JPMorgan Chase &Co., the nation's largest bank, said Friday it plans to open its first full-service Winston-Salem branch in June and a second later this summer.
Chase already is assisting customers by appointment at 426 S. Stratford Road -- a former Bank of America Corp. branch site.
Meanwhile, Bank of America plans to open a branch at the former Arby's restaurant location during the fourth quarter.
The second Chase branch will be at 4625 Country Club Road on the former Southern Community Bank and Trust headquarters campus.
The bank did not have an update on its third planned branch at 102 Laura Ave. that's across the street from the Target-anchored retail campus off University Parkway.
Unlike the Stratford and Country Club branches, the Laura Avenue branch will be in a newly constructed building
Currently, Chase's two open branches in the Triad are at 435 Pisgah Church Road and 1610 New Garden Road, both in Greensboro.
"We expect to open a branch at 1501 Westover Terrace in the fourth quarter," spokeswoman Allison Reed said Friday.
"We are still working toward having seven branches open in the Triad by the end of 2026," Reed said.
Toward that goal, the OCC posted Friday that Chase wants permission to open its first branch in Asheboro, as well as its first branch in Statesville.
The location of the proposed Asheboro branch is on the southeastern corner of East Dixie Drive/U.S. 64 and N.C. 42.
The location of the proposed Statesville branch is the northwest corner of North Pointe Boulevard and U.S. 21.
JPMorgan has the most total assets for a U.S. bank at $4.36 trillion as of March 31.
Chase debuted in North Carolina in 2018. It currently has 48 branches in the state, primarily in the Charlotte and Triangle areas with Charlotte at 14 and Raleigh at seven.
Overall, Chase has said it plans to open more than 500 new branches nationwide, as well as renovate about 1,700 locations and hire 3,500 employees over the next three years.
JPMorgan is the latest out-of-state bank to try to chip away at the dominant market shares of Bank of America, Truist and Wells Fargo with North Carolina consumers.
For most out-of-state entrants, their biggest challenge has been growing the North Carolina deposits market share beyond what they spent hundreds of millions, if not billions, of dollars to acquire.
Achieving modest-to-sizable increases in deposit holdings doesn't necessarily move the needle.
Just ask some other banks, including First Horizon, PNC Financial Services Group Inc., SunTrust Banks Inc. and Bank OZK.
rcraver@wsjournal.com
336-727-7376 @rcraverWSJ
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