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Bank of America enters Ohio market

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Industry Spotlight
Tuesday, July 30, 2019

Making its first expansion into the Ohio market, Bank of America recently opened its first full-service financial center in Cincinnati with plans to open a similar facility in Columbus shortly after. The move brings the company’s retail banking, lending and small business services, plus investing with Merrill, to new and existing clients in the areas, according to a press release.

The centers are intended to serve as destinations to provide clients easy access to expert advice for all their financial needs.

The bank plans to open almost 30 centers in Cincinnati and Columbus over the next two years and will expand its presence into the Cleveland area next year as well. Bank of America has already opened 65 ATMs in Cincinnati and Columbus over the past year and has nearly 100 ATMs in the state of Ohio. The bank invested $468 million for home and small business loans through 2018 and expects that number to grow with the expansion of its network.

“The new financial centers in Cincinnati and Columbus further tie our success with Ohio’s success,” Bank of America Ohio Market President Jeneen Marziani said in the release. “By bringing even more financial services to Ohio – including new Private Bank offices – we’re able to deliver the full breadth of our capabilities to help our clients improve their financial lives.”

The company is referring to the new financial centers as “state of the art,” designed to showcase the latest technology employed by Bank of America, including advanced ATMs; private offices to assist clients one-on-one; on-site specialists, including Merrill financial solutions advisors; Bank of America lending officers and small business bankers who work as one team to understand a client’s unique circumstances and personal goals to provide the guidance and advice they seek.

“Expanding our nationwide financial center presence to Ohio helps us better serve all the needs of our clients here and deliver on our commitment to responsible growth,” Bank of America CEO Brian Moynihan said.

Bank of America has a long history of serving the Ohio community, providing commercial and business banking, as well as wealth management services through Merrill, to more than 775,000 relationships across the state.

The retail entrance into Ohio reflects the company’s continued expansion and modernization efforts across its financial center and ATM network, the release notes. It is part of the bank’s recently announced plans to modernize 1,500 financial centers; add more than 2,700 enhanced ATMs; and open 350 new financial centers in new and existing markets over the next few years, including in Salt Lake City, Pittsburgh, Denver, Minneapolis, Indianapolis, Ohio and Lexington, Ky.

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