Banking is changing, but some banks are still betting big on physical branches. Bank of America has announced plans to open 150 new locations by 2027, continuing its major expansion to serve more customers across the United States.
The expansion is part of a massive $5 billion investment into growing the bank’s reach and providing better in-person services. The new branches are being added in different regions to help people access banking services easily.
First New Branch Opens This June
The first new location will open on June 9, 2025, near Boise, Idaho, marking the beginning of this new phase. More locations will follow soon after across the country, although exact cities have not been revealed yet.
The bank said that by the end of 2025, a total of 40 new financial centers will be up and running. Another 70 branches are set to open in 2026, with the remaining 40 locations expected in 2027.
In total, these new branches will cover 60 different markets, meaning that many new areas, possibly including smaller towns and underserved regions, will see a Bank of America branch for the first time.
A Customer-First Approach
Holly O’Neill, President of Consumer, Retail, and Preferred Banking at Bank of America, said the bank is committed to meeting customers “where they are.”
She explained that the new financial centers will not just be regular branches. Instead, they’ll be designed to offer personal service, where financial experts can sit with customers and help them with their money goals, such as saving, investing, or buying a home.
This shows Bank of America is not giving up on in-person banking, even as many people are moving online for their daily transactions.
Competition Is Heating Up Among Big Banks
Bank of America is not the only one trying to expand. In fact, JPMorgan Chase has even bigger plans. In February 2024, Chase announced it would open 500 new branches by 2027.
Chase’s expansion will focus on both big cities and rural or low-income areas, where banking services are often hard to find. Cities like Boston, Charlotte, Washington D.C., Minneapolis, and Philadelphia are on their list for expansion.
Along with opening new branches, Chase will also renovate existing ones, upgrading their physical presence to provide a better customer experience.
Not All Banks Are Expanding
While some banks are growing, others are doing the opposite. TD Bank has decided to close 40 branches in 13 states, with closures scheduled for June 5, 2025. This move reflects how online banking is reducing the need for physical locations, especially in areas where fewer people visit in person.
Banks like Citi and Chase are also offering cash bonuses to attract new customers, even if they don’t expand their branch network. For example, Citi Bank is offering up to $325 for new customers who meet certain conditions, and Chase is offering a $3,000 sign-on bonus for select accounts—but it comes with a large deposit requirement.
As online banking grows, not all banks are building new branches—but Bank of America is clearly taking a different route. With 150 new locations planned by 2027, it’s aiming to bring face-to-face banking back into focus. Whether you’re in a busy city or a quiet town, this move could mean easier access to help with your finances. As the banking world shifts, it’s clear that big names like Bank of America and Chase are still betting on the power of personal connection.