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Chase, JPMorgan's bank, plans to have 7 SC branches open this year

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Chase bank

Chase's first coastal South Carolina branch  opens in Mount Pleasant on Tuesday. Provided/JPMorgan Chase & Co.  

MOUNT PLEASANT — JPMorgan's Chase banking division is set to make its Lowcountry debut Tuesday by unveiling the first of six more branches it's planning to bring to South Carolina by the end of the year. 

The newly built office, near U.S. Highway 17 and Houston Northcutt Boulevard in Mount Pleasant, opens at 9 a.m., according to an announcement Monday. It includes several automated teller machines, two walk-up windows and a lounge-like waiting area. Saturday hours are 9 a.m.-1 p.m.

Chase hopes to be taking deposits and making loans at seven offices over the next two months, including a branch it opened last year near Clemson University.

Two more locations are expected to open in the Charleston area by Dec. 31 — at Mount Pleasant Towne Centre and near Azalea Square in Summerville. Others are planned for Greenville and Rock Hill, according to filings with federal regulators.

The New York-based financial behemoth set up its first brick-and-mortar location in Charleston about two years ago to serve commercial customers. JPMorgan estimated it works with more than 22,000 businesses statewide.

The company said the investment in the consumer side of its business is part of a $20 billion, five-year plan to establish footholds in high-growth markets where it historically had no retail presence, including Charlotte, Raleigh-Durham and Nashville, Tenn.

As of this week, Chase has filed requests with regulators to open at least 12 branches in the Palmetto State. They include planned locations near Whole Foods Market in West Ashley and on Daniel Island. 

JPMorgan Chase & Co. said it's still recruiting workers to support its expansion plan, with pay for entry-level workers starting at more than $17.

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Contact John McDermott at 843-937-5572 or follow him on Twitter at @byjohnmcdermott

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