Branch Transformation
Bank of America to expand branch footprint in 9 markets
June 28, 2023
Bank of America will expand its branch network into nine markets over the next four years. In addition, the bank plans to open 58 branches across 34 markets this year, according to a press release.
The nine markets include:
- Omaha, Nebraska.
- Louisville, Kentucky.
- Boise, Idaho.
- Birmingham, Alabama.
- Madison, Wisconsin.
- New Orleans, Louisiana.
- Milwaukee, Wisconsin.
- Dayton, Ohio.
- Huntsville, Alabama.
"As part of our high tech and high touch approach, we continue to invest in digital capabilities, and to modernize our financial centers to reach more clients and meet their evolving needs," Brian Moynihan, CEO of Bank of America, said in the release. "By expanding our capabilities in these markets, we are able to better serve clients, and help drive local community growth and development."
The bank is also renovating all of its financial centers in the U.S. to include more offices and meeting spaces alongside technology to help customers. For the new markets, Bank of America will work with ArtLifting to feature artwork from disabled artists or those impacted by housing insecurity.
"Our financial center strategy is designed to serve our clients when, where and how they choose to manage their financial lives," Aron Levine, president of Preferred Banking at Bank of America, said in the release. "Although more clients are using our digital banking capabilities, many still visit our centers for in-person conversations about some of their more complex financial needs. Our redesigned centers make it easy for them to meet with professionals for tailored solutions and advice on their life priorities and financial goals."
Bank of America operates approximately 3,900 branches in the U.S., of which 44% are majority minority communities.
