Despite the dominance of digital banking, Bank of America is making a bold move to expand its physical presence across the U.S. The bank announced plans to open more than 150 new branches—referred to as financial centers—by the end of 2027.

This year alone, 40 new branches are set to open, with another 70 scheduled for 2026. While over 90% of client interactions currently take place through digital channels, the bank emphasizes the continued value of face-to-face engagement for delivering personalized financial advice and building lasting customer relationships.

“We find that business growth through digital platforms accelerates in markets where we also have a physical footprint,” said Holly O’Neill, President of Consumer, Retail and Preferred Banking at BofA. Although the total number of branches—currently about 3,700—may decrease slightly due to consolidation in mature markets, the expansion reflects a clear strategy to strengthen the bank’s national footprint.

In recent years, Bank of America has invested more than $5 billion into its branch network. In May, it opened a flagship branch in New York and has plans to launch four more in Boise this July.

This approach mirrors similar moves by competitors like JPMorgan Chase, which aims to add over 500 new branches by 2027.

Bank of America’s consumer banking division remains a major earnings driver, contributing 33.8% of its net income in the first quarter of 2025. As O’Neill put it, “Consumers still appear very sound. They’re continuing to spend. We’re seeing positive trends in payment and spending behavior.”