Bank of America Opens First Financial Centers in Wisconsin, Sets 2027 Entry into Alabama and Louisiana

Network investment has exceeded $5 billion since 2016, alongside plans for approximately 50 new financial centers annually.

Rhea-AI Summary

Bank of America (BAC) opened its first Wisconsin financial centers this month and plans to enter Alabama and Louisiana in 2027. The Madison and Milwaukee openings begin a planned 19-center Wisconsin expansion through 2030, creating approximately 130 job opportunities. Plans call for 10 centers in Alabama beginning in Q1 2027 and eight in Greater New Orleans beginning in the second half of 2027.

The bank plans approximately 50 new centers annually, including more than 30 across 22 existing markets in the coming months. It has invested more than $5 billion in its network since 2016. More than 400 renovation projects were completed in 2026, with more than 300 additional projects across 69 markets planned in the coming months. Its approximately 3,500 financial centers reach approximately 83% of the U.S. population.

Positive

• Minor point. Forward-looking: it has not happened yet and may not happen.Wisconsin expansion begins with Madison and Milwaukee openings; 19 centers planned through 2030.
• Minor point. Forward-looking: it has not happened yet and may not happen.Alabama expansion plans include 10 financial centers, beginning in Q1 2027.
• Minor point. Forward-looking: it has not happened yet and may not happen.Greater New Orleans expansion plans include eight centers, beginning in the second half of 2027.
• Minor point. Forward-looking: it has not happened yet and may not happen.Network expansion targets approximately 50 new centers annually across new and existing markets.
• Minor point. Forward-looking: it has not happened yet and may not happen.Existing-market expansion plans include more than 30 centers across 22 markets in the coming months.

4 minor points

• Minor pointNetwork renovations completed in 2026 exceeded 400 projects.
• Minor point. Forward-looking: it has not happened yet and may not happen.Further renovations planned in the coming months cover more than 300 projects across 69 markets.
• Minor point. Forward-looking: it has not happened yet and may not happen.Wisconsin openings create approximately 130 job opportunities.
• Minor point. Forward-looking: it has not happened yet and may not happen.Hiring commitment includes 700 financial center jobs in new growth markets and increased military and community college hiring.

Negative

• None.

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Expansion extends the bank's in-person reach to approximately 83% of Americans

New centers are part of the bank's $5 billion investment in its network since 2016

Key points

• First financial centers open in Madison and Milwaukee, with 19 planned across Wisconsin through 2030, creating nearly 130 new jobs.
• Alabama comes next, with 10 centers in Birmingham starting in Q1 2027. Greater New Orleans follows in the second half of 2027.
• The bank plans to open approximately 50 new centers a year and has invested more than $5 billion in its network since 2016.

CHARLOTTE, N.C., Oct. 28, 2026 /PRNewswire/ -- Bank of America continues to expand and modernize its financial center network, reflecting the important role in-person expertise plays when serving clients, alongside the growing use of digital banking. Wisconsin is the latest state added to the national network, with the company opening its first financial centers in Madison and Milwaukee this month. Bank of America plans to open 19 financial centers across the state through 2030. In Q1 2027, the bank will open centers in Birmingham, Alabama, and in Greater New Orleans later in the year.

"Our clients do more and more of their banking digitally, but when they're buying a home, starting a business or planning for retirement, they want to sit down with someone they trust," said Bank of America CEO Brian Moynihan. "That's why we keep building. Each new financial center in Wisconsin, Alabama and Louisiana is a commitment to the clients, employees and communities we serve there."

The company has opened approximately 200 new financial centers in 17 expansion markets since 2014 and plans to open approximately 50 centers per year across its full network. Since 2016, Bank of America has invested more than $5 billion to open new locations and enhance existing centers.

"A financial center is more than a place to bank. It's a place where clients can meet with a specialist, talk through their goals and get personalized guidance for what comes next," said Holly O'Neill, President, Consumer, Retail and Preferred at Bank of America. "As we modernize our centers, our use of innovative technology is central to how we build relationships and support clients through important financial decisions."

Continued investment in the financial center network
Opening financial centers in Wisconsin creates approximately 130 new job opportunities with the company, helping to grow the local economy and strengthen these communities. The new financial centers build on the bank's existing presence in the market, which includes Merrill, Business Banking and Global Corporate Banking.

