JPMorgan Chase has disclosed plans to expand its physical presence by establishing more than 160 new branches in over 30 US states and refurbishing around 600 existing locations in 2026.

This initiative forms part of a multi-year strategy outlined earlier in 2024.

Under this strategy, the bank targets the opening of over 500 additional branches, modernisation of 1,700 sites, and recruitment of 3,500 employees over a three-year period.

The expansion is expected to extend services to new areas, including low-to-moderate income and rural communities.

The bank intends to bolster its footprint particularly in the Northeast, Southeast, Heartland, and Southwest, regions it describes as “fast-growing”.

At present, JPMorgan Chase runs the largest branch network among US banks and covers all lower 48 states.

Since 2018, investments have led to the opening of over 1,000 new branches and upgrades to hundreds.

The company has also introduced branch concepts customised for specific neighbourhood needs.

For example, the Downtown Flushing branch in Queens employs around 70 specialists and the Community Center in Brooklyn is set up for local events and financial education.

Community engagement remains a focus, with each branch staffed by teams tasked with supporting customers’ financial management.

Currently employing around 160 community managers, expected to increase to 225 by 2030, the bank collaborates locally to promote financial education.

The latest expansion will see the hiring of around 1,100 new staff members, advancing toward a goal of adding more than 10,500 Consumer Bank employees by the end of the year.

The current workforce includes over 50,000 bankers and advisors nationwide.

Further growth is scheduled for states such as North Carolina, South Carolina, Florida, Pennsylvania, Kansas, Massachusetts, and Tennessee in 2026.

Additionally, JPMorgan Chase plans to expand its J.P. Morgan Financial Centers, specialist branches offering services for clients with more complex needs.

There are currently 21 such centres operating nationwide with an additional ten anticipated to open by the end of 2026.

The bank also said it continues to provide a range of consumer financial products and digital tools designed for flexible payments and Overdraft Assist. More than three million customers now use its Secure Banking account.

A digital Benefits Hub was recently introduced for Total Checking account holders, with more product improvements planned in future.

Chase Consumer Banking CEO Jennifer Roberts said: “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.

“Each branch represents our promise to stand alongside our customers as partners, helping them navigate and achieve their financial goals.”