Bank of America on track to open 40 new branches this year

By Steve Gelsi

Bank beefing up its presence in Kentucky and Idaho, among other states

Bank of America Corp. said Monday it continues to open new branches around the U.S. - including five in Louisville, Ky. - in the next 12 months.

All told, Bank of America (BAC) said it's planning to open 40 new financial centers - bank branches - as part of plans to add 165 centers in 63 markets by the end of 2026.

Other openings include its first branches in Boise, Idaho, in early 2025.

The 165 new financial centers are in addition to the 100 that Bank of America has opened in the last two years.

"We are reaching more and more clients through the expansion and modernization of our financial centers," Aron Levine, president of preferred banking, said in a statement.

While more customers are doing their banking online, bank branches are still being added and renovated for customers to meet in person with bankers.

Bank of America's stock was down 0.1% in premarket trading.

Also read: Bank branches are not going away even if consumers mostly use apps

-Steve Gelsi

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09-23-24 0903ET

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