The largest bank in America is opening its first Wichita branch later this year.
And that's just the start of its Wichita ambitions.
Chase Bank, the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), confirmed to the WBJ that its first Wichita location will be at 2210 N. Rock Road, at the northeast corner of 21st and Rock.
It's targeting a July debut.
The bank then plans to open a second area branch before the end of the year — this one in Derby at 2101 N. Rock Road — followed by the launch of two to three more locations in the next two years.
Kiley Sidman, Chase market director for consumer and community banking, said that Chase anticipates continued growth from there and is aiming high when it comes to Wichita market share.
"Our goal is to be No. 1," said Sidman, who is leading the bank's local expansion, in an interview.
Sidman says Chase Bank will offer its entire range of consumer and commercial banking services — including mortgages, auto financing, small business loans and beyond — to the area.
"We are bringing the full force of JPMorgan Chase," she said.
Chase Bank is leasing 3,300 square feet at its northeast Wichita location and 2,500 square feet in Derby. The bank did not provide further details on those real-estate deals.
Chase has more than $3.38 trillion in assets.
As banks across the country evaluate the need for branch locations, Sidman says she's seen clear value.
"People ask me all the time: 'Why brick and mortars? Why are we building branches? Everything is digital,'" she said. "The answer is: because when life happens — which is all the time — we need a person to sit across from, we need a person to pick up the phone, so we can call them and say, 'What do I do next?'"
Chase Bank
Wichita residents and businesses don't have to look far to find Chase's regional track record of planting its first branch in a market — and then rapidly expanding.
In 2018, JPMorgan Chase CEO Jamie Dimon said the bank would bring “hundreds of new branches” to new markets, including its first locations in Kansas City. Since its Kansas City branch debut in 2020, it's reached 15 area branches and opened additional Kansas locations in Manhattan and Ottawa.
The financial giant is entering a market with plenty of established banks — from longtime, locally-owned institutions to regional and national players who have been in Wichita for some time.
That includes legacy family-run banks, such as Intrust Bank, the current owner of the Wichita market share crown, Fidelity Bank and Emprise Bank.
For years, Bank of America, the second largest bank in the country with $2.45 trillion in assets, has held a prominent presence in the city, as well.
Market share percentage
| Rank | Prior Rank | Name / prior (* not ranked) / URL |
|---|---|---|
1 | 1 | Intrust Bank |
2 | 2 | Bank of America NA |
3 | 3 | Fidelity Bank |
Sidman said Wichita's higher-education institutions, its strong military presence and economic development momentum made it an attractive market for Chase.
"Wichita has always been out there as one of the cities we want to serve," she said, "and over the last year, it came to fruition, and we started building a team there."
She added Chase Bank is helped by multiple factors when building relationships in a new market.
That includes the familiarity of the JPMorgan Chase name and many having already interacted with Chase Bank through its credit card division, she said.
"The reputation overall of the bank, and really all lines of business for JPMorgan Chase, is something that perks folks' ears," Sidman said.
Sidman is based out of Kansas City and oversees the west side of that market, and the Manhattan branch, in addition to Wichita. She said she's been in Wichita weekly of late and that will continue as Chase establishes its footprint here.
She has previous experience with the Wichita market from her time as a regional bank district manager at Wells Fargo from 2015 to 2019.
For now, Sidman says she is focused on building the Wichita team.
Chase has already tabbed the branch manager for its northeast Wichita location: Leah Heathcote-Osburn, who joins the bank after working as a local dual branch manager for UMB Bank.
Chase Bank says it's aiming to have 40-50 Wichita-area employees in the next 2-3 years.
"We like to hire locally," Sidman said. "We want (people) who are familiar and passionate about the things that are most important in Wichita, so that we can support the community and its growth and connect with our clients."
Sidman also noted the bank already has a commercial banking presence in the market and will be building out its wealth management side in the city.
While Chase Bank has big goals for Wichita, Sidman acknowledged it won't be an overnight process to achieve them. But she pointed to Kansas City as an example of what can happen.
"It's going to take us time," she said. "It always does to connect... and welcome folks in. It does take a little bit of time, but we've consistently grown market share in Kansas City year over year."
