Wednesday, November 29, 2017

Why Bank of America waited until now to open a Seaport branch

Image result for bank of americaWith the official opening of its Fan Pier branch on Tuesday, Bank of America now has a brick-and-mortar presence in Boston’s Seaport District. It’s obvious why the banking has entered the neighborhood: Business-wise, the area is booming, with a major new commercial tenant announcing its arrival seemingly every other week.

A more relevant question is, why now? Leader Bank ventured into the Seaport more than two years ago. Blue Hills Bank has been there for a year. The neighborhood’s high rents should have given BofA little pause, considering it generates billions of dollars in profits each quarter. So what took it so long?. . . more

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