town with a population of over 3,000 had a local source. A lot of them were identified by their time and temperature signs, which made great egg throwing targets. Ah, life in a small town. John Cougar said it all.

    Joe Shlabotnik

    5 Mar 17 at 4:50 am

  10. @Cam - Thanks for that APP info. I'm going to get the APP now. I went into AllSouth this past week to deposit a check someone gave me and stood in line for twenty minutes. That may not seem like a long time to some people but it was killing me. Another thing, why does it take someone 10 minutes at the counter to make a transaction? I have never gone to a teller at the counter with anything that takes ten minutes. My transactions take two to three minutes at the most.

    And one more thing. People that are standing at the teller window leaning all over the counter, why not just stand up straight instead of lounging on the counter while waiting. I have friends that work at banks and they hate that. They also do not like when people are talking on their cell phone when at the window. I don't like it either, it adds to the length of time it takes to complete a transaction.

    @Homer - I'm the same. I write less than 10 checks a year. My most recent was to a plumbing company that did some work for me while I was at work and sent me a bill. They do not have a way to pay on the web so I sent them a check.
    By the way the name of the plumbing company is Shuler Plumbing. I got their name from a guy I work with. He used them when he was the maintenance man at St. Joes Catholic church. I highly recommend them for several reasons, they did a great job, they were fast and the price, VERY reasonable,
    about 1/2 compared to the big guys advertising on TV and radio. Please give them a try if you ever need a plumber.

    @Joe S. - I forgot all about Standard Federal S&L, as a matter of fact I financed a house with them back in 1984. Also forgot about Security Federal, I think both got caught up in the savings and loan crisis back in the 80's and early 90's. It was something like 1050 out of 3000 went belly up due to the Federal Reserve System raising the discount rate from 9.5% to 12%. The S&L Associations had already issued long-term loans at lower interest rates than the interest rates at which they could borrow money. They also had the liability of deposits which paid higher interest rates than the rates at which they could borrow, among other issues.


    5 Mar 17 at 11:44 am

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