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IBC Bank plans to close 14 branches located in H-E-B stores in San Antonio by the end of the year.

The branch closings will lead to the elimination of 134 positions, but Laredo-based parent International Bancshares Corp. anticipates most employees will be absorbed by its other branches.

Overall, IBC expects to close 55 smaller, in-store branches that employ about 500 people. The closings include one branch in an H-E-B in New Braunfels.
IBC Bank blamed the closings on the reduction in fees that big banks can collect on debit-card transactions starting next month. Those interchange, or “swipe,” fees currently average about 44 cents per transaction, but will drop to about 21 cents.

Dennis Nixon, IBC's chairman and CEO, said in a statement that the bank has used the fees to allow it to offer free products and services to customers and to cover other costs.

Other banks, he added, have cut their free offerings and rewards programs. But IBC customers want those offerings and programs to continue
“To keep these free offerings in place, we have to reduce expenses,” Nixon said.
IBC will continue to operate 26 branches in San Antonio and four others in the local market. The bank has $11.8 billion in assets and 275 locations in Texas and Oklahoma.

H-E-B plans to look for tenants to fill the space where IBC was operating in its grocery stores.

“It is our intention to fill those spots,” said H-E-B spokeswoman Dya Campos. “In some stores it might be a bank. In other locations, it might be better to put something else in there and try something different. We have no commitment to any one particular industry right now.”


Read more: http://www.mysanantonio.com/business/article/IBC-Bank-closing-branches
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Originally posted by AURaptor:

Just as we've seen w/ the impending ObamaCare disaster, more needless, idiotic regulations , intending to HELP people, are going to put folks out of work, and cost bank customers money and add inconvenience. And for what ? More govt control.

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Originally posted by AURaptor:
As more and more lose their jobs, some blindly defend this President. Amazing.

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Originally posted by m52nickerson:
Until you address the points above you will be ignored. Your stance on health care has been addressed before.

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Originally posted by Kwicko:
Since the Bush collapse, bank profits are up more than 135%. More money for them, yet lending is still down by 9% and they're laying off more and more. Citibank's profits are up, yet they're cutting thousands of jobs AND implementing a $5/month fee for using your debit card.

Yeah, it must be all the regulations... (Not)

"Although it is not true that all conservatives are stupid people, it is true that most stupid people are conservatives." - John Stuart Mill

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Originally posted by AURaptor:
As more and more lose their jobs, some blindly defend this President. Amazing.

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