Prosperity Bank president Kevin Hanigan passes eight banks each day on his half-mile drive to work in Frisco.
“There’s a lot of banks trying to get here,” said Hanigan, whose bank operates 65 locations in Dallas-Fort Worth. “And if they’re already here, they’re trying to get bigger as fast as they can. Maybe the first question we should think about is, ‘Why?’”
The great bank migration into Dallas-Fort Worth is directly tied to the general influx of people to the area, bank executives say. D-FW had the largest population increase in the past decade of any metro area in the U.S., with a 19% boost that added 1.2 million people, according to the U.S. Census Bureau.
And people typically follow business and job growth. In the past year, the Dallas Regional Chamber has tracked more than 50 corporate relocations or expansions into D-FW in spite of the pandemic.
“The banking business is only as good as the economy it operates in, so everybody…