CHARLOTTE, N.C.--(BUSINESS WIRE)--Chase announced today that it is growing in North and South Carolina, hiring more employees, adding new branches and more corporate office space in the region. By 2025, the firm expects to exceed 100 branches throughout both states.
In 2018, Chase announced that it was opening 40 branches throughout the Carolinas, including in low- to-moderate-income (LMI) locations. Today the firm has 48 branch locations in North Carolina and South Carolina, including eight in LMI locations, surpassing the firm’s original commitment. Driven by the demonstrated customer growth and demand, the bank will increase its branch presence in cities like Charlotte (NC), Raleigh/Durham (NC), Charleston (SC) and Greenville (SC), but will also add new cities to its retail branch network including Greensboro (NC), Columbia (SC) and Myrtle Beach (SC).
"As our firm has grown in this region, so has our customer and client base. In fact, our growth has exceeded all of our expectations, but we still have more to do," said Jennifer Roberts, CEO of Chase Consumer Banking. "In the next few years, we plan to grow our presence throughout the Carolinas through new branch locations and more employees to serve the existing and increasing customer demand. We look forward to helping even more people, businesses and communities in this region build an even stronger, more resilient financial future."
JPMorgan Chase has had a presence in Charlotte for nearly 20 years, which has grown by adding new bankers, support functions and teams in the market to serve more clients in the market and across the globe. The Commercial Banking business plans to hire more than 200 new employees in the company’s office in Charlotte by the end of 2024, where the firm is adding 24,000 square feet of additional office space to accommodate them at the Rotunda building.
“We’re excited to expand our presence in Charlotte to serve more businesses locally, across the US and globally,” said Dan Wilkening, Commercial Banking Chief Administrative Officer at JPMorgan Chase. “We will continue to invest in the region, hiring top talent to join our banking technology, lending, client service and onboarding teams to deliver even more value to our clients.”
Beyond the Queen City, the firm serves business and corporate clients through Commercial Banking offices in Charleston, Greenville, Greensboro and the Triangle. With continued business growth in the region, including across Business Services, Manufacturing and Distribution, Commercial Banking’s Middle Market Banking & Specialized Industries group has increased its client base in North and South Carolina by 85% over the last two years.1
Carolinas Branch Growth and Riverbend Village Branch Opening
Since it began opening branches in the Carolinas, the bank has seen steady growth in its customer base and deposits. In fact, Chase moved from number 53 in the FDIC’s annual deposit market share rankings in 2020 to number 25 in 2022. Similarly in South Carolina, Chase was ranked number 68 in the FDIC’s 2020 report, and moved up to number 37 in 2022.
Chase is celebrating its most recent branch opening in the region in the Riverbend Village area of Charlotte. Chase branches are designed to be advice centers for customers and clients, combining modern design, open layout, and state-of-the-art banking technology that reflects how customers engage today. In addition to the branch manager, Datwan Green, the team at the new 3,500 square foot branch at Riverbend Village includes three relationship bankers, a Private Client banker, a home lending advisor, a financial advisor and a business banker, as well as three ATMs for transactions. The branch also features Chase Private Client offices, teller services, a night depository, and free Wi-Fi.
Additional short-term branch growth commitments in the Carolinas include the following:
- Charleston: adding two branches in LMI locations in the Low Country by the end of this year.
- Charlotte: adding four more branches in the region by the end of 2024.
- Columbia: opening the first two branches by the end of this year.
- Greensboro/the Triad: opening the first branch by the end of this year, with plans to add two more by the end of 2024.
- Myrtle Beach: opening the first branches in Myrtle Beach and the surrounding communities in the next two to three years.
- Raleigh/Durham: adding six more branches in the Triangle by the end of 2024.
In addition to expanding its branch network and real estate in the Carolinas, JPMorgan Chase will continue to work with local and community partners to help drive inclusive economic growth. Since 2018, the firm has invested more than $4.6 million in North Carolina and South Carolina with nonprofit organizations and universities to support jobs and skills training, small business growth, neighborhood revitalization, and financial health. The firm has also invested more than $100 million in minority depository institutions around the country, including in M&F Bank in North Carolina and Optus Bank in South Carolina.
About Chase
Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading financial services firm based in the United States with assets of $3.9 trillion and operations worldwide. Chase serves nearly 80 million consumers and nearly 6 million small businesses, with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: More than 4,700 branches in 48 states and the District of Columbia, more than 15,000 ATMs, mobile, online and by phone. For more information, go to chase.com.
1 Client volume increase from May 2021 to May 2023.
