The second largest bank in the country has just announced plans to open more than 500 branches nationally between now and 2022.
The Charlotte, North Carolina-based Bank of America Corp, whose total 2017 assets of $2.2 billion were exceeded only by New York’s JP Morgan Chase with $2.5 billion, plans to initially enter the Ohio market with new outlets in Cincinnati, Cleveland, and Columbus.
The bank, which currently has just under 4,500 operating branches nationally, has also announced plans to redesign more than 1,500 of its locations, building on the recent renovations of more than 600 branches.
In a statement, Thong Nguyen, the co-head of consumer and small business at Bank of America, said “We continue to deploy significant resources to meet the changing needs of an expanding client base, providing access to capabilities and financial professionals who will offer solutions aligned with our clients’ priorities.”
Exactly where the new branches will be built has not yet been disclosed. Nearly half of Bank of America’s current locations are primarily dotted along the East Coast. It operates more than 150 branches in Arizona, Colorado, and New Mexico, with the vast majority of that number located in Arizona.
By Garry Boulard
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