Another Chase Bank branch is identified for Jacksonville that plays out JPMorgan Chase & Co. Chairman and CEO Jamie Dimon’s Jan. 31 statements that the bank plans to add 10 more branches in the metropolitan area.
He told news reporters that Jacksonville, with 20 offices, is an expanding market.
Landlord Sleiman Enterprises shows on its Atlantic North site plan that Chase will build on Outparcel D at 11937 Atlantic Blvd. The shopping center is at northwest Kernan and Atlantic boulevards.
Chase intends to build a 3,450-square-foot bank with one drive-thru ATM lane on 1.42 acres. It will lease the land from Sleiman Enterprises.
City utility JEA is reviewing a July 24 service availability determination request for the project, including associated site work includes parking, landscaping, stormwater infrastructure and lighting.
Dynamic Engineering Consultants PC of New Jersey is the civil engineer. It has Florida offices in Delray Beach and Dunedin.
Chase Bank also is working on a 3,430-square-foot space in College Park, the former Town & Country Shopping Center, at northeast University Boulevard and the Arlington Expressway in Arlington near Downtown.
The city issued a permit July 16 for iConstructors LLC of Jacksonville to renovate the space for Chase at a project cost of $1 million.
Chase will lease space at 917 University Blvd. N., in the middle of the strip of storefronts comprising College Park.
A little more than a decade ago, New York City-based JPMorgan Chase & Co. was a big employer in Jacksonville after taking over the mortgage operations center formerly run by Washington Mutual Bank.
The company, which operates branches under the Chase Bank brand, didn’t have a consumer banking operation.
Dimon said he saw that as an opportunity.
“I wanted a test to go to a new market and build a profitable bank,” Dimon said during a visit to the company’s Downtown Jacksonville Chase branch at 112 W. Adams St.
“Jacksonville is actually the first new market we ever put a branch in,” he said.
After starting to build a branch network for its Chase business in 2013, the company now has 20 offices in the Jacksonville market.
Dimon said he is patient about results from new markets.
He said Jan. 31 the next expansion will include offices in low-to-moderate income neighborhoods in Jacksonville and St. Augustine.
Dimon said banks have an obligation under the federal Community Reinvestment Act to serve all parts of the community but he said JPMorgan would provide those services anyway.
One issue JPMorgan seeks to address is affordable housing, and helping customers qualify for a home loan.
“We go the extra mile to make the mortgage, or get them the proper mortgage,” he said.
JPMorgan employs about 1,700 people in Jacksonville and said it will hire 100 more for the new branches and other needs.
Besides growing the branch network in the Jacksonville area, Dimon said JPMorgan may also add back-office operations in addition to its large mortgage center.