Chase continues its expansion into the DC Metro area, and Montgomery County specifically, with a new branch coming soon to Derwood’s Red Mill Shops. The new branch will be taking over the space previously occupied by Verizon at 7250 Muncaster Mill Rd. Verizon moved about 100 feet away next to the main strip of the shopping center. Chase is also building new branches in Rockville, at the former Meixin supermarket space, and in Gaithersburg at the former Boston Market location.
In 2022, JPMorgan Chase cut the ribbon to its newly renovated regional headquarters, the Bowen Building at 875 15th St. NW at the corner of McPherson Square in Washington D.C. This acquisition “reinforced the firm’s commitment to Washington D.C. and the Greater Washington region” as it is one of the only banks expanding its physical footprint in our area. “This region – stretching from Richmond to Baltimore – is one of the largest economies in the country,” said Peter Scher, JPMorgan Chase Vice Chairman and Chair of the Mid-Atlantic. “With the opening of our Mid-Atlantic headquarters, and our continued philanthropic and business commitments, JPMorgan Chase is supporting the future of Greater Washington. Our hope is to provide more economic opportunity for all people no matter the neighborhoods where they live and work.”
Chase is doubling its original branch network commitment made in 2018 to 140 branches by 2025 throughout Washington D.C., Maryland and Virginia, with 30% of branches in low- to moderate-income communities such as Wards 7 and 8 in Washington, D.C., Cherry Hill, West Baltimore, and Prince George’s County in Maryland, and the Ghent neighborhood in Hampton Roads, Virginia.