Over the last 10 years, Bank of America has been expanding its financial center network, opening locations nationwide in new and existing markets. The bank is on track to open more than 165 new centers across 63 markets by the end of 2026, including nearly 40 this year. This is in addition to the more than 100 centers the company opened over the last two years.
“We are reaching more and more clients through the expansion and modernization of our financial centers,” said Aron Levine, President of Preferred Banking at Bank of America. “While most clients are using our digital capabilities for their everyday banking, they are visiting our centers for in-person conversations about their more complex financial needs and advice on their life priorities and financial goals.”
Open in Louisville
Bank of America is continuing to expand its retail banking presence in Kentucky, with the opening of its first Louisville-area financial center today and a second center set to open on Oct. 7. In total, the company plans to open five financial centers in the Louisville market by the end of 2025.
The bank’s first financial center in Kentucky opened in Lexington in 2021. This latest expansion will bring its total number of financial centers in the state to 10 by the end of 2027. Bank of America currently serves nearly 95,000 consumer and small business clients throughout Kentucky through existing centers, along with clients of its well-established Merrill Wealth Management business, and corporate and business banking clients.
“We are thrilled to be expanding our presence in the Bluegrass state by opening our first financial centers in Louisville,” said Felicia Lewis, Division Executive, Southeast at Bank of America. “By expanding our capabilities in this market, we are able to better serve clients, and further drive local community growth and development.”
Ongoing Expansion and Investment
Bank of America’s financial center expansion began in 2014, and over the last 10 years, the company has invested more than $5 billion in its centers. Later this year, the bank will celebrate the 10-year anniversary of its first financial center opening in Colorado – where it now has 32 centers– and the five-year anniversary of its first center in Ohio, where it now has 54 centers.
Earlier this year, the bank completed renovating and modernizing its financial centers across the country. Through this effort, more than 3,000 existing centers were renovated with a focus on creating offices and meeting spaces for clients to talk with financial specialists; making state-of-the-art technology easier to access at the front of the centers; and ensuring clients have a consistent, modern experience inside every center.
As part of these renovation efforts and a partnership with ArtLifting, over 1,500 financial centers now feature artwork by artists living with disabilities or impacted by housing insecurity.
Following Bank of America’s entry into Louisville this year, the company also plans to open its first financial centers in Boise, Idaho, in early 2025.
Financial Centers Align to Client Behavior
With more than 95% of client interactions taking place on the bank’s digital platform, Bank of America has adapted its financial centers to focus on meeting spaces where clients can have in-depth conversations about their finances.
In the past year, clients have made nearly 10 million appointments with financial specialists in financial centers. Nearly 20% of these appointments have been meetings between clients and Financial Solutions Advisors to discuss investing. This has helped drive assets in the Bank of America Consumer Investments business to record levels.
Through its financial center and ATM networks, Bank of America provides banking access to 246 million people across more than 200 markets, or more than 75% of the U.S. population. Approximately 30% of the bank’s financial centers are in low- and moderate-income communities.
