JPMorgan Chase is moving forward with a major expansion of its physical banking network, announcing plans to open more than 160 new branches across over 30 states in 2026.
The move is part of a broader three-year plan to add more than 500 branches nationwide, reinforcing the bank's belief that Americans still value face-to-face service.
The expansion will focus heavily on North Carolina, South Carolina, Florida, Pennsylvania, Kansas, Massachusetts, and Tennessee.
The bank also plans to renovate nearly 600 existing locations next year. In addition, it expects to hire about 1,100 new employees as it works toward adding more than 10,500 consumer banking staff.
Under its Chase brand, JPMorgan Chase already operates in every contiguous US state except Hawaii and Alaska.
According to Reuters, the company aims to capture 15% of the nation's retail deposits through this multibillion-dollar investment in brick-and-mortar banking.
"Chase branches are more than just a place to transact; they are vital engines driving economic activity and supporting people, businesses, schools, hospitals and nonprofits," said Tom Horne, head of consumer branch banking.
His comments highlight the bank's view that local branches still play an important role in communities.
JPMorgan to open over 160 Chase branches across US this year, bucking global trends https://t.co/7wDawALNac pic.twitter.com/ysxWbaPJck
— New York Post (@nypost) February 18, 2026
JPMorgan Takes Different Path
The strategy stands out at a time when many banks around the world are shrinking their physical footprints.
In the United Kingdom, for example, more than a third of bank branches have closed in the past five years as companies shift toward digital and phone-based services.
JPMorgan entered the UK market in 2021 with a digital-only banking model, showing it can adapt overseas while taking a different approach at home, NY Post reported.
A study by Accenture found that more than two-thirds of US consumers value living close to a bank location.
The preference is strongest among baby boomers, though many younger customers also appreciate in-person service.
Other major banks are also expanding. Bank of America opened nearly 50 new branches last year and plans to add more by 2027.
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