Bank of America Opening Over 165 Locations by 2026: Will You Be Getting One?

Your banking needs could get a little easier to manage with news that Bank of America plans to open additional locations.

The banking industry has seen some contraction of bank branches in recent years due to the rise of online banking, but there's still a need for bank branches for things like applying for a loan or opening a new bank account.

Here's what you need to know about Bank of America's plans to open new locations in the next few years.

In September, Bank of America announced it plans to continue to open new branches that can help customers across the country.

The bank said in a press release that it expects to open 40 branches this year and is on track to open 165 locations by 2026.

It may be a bit surprising to see Bank of America open new locations as customers get more banking options online or with the company's mobile app. However, customers still want to do some things in person.

"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," said Aron Levine, president of preferred banking at Bank of America, in a press release.

As part of its expansion plans, Bank of America recently opened a new location in Louisville on Shelbyville Road, and a second location is expected to open soon.

The bank plans to have five locations in Louisville by the end of 2025 for residents. Lexington residents already have eight locations in their city, and the bank also has locations in Fort Campbell and Nicholasville.

Boise residents can expect a new Bank of America branch to open in their city in early 2025.

Bank of America currently has three locations in Idaho, with customers visiting its branch in Post Falls or one of its two branches in Coeur d'Alene.

Bank of America does have plans to expand into cities where they already have a presence or reach new cities as part of its plans.

The bank expects to open new branches in cities like Omaha where it already has locations and new spots like Milwaukee, New Orleans, and Huntsville and Birmingham in Alabama.

Bank of America is also updating current locations to make them more inviting for current customers or to welcome new customers.

More than 3,000 locations have been updated and modernized to make them more inviting to customers. The changes include more offices and meeting centers, modern design, and technology to greet customers and help them get access to their banking needs.

Some customers still prefer to use bank branches for certain needs despite easier access to online and mobile banking options.

A recent study by Self Financial reviewed data from the Federal Deposit Insurance Corporation (FDIC). It determined that customers still use physical bank branches for cash deposits and withdrawals or to speak with a banking expert in person.

Online banking is rising in popularity, but customers also have things they would rather do in person than online or with a mobile app.

The Self Financial survey found that customers are shunning online banking due to issues such as lack of access to cash and ATMs, uncertainty about its security, and a preference to talk with financial experts in person.

Bank of America can be a good option if it expands and opens a new location in your city or adds to the number of current locations in your city.

Bank branches can be good options for managing your money, but you can also try online banking if it's easier for you to skip a physical trip to a branch for certain options, such as making deposits, transferring money, or paying bills.