JPMorgan Chase & Co. plans to add 15 branches in Texas, bucking the trend of many banks that are closing branches due to the convenience of online banking. The Dallas Business Journal reports that of the 15 branches, five will open in DFW. The company plans to open 500 branches nationwide.
As part of its broader plan, Chase will renovate about 1,700 locations and hire 3,500 employees nationwide. The bank renovates roughly 25 branches in North Texas per year and intends to increase that number to more than 30 annually.
JPMorgan Chase (NYSE: JPM), the largest retail bank in the U.S., has a major presence in DFW. At the end of last June, it ranked as the second-largest bank in the region by deposits with more than $91 billion held.
The bank’s footprint includes 186 branches, a large campus in Plano and 131,000 square feet of office space across five floors in a downtown Dallas tower. Chase employs more than 17,000 people in DFW.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.