JPMorgan Chase expects to open a branch office at 1600 Central Ave. in St. Petersburg by the end of the year.
It’s one of 35 branches the bank is adding in Florida over the next three years. The new facilities will create up to 200 jobs in the state, the bank said.
Florida is one of the bank’s fastest-growing regions, said Mel Martinez, chairman of the Southeast U.S. and Latin America for JPMorgan Chase.
The new branches will offer a full range of consumer and business services, as well as the latest technology, the bank said. Chase plans to hire locally and staff the branches with personal bankers, financial advisors, mortgage and business banking specialists.
The new St. Petersburg branch site is on the southwest corner of 16th Street and Central Avenue. Chase bought the property in October 2017 for $375,000, according to Pinellas County Property Appraiser records.
Chase had 56 offices, nearly $3.4 billion in deposits and a 3.97 percent deposit market share in the Tampa-St. Petersburg-Clearwater metro area as of June 30, according to the most recent report available from the Federal Deposit Insurance Corp.
The bank has nearly doubled its footprint locally and statewide since it entered the Florida market with the acquisition of Washington Mutual 10 years ago. Chase now has more than 400 branches and 1,600 ATMs in Florida, and employs nearly 14,000 people in the state across all its lines of business.
In addition to branch offices, JPMorgan Chase has built its private banking, commercial banking, investment banking and business banking teams in Florida, and its corporate responsibility programs have contributed more than $12.8 million to non-profit organizations statewide, the bank said.