While many banks are scaling back, JPMorgan Chase & Co. is doing the opposite. Over the past five years, the nation’s largest bank has added 47 new branches across the nine-county Philadelphia metro region — bringing its total to 70.
“We open branches because customers demand them,” said Jason Patton, recently appointed head of consumer banking for Pennsylvania, South Jersey, and Delaware, where he oversees nearly 1,000 employees.
In contrast, other financial institutions have collectively closed 270 branches in the same period, reducing the regional total to 1,293 locations, according to FDIC data. The trend reflects how national bank consolidations and the rise of mobile banking have led many out-of-town owners to pare down their physical footprints — while Chase continues to double down on in-person service.
*Article courtesy of The Inquirer
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