According to the Kansas City Business Journal, total banking deposits in Kansas City continued to grow despite the fact that banking activity overall seems to be on a downward trajectory. But that's just not the case in this Midwest city. The Kansas City Business Journal has more:
Kansas City-area deposits grew by $2.78 billion to $45.6 billion as of June 30. That’s up 6.5 percent from $42.83 billion a year ago.
Bob Wray, CEO of Lenexa-based bank consultants The Capital Corporation LLC, said trends in online banking are causing the shrinking of bank branch networks, which require a lot of overhead to maintain.
