New Approach to Supermarket Banking.

• Position: Brief Article

Lots of banks open branches in supermarkets. Not many supermarkets, however, open their own banks.

An exception is Ukrop's, a Richmond-based grocery chain that has been the majority owner of First Market Bank since 1997. The bank opened in 1997 in seven in-store branches. Today is has 22 branches, including six freestanding offices, and assets of $700 million.

Perhaps more important from Ukrop's standpoint: About 10 percent of the store's customers have opened accounts with First Market Bank. In fact, First Market is now the state's largest Richmond-based bank.

In addition to performing the usual services that supermarket branches engage in, First Market has a substantial portfolio of small-business loans, and it offers a frill range of services including checking and savings accounts, Internet banking and brokerage services.

Originally, Ukrop's intention had been to go about...