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JPMorgan Chase to open eight new branches in Massachusetts this year – The Boston Globe

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JPMorgan Chase to open eight new branches in Massachusetts this year – The Boston Globe


JPMorgan Chase is doubling down on its branch expansion strategy again, bucking the banking industry’s consolidation trends by unveiling plans on Wednesday to open more than 160 Chase locations this year, including eight in Massachusetts.

The New York-based financial services giant had no Chase branches in Massachusetts (or in several other New England states) before launching an aggressive rollout here — along with the Philadelphia and Washington metro areas — that began nearly eight years ago.

Chief executive Jamie Dimon has been pursuing an unusual strategy for growth, particularly amid the rapid rise of mobile banking. While banks sometimes open new standalone branches, most of their branch network growth typically occurs through acquiring smaller banks. But JPMorgan is boxed in by federal regulators because it holds at least 10 percent of the country’s deposits; exceptions are allowed when acquiring a struggling or failing bank, as happened when JPMorgan picked up much of First Republic in 2023.

By the end of 2026, Chase will have 100 branches across Massachusetts, around the same number as Eastern Bank. The new ones in Greater Boston will include 250 Cambridge St. (Beacon Hill) and 6 Francis St. (Longwood) in Boston, 146 Church St. in Pembroke, 180 Main St. in Saugus, and 108 Main St. in Medway, according to a list provided by a bank spokesperson. Other branches are planned in Clinton, Springfield, and South Attleboro.

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This is in line with growth plans for Massachusetts that JPMorgan Chase announced two years ago, when it increased its ultimate goal for the state to have around 110 branches here.

JPMorgan billed the 2026 rollout as a multibillion-dollar investment, a figure that includes the cost of the 160-plus new branches across 30 states and 600 branch renovations. The rollout will require the bank to hire 1,100 new employees; Chase branches are typically staffed by eight to 10 people.

Dimon has made it clear he wanted Chase to be the first bank with branches across all 48 contiguous states, a milestone he achieved in 2021.

In 2018, during a visit to Boston, Dimon said he would not be satisfied until his bank was among Boston’s top three banks. He’s made considerable progress toward that goal after starting with almost no market share. With the recent merger of Brookline Bank and Berkshire Bank, Chase moves into eighth place in the city and 14th in the metro area.

However, it’s still well behind market leaders Bank of America, Citizens Bank, and Santander Bank. In mid-2022, before the First Republic acquisition, Chase had $1.9 billion in deposits in the Boston metro area, while First Republic had $18 billion; as of mid-2025, Chase’s number in the region had grown to $4 billion, according to federal banking data. Many First Republic customers stayed, but many big accounts left as well amid the 2023 turmoil, and Chase returned to its growth strategy of adding more customers, branch by new branch.

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Jon Chesto can be reached at jon.chesto@globe.com. Follow him @jonchesto.





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Massachusetts

Massachusetts’ middle-class income range is highest in US., topping out at over $200K

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Massachusetts’ middle-class income range is highest in US., topping out at over 0K


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Your household can earn more than $200,000 a year and still be considered part of the “middle class” in Massachusetts, according to a recent study by SmartAsset.

Massachusetts ranks as the top state with the highest income range for households to be considered middle class, based on SmartAsset’s analysis using 2024 income data from the U.S. Census Bureau. The Pew Research Center defines the middle class as households earning roughly two-thirds to twice the national median household income.

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According to a 2022 Gallup survey, about half of U.S. adults consider themselves middle class, with 38% identifying as “middle class” and 14% as “upper-middle class.” Higher-income Americans and college graduates were most likely to identify with the “middle class” or “upper-middle class,” while lower-income Americans and those without a college education generally identified as “working class” or “lower class.”

Here’s how much money your household would need to bring in annually to be considered middle class in Massachusetts.

How much money would you need to make to be considered middle class in MA?

In Massachusetts, households would need to earn between $69,900 and $209,656 annually to be considered middle class, according to SmartAsset. The Bay State has the highest income range in the country for middle-class households. The state’s median household income is $104,828.

In Boston, the range is slightly lower. Households need to earn between $65,194 and $195,582 annually to qualify as middle class, giving the city the 19th-highest income range among the 100 largest U.S. cities. Boston’s median household income is $97,791.

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How do other New England states compare?

