J.P. Morgan Chase & Co. plans to shut three of its Indianapolis branches this fall.
No workers will lose their jobs because of the closures, Chase spokeswoman Carlene Lule advised IBJ on Friday.
The bank will shut its department at 20 W. 16th St. on Oct. 29, its department at 6891 N. Michigan Highway on Nov. 9, and its department at 8910 E. 21st St. on Nov. 12.
Lule didn’t specify the rationale for every closure however stated in an e-mail that low buyer site visitors or the presence of different close by department places of work can result in a location’s closure. Lule additionally cited the rising adoption of cell and on-line banking, which permits prospects to deal with banking transactions with out visiting a department.
Chase is the most important bank within the Indianapolis market, measured by deposits, and the bank will nonetheless have a large native presence after the closures.
The closures will depart Indianapolis with 34 Chase bank branches and one other 4 ATM-only areas. The bank additionally has 27 department places of work scattered all through the encompassing suburbs.
Nationwide, Chase has been closing extra branches than it opens—although it’s nonetheless opening new branches.
In response to the Federal Reserve Bank of St. Louis, Chase has opened 77 branches across the U.S. up to now this 12 months, closing one other 109. In 2019,f the bank opened 161 branches and closed one other 227.