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JPMorgan to open up to 40 branches over the next 3 years in Georgia

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JPMorgan to open up to 40 branches over the next 3 years in Georgia

JPMorgan Chase & Co. plans to open up to 40 branches over the next three years in Georgia, creating up to 200 jobs, the Atlanta Business Chronicle reported May 31.

The banking giant plans to open 30 branches in metro Atlanta, with 30% of those serving low- to moderate-income communities. There will also be new branches in Savannah and Athens, Ga., with that expansion to take place in the next 18 months, according to the report.

The company had said in September 2018 that it would add up to 25 branches in the state over the next three years, a move that it expected would create up to 150 jobs. It also hired more than 30 executives in Atlanta to serve consumers, private bank clients, and small and large companies at that time.

JPMorgan's branches in Georgia had total deposits of $5.0 billion as of 2018, an increase from $4.28 billion as of 2017, according to S&P Global Market Intelligence data. This makes the company the ninth-largest bank by deposits in Georgia, the Atlanta Business Chronicle said, citing Federal Deposit Insurance Corp. data.

S&P Global Market Intelligence data also shows that the company had 82 branches in Georgia as of 2018.