In a recent analysis of banks by number of branches in Jefferson County, JPMorgan Chase Bank, National Association emerged as the leader with the highest number of branches in the area. According to data compiled from the Banks by Deposits at Jefferson County Branches list, Chase operates a total of 18 branches in Jeffco, making it the top banking institution in terms of branch presence.
FirstBank closely followed Chase with 16 branches, while Wells Fargo Bank, National Association secured the third position with 14 branches spread across Jefferson County. Wells Fargo also leads the statewide count with 135 branches in Colorado.
U.S. Bank National Association and BMO Bank National Association held significant branch numbers as well, with 13 and 11 branches respectively. BMO’s presence on the list surged after its acquisition of Bank of the West in 2023.
Collectively, the 25 banks on the list operate 996 branches across Colorado, with 13% of those branches located in Jefferson County.
The analysis also shed light on broader banking trends across the country in which the number of branch offices per bank, while seeing some decline, has maintained relative stability. The Federal Deposit Insurance Corp. reported a 1.7% decline in bank offices nationwide between June 2022 and June 2023, slightly above the pre-pandemic average decline of 1.4%. Only 10.4% of banks reported net office closures in 2023, while 6.3% reported net office openings, and the majority, 83.1%, reported no net change in office count.
These findings underscore the evolving landscape of banking, where strategic acquisitions and the retention of branch locations play pivotal roles in maintaining market share and customer loyalty.