Massachusetts has the highest income range for middle-class households in New England. Here’s what households would have to earn in neighboring states:

  1. Massachusetts (#1 nationally) – $69,885 to $209,656 annually; median household income of $104,828
  2. New Hampshire (#6 nationally) – $66,521 to $199,564 annually; median household income of $99,782
  3. Connecticut (#10 nationally) – $64,033 to $192,098 annually; median household income of $96,049
  4. Rhode Island (#17 nationally) – $55,669 to $167,008 annually; median household income of $83,504
  5. Vermont (#19 nationally) – $55,153 to $165,460 annually; median household income of $82,730
  6. Maine (#30 nationally) – $50,961 to $152,884 annually; median household income of $76,442

Which state has the lowest middle-class income range?

Mississippi ranks last for the income range needed to be considered middle class, according to SmartAsset. Households there would need to earn between $39,418 and $118,254 annually. The state’s median household income is $59,127.



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‘No Kings’ protests draw thousands against the Trump administration who are ‘fed up, pissed off, and also hopeful’ – The Boston Globe

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‘No Kings’ protests draw thousands against the Trump administration who are ‘fed up, pissed off, and also hopeful’ – The Boston Globe


Dropkick Murphys frontman Ken Casey altered the lyrics of some songs to criticize Trump and US Immigration and Customs Enforcement.

“Let’s ship them out of Boston,” he told the crowd, referring to ICE agents and echoing lyrics from “I’m Shipping Up to Boston.” “Are you with us?”

Pressley followed, telling demonstrators the “world is on fire.”

“It is going to take every single one of us doing everything we can to put this fascist, white nationalist fire out,” Pressley said. “The only way to beat a dictator is with defiance.”

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Some of the faces in the crowd at the “No Kings” protest on Boston Common.Jonathan Wiggs/Globe Staff
The Dropkick Murphys perform during the protest.Finn Gomez for the Boston Globe

The flagship national demonstration was held in Minneapolis, where US citizens Renee Good and Alex Pretti were killed in January during a massive federal immigration crackdown that ended last month.

Bruce Springsteen performed “Streets of Minneapolis,” the protest song released after the killing of Pretti with lyrics describing the city as “aflame” under “King Trump’s private army.”

In Massachusetts, organizers staged 169 demonstrations, said Rahsaan D. Hall, president and chief executive of the Urban League of Eastern Massachusetts and emcee for the Boston Common event.

Saturday’s gatherings marked the third time protesters have mobilized under the “No Kings” banner since the first protest last June. Another round of protests took place in October.

Demonstrators gathered as the US war in Iran entered its second month with oil prices surging and Trump declaring victory is at hand even as thousands of additional American troops head to the Middle East.

Within the GOP, congressional leaders are at odds over funding the US Department of Homeland Security, which has been partially shut down since mid-February and has a new leader, Markwayne Mullin. Trump fired his predecessor, Kristi Noem, earlier this month following controversies over her leadership.

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Mihika Gogate, 24, who recently moved to Boston from North Carolina, said she was demonstrating for “absolutely everyone in this world that is suffering at the hands of the decisions of our fascist leader at the moment.”

She carried a sign depicting a Joker playing card featuring Trump with a crown on his head.

“I think, especially now, it’s such a scary time to be an adult in this world,” Gogate said. “It’s not just something that is affecting one of us. It’s affecting all our futures and our current realities.”

Michael Payne, Jean Carroon, and Maxie Chambliss were at the “No Kings” protest on Boston Common.Jonathan Wiggs/Globe Staff
The crowd on Boston Common was reflected in the horns of the performers.Finn Gomez for the Boston Globe

In Quincy, demonstrators gathered outside City Hall were encouraged to remain politically active.

“We hate what Donald Trump is doing. I’m tired of being in a state of exhaustion, and he’s bombarding us every day,” said Donna Cunningham, 51, a Quincy resident. “We need events like this to remind ourselves that we’re not alone in our little islands of our homes.”

On Boston Common, Sara Welch filmed the bustle as she walked through the park en route to Cheers. A resident of Hastings, Minn., Welch said she’s in the area for work.

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“It means a lot, especially with everything that went on in our state with ICE,” Welch said.

Yet some questioned whether large demonstrations are generating the changes they seek.

Warren May, a demonstrator from Watertown, said the Women’s March held the day after Trump’s first inauguration in 2017 was the last time he participated in such a large protest.

“That was really kind of great and inspiring and wonderful, but look where we are now,” May said. “It’s just gotten worse.”

John Cluverius, who teaches political science at the University of Massachusetts in Lowell, said the mass demonstrations signal to elected Democrats that the opposition to Trump “is real and is tangible.” His popularity has slipped since the last “No Kings” demonstrations in October, he said.