"Expanding our presence in Wisconsin gives us an opportunity to deepen relationships with clients and communities across the state," said Drew Slocum, President of Bank of America Wisconsin. "With our new financial centers, we'll help more clients pursue their financial goals, connecting them with the breadth of resources, expertise and solutions available across Bank of America."

In addition to its recent entry into Wisconsin, the company plans to open 10 financial centers across Birmingham and Huntsville, Alabama beginning in early 2027 and eight in Greater New Orleans beginning in the second half of 2027.

Bank of America operates approximately 3,500 financial centers nationwide, with its physical footprint reaching approximately 83% of the U.S. population. The bank is also adding locations in existing markets, with plans to open more than 30 financial centers across 22 markets in the coming months. Approximately 30% of Bank of America's financial centers are located in low- and moderate-income communities.

Bank of America has also completed more than 400 financial center renovation projects this year, with more than 300 additional projects planned in the coming months.

In September 2025, Bank of America announced it raised its U.S. minimum hourly wage to $25 per hour for full-time and part-time employees, bringing the minimum annualized salary for full-time employees to more than $50,000. Bank of America also recently announced its commitment to increase military and community college hiring and create 700 financial center jobs in new growth markets across the country.

High-tech, high-touch strategy
While more than 95% of client interactions take place through Bank of America's digital platform, clients continue to turn to financial centers for more complex financial needs. Over the past year, clients made approximately 10 million appointments with specialists, nearly 20% of which were with Financial Solutions Advisors to discuss their financial needs.

Technology is also helping employees better support client conversations. "Plan My Day" is an AI-driven tool that helps bankers and advisors in financial centers prepare for client meetings using relevant client and industry information and trends. And in the company's contact centers, EricaAssist is a human-assisted generative AI agent used by more than 18,000 employees, helping them resolve client needs faster. EricaAssist reduces average call times by nearly one minute per interaction.

Frequently asked questions

Question: Why is Bank of America continuing to invest in financial centers as more clients use digital banking?
Answer: While more than 95% of client interactions take place through Bank of America's digital platform, clients continue to value in-person guidance for more complex financial needs. Over the past year, clients made approximately 10 million appointments with specialists in financial centers.

Question: How many new financial centers does Bank of America plan to open?
Answer: Bank of America plans to open nearly 50 new financial centers annually as it continues to grow in new and existing markets. In the coming months, the company plans to open more than 30 financial centers across 22 markets.

Question: What new markets is Bank of America expanding into?
Answer: Wisconsin, Alabama and Louisiana are the new markets in Bank of America's current expansion plan. The company plans to open 19 financial centers in Wisconsin through 2030, 10 in Alabama beginning in early 2027, and eight in Louisiana, with the first expected to open in the second half of 2027.

Question: How is Bank of America investing in its existing financial centers?
Answer: Since 2016, Bank of America has invested more than $5 billion in its financial center network. The company has completed more than 400 renovation projects in 2026, with more than 300 additional projects across 69 markets planned in the coming months.

Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving more than 69 million clients with approximately 3,500 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 60 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. As the #1 small business lender in the United States (FDIC), Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries and/or jurisdictions. Bank of America Corporation stock (NYSE:BAC) is listed on the New York Stock Exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Reporters may contact
Andy Aldridge, Bank of America
Phone: 1.980.387.0514
andrew.aldridge@bofa.com 

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SOURCE Bank of America Corporation

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When will Bank of America open financial centers in Alabama and Louisiana?

Bank of America plans to begin opening Alabama financial centers in Q1 2027 and Greater New Orleans centers in the second half of 2027. Its expansion plans include 10 centers in Alabama and eight in Greater New Orleans.

How many financial centers does Bank of America plan to open in Wisconsin?

Bank of America plans to open 19 financial centers across Wisconsin through 2030. Its first centers in Madison and Milwaukee opened in October 2026, and the Wisconsin openings create approximately 130 job opportunities.

Why is Bank of America expanding branches while customers use digital banking?

Bank of America says clients continue to seek in-person guidance for complex financial needs, even though more than 95% of interactions occur through its digital platform. Over the past year, clients made approximately 10 million appointments with financial center specialists, nearly 20% of them with Financial Solutions Advisors.