The Bank Slate


BofA entering four new states with branch push

Bank of America in Charlotte, N.C., plans to enter four new states by opening branches across nine markets over the next four years.

The $3.1 trillion-asset company said in a press release that it will open locations in Nebraska, Kentucky, Alabama and Louisiana. Branches are planned in cities such as New Orleans; Birmingham, Ala.; Milwaukee; and Omaha, Neb.

At least 30 branches are planned.

“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’s the company’s chairman and CEO, 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,” he added.

BofA is also nearing the end of a three-year project to renovate and modernize more than 2,500 branches. The company opened 58 new branches last year, with plans to open 55 in 2023.

Leave a Reply

Your email address will not be published. Required fields are marked *