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Feasibility Study for CNB Branch Office in Durbin/Bartow Area

This study assesses interest in ATM or branch office by CNB in Durbin/Bartow, WV, revealing strong preference for a bank branch, urging management to consider this move.

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Feasibility Study for CNB Branch Office in Durbin/Bartow Area

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  1. WHAT IS THE ISSUE? • To study the feasibility and level of public interest of installing an ATM machine, small branch office, or both, or neither, in the Durbin/Bartow, WV area for Citizens National Bank (“CNB”).

  2. WHAT IS OUR GOAL? • Provide management with a tool to aid in their decision as well as our recommendation as a team.

  3. WHAT IS THE SAMPLE? • 678 questionnaires mailed. • 93 received and usable – 14% response rate. • Consisted of people living in Pocahontas County. Included zip codes of Durbin, Dunmore, Arbovale, Green Bank, and Bartow, WV.

  4. Q: FREQUENCY OF CARD USE?

  5. Q: RATE THE IMPORTANCE OF HAVING A BANK LOCATED IN THE BARTOW/DURBIN AREA.

  6. Q: DETERMINE PUBLIC INTEREST

  7. Q: WOULD YOU MOVE ACCOUNTS?

  8. THE TEST: CHI SQUARE

  9. CHI SQUARE, CONT.

  10. CHI SQUARE, CONT.

  11. ASSESSMENT OF CHI SQUARE • There is a statistical significance between the questions asked and the answers given: • P VALUE is < .05 • The Chi Square is more than the critical value • Therefore, a relationship exists between the variables. • So? What does that mean for management?

  12. MANAGEMENT REPORT • Significant level of interest in locating a Citizens National Bank branch office or an ATM in the Durbin/Bartow area. • Branch office appears more lucrative to the public based on the answers to the questions. • BOTTOM LINE? Management should move forward to strongly consider locating a Citizens National Bank branch office in the Durbin/Bartow area.

  13. WAS THE STUDY PERFECT? • No, we found several flaws in the results of our study. • In fact, the importance of locating a branch office in the Durbin/Bartow area is probably understated.

  14. DID WE MEET OUR GOAL? • YES!

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