WASHINGTON–At the same time it has joined with many other banks in shuttering branches, Bank of America said it plans to open 150 new branches by the end of 2027.

BofA said it will open 40 new branches this year, with an additional 70 sites planned for 2026, it said.

In announcing its branch plans, BofA said that while more than 90% of its customer interactions take place through digital platforms, its branches can provide “more personalized financial advice.”

Bank of America currently has approximately 3,700 branches, which may actually come down a little by 2027 as it consolidates branches in more mature markets, according to Holly O’Neill, president of consumer, retail and preferred banking at BofA.

‘Always Evaluating’

“We are always evaluating new markets and where we want to go. We also find that the business that we grow digitally is accelerated in markets where we have a physical footprint,” O’Neill told U.S. News.

Bank of America reported it  has invested more than $5 billion in its financial center network over the past nine years. 

The BofA move comes a year after JPMorgan Chase said it would add more than 500 new sites by 2027.