Continuing its decade-long expansion, company
opens first financial center in Louisville, Kentucky – with plans for five
there over the next year
Since 2014, BofA has invested over
$5 billion in financial center
expansion
CHARLOTTE, N.C. ,
Sept. 23,
2024 /PRNewswire/ -- Over the last 10 years, Bank of
America has been expanding its financial center network, opening
locations nationwide in new and existing markets. The bank is on
track to open more than 165 new centers across 63 markets by the
end of 2026, including nearly 40 this year. This is in addition to
the more than 100 centers the company opened over the last two
years.
"We are reaching more and more clients through the expansion
and modernization of our financial centers," said
Aron Levine, President of
Preferred Banking at Bank of America. "While most clients are
using our digital capabilities for their everyday banking, they are
visiting our centers for in-person conversations about their more
complex financial needs and advice on their life priorities and
financial goals."
Open in Louisville
Bank of America is continuing to expand its retail banking
presence in Kentucky, with the
opening of its first Louisville-area financial center today and a
second center set to open on Oct. 7. In total, the company
plans to open five financial centers in the Louisville market by the end of 2025.
The bank's first financial center in Kentucky opened in Lexington in 2021. This latest expansion will
bring its total number of financial centers in the state to 10 by
the end of 2027. Bank of America currently serves nearly 95,000
consumer and small business clients throughout Kentucky through existing centers, along with
clients of its well-established Merrill Wealth Management business,
and corporate and business banking clients.
"We are thrilled to be expanding our presence in the
Bluegrass state by opening our first financial centers in
Louisville," said
Felicia Lewis, Division
Executive, Southeast at Bank of America. "By expanding our
capabilities in this market, we are able to better serve clients,
and further drive local community growth and development."
Ongoing Expansion and Investment
Bank of America's financial center expansion began in 2014, and
over the last 10 years, the company has invested more than
$5 billion in its centers. Later this
year, the bank will celebrate the 10-year anniversary of its first
financial center opening in Colorado – where it now has 32 centers– and
the five-year anniversary of its first center in Ohio, where it now has 54 centers.
Earlier this year, the bank completed renovating and modernizing
its financial centers across the country. Through this effort, more
than 3,000 existing centers were renovated with a focus on creating
offices and meeting spaces for clients to talk with financial
specialists; making state-of-the-art technology easier to access at
the front of the centers; and ensuring clients have a consistent,
modern experience inside every center.
As part of these renovation efforts and a partnership with
ArtLifting, over 1,500 financial centers now feature artwork by
artists living with disabilities or impacted by housing
insecurity.
Following Bank of America's entry into Louisville this year, the company also plans
to open its first financial centers in Boise, Idaho, in early 2025.
Financial Centers Align to Client Behavior
With more than 95% of client interactions taking place on the
bank's digital platform, Bank of America has adapted its financial
centers to focus on meeting spaces where clients can have in-depth
conversations about their finances.
In the past year, clients have made nearly 10 million
appointments with financial specialists in financial centers.
Nearly 20% of these appointments have been meetings between clients
and Financial Solutions Advisors to discuss investing. This has
helped drive assets in the Bank of America Consumer Investments
business to record levels.
Through its financial center and ATM networks, Bank of America
provides banking access to 246 million people across more than 200
markets, or more than 75% of the U.S. population. Approximately 30%
of the bank's financial centers are in low- and moderate-income
communities.
Bank of America
Bank of America is one of the world's
leading financial institutions, serving individual consumers, small
and middle-market businesses and large corporations with a full
range of banking, investing, asset management and other financial
and risk management products and services. The company provides
unmatched convenience in the United
States, serving approximately 69 million consumer and small
business clients with approximately 3,800 retail financial centers,
approximately 15,000 ATMs (automated teller machines) and
award-winning digital banking with approximately 58 million
verified digital users. Bank of America is a global leader in
wealth management, corporate and investment banking and trading
across a broad range of asset classes, serving corporations,
governments, institutions and individuals around the world. Bank of
America offers industry-leading support to approximately 4 million
small business households through a suite of innovative,
easy-to-use online products and services. The company serves
clients through operations across the
United States, its territories and more than 35 countries.
Bank of America Corporation stock is listed on the New York Stock
Exchange (NYSE: BAC).
For more Bank of America news, including dividend announcements
and other important information, visit the Bank of America newsroom
and register for news email alerts.
Reporters May Contact:
Andy Aldridge, Bank of America
Phone: 1.980.387.0514
andrew.aldridge@bofa.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/bofa-to-open-more-than-165-financial-centers-by-end-of-2026-302255073.html
SOURCE Bank of America Corporation