Chase Bank is opening new branches all across Georgia and plans on hiring new tellers in Atlanta, among many other positions.

Chase is the retail and commercial banking arm of JP Morgan Chase. The bank plans on opening ten new bank branches across the Atlanta area within the year. The average cost of opening a bank is about $2.5 million.

Total, Chase plans on opening about 35 branches through 2012, which equates to approximately 300-400 new jobs.

Chase has 900 employees and 57 branches in the metro area. According to the latest FDIC data, Chase had $717 million in deposits, or about 0.6 percent of the market.

Chase acquired Washington Mutual after Wall Street collapsed in 2008, thereby signaling their entry into the Atlanta market. Prior to the acquisition, JP Morgan chase was more known for mortgage and credit cards in this particular area.

More banking centers and ATMs will crop up due to the expansion. Which means more jobs, including tellers, account reps, and wealth management specialists, and corporate banking specialists.

Atlanta has been cited as one of the most competitive banking markets in the country.
Other banks have failed in Atlanta, but Chase has said they have no interest in taking over more banks in the market.

This entry was posted on Monday, August 2nd, 2010 at 3:30 pm and is filed under Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.