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WAYZATA, Minn. - TCF Bank, based here, announced yesterday that it will open eight more branches inside King Soopers grocery stores in the Denver area, bringing its in-store total with the Kroger Co.-owned banner to 11, the Denver Business Journal reports.
Three bank branches will open in August and September, while another four will open in October and November, according to TCF spokeswoman Brady Foster. An eighth will open in early 2005, she added.
Despite arguments that it's hard for banks to generate enough revenue in supermarkets to make such bank branches profitable, Foster said that TCF has experienced success at grocery stores.
"With thousands of customers browsing the aisles each week, supermarkets provide a near-captive audience for banks to market products and services to existing and potential customers. TCF has begun 'aisle selling' -- a soft sell of its products and services -- at a couple of branches," Foster noted.