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Chase To Add 90 Bank Branches in California in 2010


Investment to add more than 1,200 jobs, expand network to more than 800 branches

Los Angeles - Chase announced today that it will continue its investment in California by opening about 90 new branches and adding more than 1,200 new jobs to better serve California bank customers in 2010.

The new branches will extend Chase’s network to more than 800 bank branches and almost 3,000 ATMs across California.

Chase will open more than 35 new branches in Northern California and almost 50 new branches in Southern California. This breaks out to more than 10 branches in Sacramento, San Francisco, Los Angeles and San Diego counties while adding a significant number in Orange, Kern, Ventura, Riverside and San Bernardino counties.

“California is an important and growing market for Chase and we will continually invest in the people, facilities and technology needed to serve California consumers and businesses well,” said Pablo Sanchez, who manages Chase’s branch network in the Western U.S. “This will create many jobs, including construction workers to build the branches, vendors to provide services to Chase and, most importantly, branch employees to help our customers with their financial needs.”

Chase provides branch banking services, online and mobile banking, investments, credit cards, and mortgages and other loans to 14.5 million consumers and small businesses in the state.

“Our 10,000 branch employees in California - including personal and business bankers, mortgage officers and investment specialists - help families manage their money and work to help them realize their financial goals,” Sanchez said.

Chase already has begun opening 13 new full-service bank branches in Stater Bros. Supermarkets in San Bernardino, Riverside and San Diego counties.

In the last 16 months, Chase has opened 16 Homeownership Centers across California to provide face-to-face loan counseling to families struggling with mortgage payments. The centers already have worked with more 33,000 families.

The company employs almost 17,000 people in the state and plans to invest $10 million through grants to California non-profits in 2010.

Last year, parent company JPMorgan Chase raised $24.4 billion in financing for local governments and non-profit organizations in California, and lent the state $1.5 billion during its cash flow challenges.

About Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information is available at


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