JPMorgan Chase announced a multibillion‑dollar program that will add more than 160 new branches and renovate nearly 600 existing locations across more than 30 states. The expansion is part of the bank’s 2024 pledge to open 500 new branches over three years and to capture 15 % of U.S. retail deposits. The plan also includes hiring 1,100 new employees, bringing the consumer‑banking workforce closer to the 10,500‑person goal set for the year.
The new branches will bring Chase into low‑to‑moderate‑income and rural communities, with a focus on states such as North and South Carolina, Florida, Pennsylvania, Kansas, Massachusetts, and Tennessee. The rollout will strengthen the bank’s presence in the Northeast, Southeast, Heartland, and Southwest, and will reinforce its status as the only bank with branches in all 48 lower‑48 states.
Chase expects the new branches to reach profitability in about four years, a timeline that reflects the bank’s hybrid model of combining digital convenience with face‑to‑face service. The expansion is designed to deepen customer relationships, support local businesses, schools, hospitals and nonprofits, and to create cross‑selling opportunities that can drive deposit growth.
"Every Chase branch is a reflection of its neighborhood—staffed by local experts, designed with local input, and focused on delivering the right solutions for every customer," said Jennifer Roberts, CEO of Chase Consumer Banking. "We know that building branches and getting into markets is a critical part of getting that deposit share." Stevie Baron, Head of Private Client Banking, added, "J.P. Morgan Financial Centers are designed to offer a new level of service and expertise for our clients." Tom Horne, head of consumer branch banking, noted, "Branches are more than just a place to transact."
The expansion is part of a long‑term strategy that began in 2018 and was reinforced in 2024. It reflects Chase’s belief in a hybrid banking model that balances digital channels with physical presence, and its commitment to community‑focused initiatives. The bank’s assets were $4.4 trillion as of December 31 2025, with domestic assets of $2.75 trillion as of September 30 2025, underscoring the scale of the organization that is investing in this physical footprint.
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