Capital One Bank to close Katy office

February 8, 2019

Capital One Bank plans to close a Katy-area office on May 9.

The Pin Oak-Katy Branch with ATMs is located at 1250 Pin Oak Road and offers planning and asset management. It is not a full-service branch.

Services were reduced at that location about two years ago when Capital One closed its branch at 870 S. Mason Road. That leaves in Katy the full-service Capital One Branch at 23910 Westheimer Parkway.

An account manager, who declined to be named, said: “The reason the bank is closing the branch is Capital One is going digital. Customers will have access to their account on their own as opposed to waiting in line at a branch.”

The bank has 22 Houston area branches, according to its the Capital One website. A Nov. 3, 2014, Houston Chronicle banking article said Capital One had about 50 branches at that time.

Daniel Bass, managing director, Performance Trust Capital Partners, said: “Capital One is going more digital and more retail focused.”

A banking expert for close to 30 years, Bass said it’s a different business model than that being pursued by Frost Bank, which recently announced plans to open three branches in Fort Bend County, including two in Katy.

“Both can be successful,” said Bass. “They are two different types of banks. Both business models work. There is merit to both strategies. There’s no reason not to think that both strategies can be successful.”

Capital One has a more retail orientation with a lot of transactions using debit and credit cards, ATMs and mobile apps, he said. While Frost feels brick and mortar provides a good entry point to provide products and services. “Frost has a more holistic relationship with loans, wealth management and higher end services,” he added.

As to a trend in banking, Bass said that would be a move to less branches overall, but there are exceptions like Frost. “I think more and more banks are going with less brick and mortar.”


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