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Research & Testimony on Whether Village of Bolingbrook is Underserved
by Bank Branches

Client: Moss & Bloomberg, Ltd.
dashed line separator For a lawsuit over a denial of a permit for the construction of a bank branch with drive-through facilities, the Village of Bolingbrook's legal counsel, the law firm of Moss & Bloomberg, engaged Gruen Gruen + Associates (GG+A) to conduct research in order to reach a judgement on whether the Bolingbrook banking market was underserved by bank branches.

A synthesis of our site inspection, analysis of a report by the bank's consultant, interviews with a sample of bankers operating in the market area, a review of relevant demographic data, FDIC deposit data, and review of relevant articles on banking resulted in the following conclusions:
  1. Bolingbrook is not under-served by bank branches;
  2. An additional bank branch with drive-through facilities will not add to consumer welfare in the market area; and
  3. In the long-term, drive-throughs will be obsolete.
In addition, we identified a relevant economic issue related to the underlying legal issue in dispute. Our research concerning the shopping center market and consideration of the economic rationale for zoning also produced the conclusion that an additional bank branch with drive-through facilities will impose an opportunity cost on the businesses in the subject shopping center, residents/consumers of Bolingbrook and fiscal health of Bolingbrook Given the existing supply of bank branches in the immediate area, we concluded that an additional bank branch with drive-through facilities would not generate positive spill-over for other businesses in the shopping center and therefore would not enhance the competitive position of the shopping center.

GG+A's Principal Economist was deposed by the defendant's attorney and subsequently testified at trial before Judge Penn of the Circuit Court of the Twelfth Judicial Circuit, Will County, Illinois. GG+A's Senior Market and Financial Analyst consulted as to the research agenda of the appraiser and planner opinion witnesses as well as evaluated the work of the defendant's banking consultant and assisted in the preparation for the deposition of that witness.

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