Charlotte, North Carolina-based
Bank of America plans to expand its financial center network into four new states over the next few years, including Wisconsin, with plans to add locations in the Milwaukee and Madison areas.
Bank of America says it plans to open five financial centers in the Milwaukee area and three in the Madison area in 2025. Specific locations were not identified.
In addition to Wisconsin, Bank of America plans to expand its branch network into Nebraska, Louisiana and Alabama by the end of 2026. It is also planning to add locations in Boise, Idaho; Dayton, Ohio; and Louisville, Kentucky.
Through that expansion, Bank of America says it will have financial centers in more than 200 markets across 39 states. It opened 58 new centers in 2022 and plans to open more than 55 new locations in 2023 across 34 markets. Bank of America currently operates approximately 3,900 financial centers across the country.
"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," said Bank of America CEO Brian Moynihan in a news release. "By expanding our capabilities in these markets, we are able to better serve clients, and help drive local community growth and development."
"Our financial center strategy is designed to serve our clients when, where and how they choose to manage their financial lives," said Aron Levine, president of preferred banking at Bank of America. "Although more clients are using our digital banking capabilities, many still visit our centers for in-person conversations about some of their more complex financial needs. Our redesigned centers make it easy for them to meet with professionals for tailored solutions and advice on their life priorities and financial goals."
By the end of this year, Bank of America says it will complete a three-year project to renovate and modernize its financial centers across the country.
As part of the ongoing optimization of its financial center network, this year the bank is also expanding the number of community banking centers it operates to 700 from 600.
