The new centre will support the bank’s clients in offering advice on all of their financial needs
A Bank of America Banking Center at Porter Ranch Town Center, a shopping center in Porter Ranch. (Credit: Coolcaesar/Wikipedia)
Bank of America has opened its first full-service financial centre in Cincinnati, Ohio and will open another financial centre in Columbus in the coming weeks.
The new financial centres showcase the newest technology including advanced ATMs, private offices to assist clients one-on-one, on-site specialists including Merrill financial solutions advisors.
Bank of America Ohio market president Jeneen Marziani said: “The new financial centers in Cincinnati and Columbus further tie our success with Ohio’s success. By bringing even more financial services to Ohio – including new Private Bank offices – we’re able to deliver the full breadth of our capabilities to help our clients improve their financial lives.”
Bank of America plans to open nearly 30 new centres in Cincinnati and Columbus, Ohio
Over the next two years, the bank plans to open nearly 30 centres in the two cities and will also expand its presence into the Cleveland area in 2020. It has already opened 65 ATMs in Cincinnati and Columbus over the past year and has nearly 100 ATMs in the state of Ohio.
Bank of America’s first financial centre in Cincinnati is located in Loveland at 12191 Montgomery Road/US 22. It will be one of the 15 centres to be opened in the area over the next two years. Presently, the bank has 34 ATMs in the market.
The first financial centre in Columbus will be located in Morse Plaza at 1650 Morse Road. It is one of the 14 total centres planned for the area in the next two years and one of the 650 locations in the US to have been designated as a community financial centre.
The centres will support clients in low- and moderate-income (LMI) communities by offering customised products, services and information to address their unique needs and help to build financial resilience.
Bank of America also stated that at least 150 new jobs will be created in Ohio as part of the expansion.
For a long time, the bank has been serving the Ohio community, by offering commercial and business banking along with wealth management services through Merrill, to more than 775,000 relationships across the state.
By entering into retail banking in the state, the bank is expanding its presence with its financial centres and ATM network.
Bank of America CEO Brian Moynihan said: “Expanding our nationwide financial center presence to Ohio helps us better serve all the needs of our clients here and deliver on our commitment to responsible growth.”
The bank aims to open 350 new financial centres in the next five years
The move is part of the bank’s recently announced plans to modernise 1,500 financial centres, add more than 2,700 enhanced ATMs and open 350 new financial centres in both new and existing markets in the next five years, across Salt Lake City, Pittsburgh, Denver, Minneapolis, Indianapolis, Ohio and Lexington, Kentucky.
Last year, the bank had invested $468m (£375.7m) in home and small business loans and expects the number to grow with its network expansion.