Turnkey Bank Branch in an Underserved Market
Weiser lost its Wells Fargo branch in 2020 after 57 years, creating a significant opportunity for community financial institutions
From 4 financial institution offices a decade ago to effectively 2.5 today
There is no standalone credit union branch in all of Washington County
The only CU presence is an in-store kiosk inside Ridley's Family Market
HHI of 3,169 (well above DOJ's 2,500 threshold for "highly concentrated")
Signals rapid market share capture opportunity for new entrants
Weiser grew 2.2% in 2023, Washington County grew 2.39% — both above Idaho's statewide average
Projected to exceed 11,400 county residents by 2025
57 years of continuous banking operations in Weiser's downtown core
NNN expenses approximately $3.50-$6.50/SF/year (property taxes, insurance, CAM)
Typical lease terms: 10-20 years with renewal options and 2-3% annual escalations
Existing bank buildout eliminates months of construction and massive capital expenses
$75K-$200K+ value
Reinforced structure and vault door system
$50K-$150K value
Complete drive-through lane
$30K-$75K value
Custom teller line with security features
$10K-$25K value
Placement infrastructure and connectivity
$25K-$75K value
Cameras, alarms, and monitoring cabling
$15K-$50K value
Installed safe deposit box system
Textbook community banking demographics in a growing Idaho market
Washington County seat concentrating government services, county payroll, and administrative functions
Prefer in-person banking services (FDIC research)
Historically underbanked demographic
Limited digital banking alternatives for 30% of residents
CRA-eligible lending program opportunities
Washington County is part of the largest onion-growing region in the United States
Farmers need face-to-face relationships with loan officers who understand agriculture
Only 2 bank branches and 1 grocery-store CU kiosk for 12,000-15,000 people. HHI of 3,169 means a new entrant can capture significant share quickly.
Weiser grew 2.2% in 2023, Washington County grew 2.39% — both above Idaho's statewide average. This is not a shrinking market.
High concentrations of seniors (24.2%), Hispanic residents (25.8%), and limited broadband access (30% without) create strong demand for in-person banking.
Part of America's largest onion-growing region. Local farmers need lending relationships for equipment, seasonal lines, and land loans.
The vault, drive-up window, teller counter, and infrastructure at 407 State St mean operational in weeks — saving $250K-$600K+ in buildout costs.
Interested in establishing your institution in Weiser? Let's discuss how 407 State St can serve as your turnkey banking location.
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