JPMorgan Chase Adding 100 Branches in California

By Sara Lepro April 04, 2011, 12:48 p.m. EDT 1 Min Read

JPMorgan Chase & Co. announced Monday that it will open 100 branches in California this year, bringing total locations in the state to more than 900.

The additional bank branches will create more than 1,500 jobs, the bank said.

Most of the new branches will be concentrated in Southern California.

California is one of the areas JPMorgan Chase has targeted for expansion. The bank previously said it would open up to 225 branches in 2011 in both California and Florida — areas it extended into through its purchase of Washington Mutual Inc. in 2008. JPMorgan Chase may build as many as 2,000 new branches over the next five years, with up to 700 branches being added in California alone.

The company opened 154 branches in 2010. The additional branches in California will bring the total number of banking locations to more than 5,300.

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