JPMorgan Chase is pulling the plug on 21 branches acquired during its takeover of failed regional bank First Republic.
In a statement on Thursday, JPMorgan said a quarter of First Republic’s 84 branches will shut by the end of the year.
“These locations have relatively low transaction volumes and are generally within a short drive from another First Republic office,” JPMorgan said in the statement. “Clients should expect to continue to receive the same level of service with seamless access to their money.”
Read More : First Republic to Lose a Quarter of Branches as JPMorgan Announces Closures