Distance, cost keep big U.S. banks from setting up branches in Hawaii

Hawaii’s distance from the U.S. Mainland, the state’s small population and high real estate costs are among the factors analysts say are keeping the nation’s 10 largest banks from establishing a retail presence in the islands.

CNN Money reports Hawaii is the only state where the big banks such as Bank of America (NYSE: BAC), Citi (NYSE: C), Chase (NYSE: JPM) and Wells Fargo (NYSE: WFC), have no ATMs or branches, primarily because of the cost that would be involved in operating in a state that is…

via Honolulu Business News – Local Honolulu News | Pacific Business News of Honolulu http://feeds.bizjournals.com/~r/bizj_pacific/~3/EJLE26pmH_M/distance-cost-keep-big-us-banks.html