Chase Bank details plan to add branches, jobs in Charlotte, part of big US expansion

Chase Bank is planning to further compete with banking giants in Charlotte by adding more than 15 branches by the end of 2026 and hiring hundreds of people.

The New York-based financial institution announced a multibillion-sdollar expansion plan on Tuesday, which includes opening more than 500 branches, renovating 1,700 locations and hiring 3,500 people by 2027.

There are currently 19 locations in the Charlotte region. Justin Brovitz, regional director for the Carolinas, said Chase’s real estate team is searching for sites.

“We’re looking at all sorts of different neighborhoods and towns,” he said. “What’s really important to us is finding where our clients live, work, shop, and where our small businesses are, to ensure that we’re there in the community.”

Why expand banking in Charlotte?

Charlotte is an important market for Chase because of its growth and clients that had existing relationships with the bank before moving to the area, Brovitz said. The bank entered the local market a few years ago.

“We’ve had clients that have lived here and had banking products and services before we ever opened a branch,” Brovitz said. “When I think about Chase, I really think about becoming the bank for all in the community of Charlotte and servicing all different communities.”

Bank of America, Truist, and Wells Fargo dominate the local market. Bank of America and Truist are based in Charlotte, and the city is the largest employment hub for San Francisco-based Wells Fargo. Chase wants to fit in with them.

“We know our customers have options (like the big three) and others on top of that, but we are very confident that we have the best products and services,” Brovitz said about banking digitally or visiting a local branch to build relationships with employees.

In 2023, Chase announced that 100 branches will open across the Carolinas by the end of 2025, with four more opening by the end of this year in Charlotte.

The bank said it wants to enter several new markets, which includes low-to-moderate income communities and rural areas. Along with Charlotte, Chase is expanding in Boston, the Washington, D.C area, Minneapolis and Philadelphia.

How many jobs will Chase add?

When a branch opens, about seven to 10 people are employed at each location, Brovitz said. This may add between 105 and 150 local jobs based on the 15 branches being built.

The hourly pay range will be about $20 to $25 for starting employees, with benefits.

More abut Chase Bank

Chase has the largest branch network in the United States and is the only bank with branches in all of the lower 48 states, the company said. The bank has added more than 650 branches, including 400 in 25 states, in the past five years. After the expansion, Chase will have added more than 1,100 branches and 10,500 employees since 2018.

More than 1,000 people are employed across North and South Carolina by Chase.

Chase, owned by JPMorgan Chase, serves close to 80 million customers and 6 million small businesses. It has assets of $3.9 trillion.

Some of the services include banking, credit cards, auto financing and small business loans. Chase operates more than 4,700 branches and over 15,000 ATMs.