- By Kaitlin Schroeder Staff Writer
Bank of America is planning to expand in Ohio.
The North Carolina-based bank announced this week that it will open 500 new branches over the next four years, including bringing retail banking services into the Cincinnati, Cleveland and Columbus markets.
Bank of America already has other services in Ohio like commercial banking and wealth management, but this will mean the bank will also have branches in the state focused on individual customers for services like mortgages and savings accounts.
Bloomberg reported even with the new branches, Bank of America’s overall branch network could decline because it is weighing whether to close branches. Customers using the bank’s technology services have helped reduce the need for so many branches, the news outlet reported.