MILWAUKEE - Some major banks in Wisconsin have scaled back their off-site ATM deployments in off-premise locations, citing slow profits and a dearth of good locations, according to a report in The Business Journal of Milwaukee.
The Nov. 23 story cited reductions in the Wisconsin fleets at Bank One (11 percent), Associated Banc-Corp of Green Bay (15 percent). U.S. Bancorp, however, has increased its numbers by 10 percent to 156 off-site ATMs in the Badger state.
While the news story cited the trend by major banks in reducing the deployment of off-premise locations, it indicated that some smaller banks are increasing their footprint by placing more ATMs off-site. It said State Financial Services Corp. expects to boost its deployments by 10 percent to 55 machines.
David Stein, a senior vice president for Bank One Corp. in Chicago, was quoted in the story saying that his bank had changed its strategy as a result of less-than-expected profits from ATMs. He added that many in the industry believe that most of the good locations for ATMs are already taken, many be non-bank deployers.
