On July 31, 2025, JPMorgan Chase celebrated the opening of its 1,000th new branch since launching its expansion strategy in 2018. The milestone was marked with a ribbon-cutting ceremony in Charlotte, North Carolina, attended by Chairman and CEO Jamie Dimon. With approximately 5,000 branches, JPMorgan Chase operates the largest branch network of any U.S. bank, surpassing competitors, as per Federal Reserve data from March 2025.
The bank has opened more branches than all its major peers combined over the past seven years, driven by a goal to capture deposits and expand into new markets. Since 2018, JPMorgan has entered 80 new markets, added over 1,100 branches, and renovated 4,300 locations. It projects that 75% of the U.S. population will be within an accessible drive of a Chase branch once the expansion is complete. New branches are expected to generate over $160 billion in incremental deposits, with each breaking even within four years.
Jennifer Roberts, CEO of Chase Consumer Banking, emphasized the long-term commitment, stating, “A thousand [branches] is significant – a thousand is bigger than many regional competitors have at all.” The strategy targets underserved areas, including low-to-moderate income and rural communities, and affluent markets, with over 20 branches tailored for high-net-worth clients, many repurposed from the 2023 First Republic Bank acquisition. JPMorgan also plans to open 500 additional branches by 2027, renovate 1,700 existing ones, and hire 3,500 employees.
This expansion counters a post-2008 trend of declining U.S. bank branches, fueled by online banking and bank consolidations. However, competitors like Bank of America (150 new centers by 2027) and Wells Fargo are also growing their footprints as deposit competition intensifies. Critics argue JPMorgan’s scale gives it an edge, but question whether smaller banks should follow suit, given digital banking’s rise. Still, 75% of Chase’s deposits come from customers who visit branches annually, underscoring their enduring value.