But at the nation’s biggest bank, old-fashioned bricks-and-mortar locations are part of the secret sauce. It is the first bank with branches in all 48 contiguous U.S. states. In 2021, it surpassed Bank of America as the biggest total deposit holder, according to Federal Deposit Insurance Corp. data. Its top consumer rival, Bank of America, has been counting on branches for its own market expansion and renovating others to defend its turf. It will rebrand many of the branches it acquired with the failed First Republic Bank as J.P. Morgan branches, not Chase.

Source: Wall Street Journal February 06, 2024 12:36 UTC