JPMorgan Chase opens two new R.I. branches

PROVIDENCE – JPMorgan Chase & Co. continues to expand its physical footprint in Rhode Island, with two additional branches in Cranston and Smithfield slated to open Tuesday, according to a news release.

The openings mark the fourth and fifth state branches of the national bank, with plans to continue expanding to a total of 13 branches statewide in the coming years, creating 100 jobs for local residents. Existing branches are located in downtown Providence, on the city’s East Side and in South Kingstown.

The expansion comes as many other regional and national banks have announced plans to slash branches across the region, citing the increasing reliance on digital and mobile banking over in-person services.

Roxann Cooke, the bank’s regional director for consumer banking in New England, said the commitment to expanding physical locations is intended to support both customer preferences and the communities in which the branches are located. Despite the shift to digital, Chase research shows that three-quarters of deposits come from customers who use branch services at least part of the time, Cooke said. Building of physical branches also creates construction jobs in the community, she said.

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Each branch will have eight to 10 employees, a majority of whom are local hires.

All branches are designed with consultation and casual meeting spaces, as well as self-service transaction areas with a “digital access bar,” free internet and smart ATMs.

Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.

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