Majority of Minnesota community banks polled plan to open lobbies in June

More than 45 percent of community banks polled in Minnesota plan to reopen their lobbies before the end of June; over 36 percent plan to open before June 15. The Independent Community Bankers of Minnesota surveyed bankers across the state last week gathering responses from nearly 100 bank executives. About 19 percent added in the comments that they opened in May and would continue serving the public in June. (View the survey results here.)

The second-largest group of respondents, just over 30 percent, said they have not yet decided on when to open. A little more than 4 percent said they will not open before July 1.

On requirements for masks, an overwhelming majority of bankers said they had no intention to require masks for staff or customers. More than 42 percent indicated they will not require masks. Another 35.9 percent responded in the “other” category. Their comments indicate that they are suggesting mask use, some are even provided masks for those who wish to use them. We are “permitting masks for customers, but we may ask them to [show their face] to allow us to identify them,” one banker commented. “Staff will wear masks in lobby.”

When asked how they are reopening their lobbies, over 64 percent of bankers said they will fully open their locations. Nearly 12 percent said they will limit customers to appointment-only, no one replied that they are limiting customers to the drive-thru.

The second largest response on reopening was “other.” The comments suggest that while most banks are opening lobbies, they are not returning to business as usual when it comes to facilitating customers’ visits to a branch. Some are offering appointment-only for loans and new accounts. Others are “fully open, however requesting appointments for officers and limiting the number of people in our lobby to 2.” Still others are “limiting lobby access to one customer at a time for teller transactions,” or they are “limiting access with decals and ropes to control traffic.”

On hours of operation, the vast majority – 85 percent – said their hours will be back to normal. Less than 5 percent said they plan to close early or to be closed on Saturdays. The second largest group – 10 percent – responded “other.” Comments indicate that some banks plan to phase-in normal hours as the summer progresses. Others are using a schedule to allow for sanitizing. “We will have regular hours, but we will be closed from 11-1 for cleaning and sanitizing, that also helps a limited staff to get lunch breaks,” said one banker. Five of the nine bankers who responded with “other” commented that they have not yet decided on their hours.

*Percentages have been rounded as needed for readability.

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