A new JPMorgan Chase branch in Charlotte, in North Carolina.
With kind permission: JPMorgan Chase
JPMorgan Chase has built 1,000 new branches in seven years. It is more locations that most of its competitors work in total.
The bank marks the opening of the step in Charlotte, in North Carolina, Thursday where the president and chief executive officer Jamie Dimon attends a ceremony ceremony. The company has around 5,000 branches, most of any American bank, according to data from the Federal Reserve of March.
“It is a big marker for us to be able to say that you can see our commitment over time and we are on a marathon with regard to this expansion,” said Jennifer Roberts, CEO of Chase Consumer Banking, in an interview. “Thousand [branches] is significant – a thousand is larger than many regional competitors.
In 2018, JPMorgan operated bank branches in 23 US states and said it would extend up to 20 new markets over the next five years with around 400 new locations. By 2021, the firm said it had branches in the 48 lower states. And last February, JPMorgan announced a new investment of several billion dollars to open 500 other new locations by 2027.
The CEO of JPMorgan Chase, Jamie Dimon, speaking with Leslie Picker from CNBC to Charlotte, NC on July 31, 2025.
David A. Grogan | CNBC
JPMorgan has said that in the past seven years, Chase has opened more banking branches than all of its large combined banking peers. However, many JPMorgan competitors have recently announced its intention to expand their own footprints while the quest for deposits heats up.
America Bank recently announced an extension of branch, with plans to open 150 new centers by 2027. Wells Fargo Plans to add branches, especially now that it has completed a regulatory consent order which had forced its growth.
Industry growth plans could help reverse a trend dating from the 2008 financial crisis in which the United States has seen the net number of falling banking branches. The combination of fewer overall banks and the advent of online banking services has largely rendered the locations of brick and mortar. However, in recent years, in particular in the middle of the migration of the population during and after the pandemic, the banks have reoriented their fingerprints to capture more deposits.
The expansion to Charlotte puts head-on JPMorgan with a Rivale Bank of America, which has its registered office there and has 71% market share in the city, according to KBW and S&P Global Market Intelligence Data.
Roberts said that after this last opening, Chase will have around 75 branches in North Carolina. She said that the bank stretched out because of its “fast growing young population” and that there is also “a lot of wealth in this region”.
JPMorgan said in investor day in May that its new branches should ultimately contribute more than $ 160 billion in progressive deposits. The firm said that each new branch breaks even in four years.
JPMorgan said that when its expansion is over, Chase has added more than 1,100 branches, renovated 4,300 locations and entered 80 new markets. It also expects 75% of the American population to be able to reach one of its branches in “accessible training”.