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“Being the party out of power has a very isolating effect on both individuals and voters — the sense that they’re out of control of the destiny of the country,” Cluverius said. “There is almost an affirming effect for people to gather in these places and get the sense that even though they’re opposed to so many things that are happening, they’re not alone.”

There are also signs that the protests are pushing elected officials to answer demonstrators’ demands, Cluverius said.

On Friday, Senate Republicans abandoned vows to resist any deal for Department of Homeland Security funding that did not include money for ICE and US Customs and Border Protection, by voting to do just that.

“Senate Democrats … did not defect in any way, and I think that speaks to the fact that these rallies were today,” Cluverius said.

Several exhibitions on Boston Common brought attention to the impact of Trump’s policies.

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An installation called “Eyes Wide Open — The Cost of War” featured rows of shoes, backpacks, and toys symbolizing the more than 160 children killed at an Iranian school during the opening day of US-Israeli strikes on Iran.

“We hope that this will cause people to pause and consider the humanitarian impact of this war,” said Ziba Cranmer, 54, who belongs to the Massachusetts chapter of the National Iranian American Council.

An ice sculpture reading “END ICE” was carved by artist Kat Carves.

“It’s a very powerful message,” said Lisa Mahoney, 66, of Beverly.

Most Americans disapprove of Trump’s performance as president, according to YouGov polling on behalf of The Economist, which found this month that his net approval rating is at -18 percentage points.

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His deportation agenda, attacks on higher education, and efforts to nationalize elections are deeply unpopular in Massachusetts, which backed his Democratic opponent, Kamala Harris, in the 2024 election.

A February poll by the University of New Hampshire Survey Center found 72 percent of Massachusetts residents disapprove of Trump’s overall job performance, driven largely by fears that he threatens democracy.

Dave Beyna, portraying George Washington, arrived at the protest on Boston Common before it started.Jonathan Wiggs/Globe Staff
Protesters sit at the Soldiers and Sailors Monument at the “No Kings” Boston rally.Andrew Burke-Stevenson/for The Boston Globe

Changes to the childhood vaccination schedule paused for now by a federal judge in Boston, new eligibility limits to public safety net programs under Trump’s One Big Beautiful Bill, and research funding cuts have also drawn opposition here.

Sonya Shropshire-Friel of Dover, N.H., said her parents protested during the civil rights movement and were arrested as college students in Elizabeth City, N.C.

“I thought if they can do that, I can show up here today,” she said.

Trump’s rhetoric and the actions of his immigration enforcement agents “really make America unsafe,” Shropshire-Friel said.

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“He has made people more inclined to be unkind and cruel toward one another,” she said. “I need to be out here with people who are also fed up, pissed off, and also hopeful.”


Laura Crimaldi can be reached at laura.crimaldi@globe.com. Follow her @lauracrimaldi. Anjali Huynh can be reached at anjali.huynh@globe.com. Aayushi Datta can be reached at aayushi.datta@globe.com.





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First Submarine Named After Massachusetts Joins the Navy Fleet

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First Submarine Named After Massachusetts Joins the Navy Fleet


BOSTON — The USS Massachusetts officially joined the Navy fleet on Saturday after a commissioning ceremony, making it the first submarine named after the Bay State.

The newest Virginia-class fast attack submarine, which can dive to depths greater than 800 feet (240 meters), was christened on May 6, 2023, by the ship’s sponsor, Sheryl Sandberg, the former COO of Meta. This is the 25th Virginia-Class submarine co-produced by General Dynamics Electric Boat and Newport News Shipbuilding and the fifth U.S. Navy vessel named after Massachusetts.

“To be able to take a ship from new construction and watch it be built together by the ship yard, train with our team and bring into Boston Harbor for the first time, it’s very amazing,” said the sub’s commanding officer, Mike Siedsma, a 21-year Navy veteran who has spent time on four different classes of submarines. “I looked at the history books. I don’t think we’ve had a submarine in Boston Harbor since sometime in the late ’80s or early ’90s.”

Siedsma did not say where the sub — which cost over $2.8 billion, weighs about 8,000 tons and can carry 24 Tomahawk cruise missiles — is headed. A U.S. submarine sank an Iranian warship off the coast of Sri Lanka earlier this month in the war with Iran.

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“The geopolitical situation is very interesting,” Siedsma said. “What is important to remember is what we are doing is proving the power of the United States Navy.”

The crew of 147 also includes 39 women, 16 years after a ban on women serving on submarines was lifted. The USS New Jersey, which was commissioned in 2024, was the first sub designed and built with modifications for a gender-integrated crew.

“The ship is intentionally designed to be served on by both women and men. That is pretty exciting. Twenty five percent of this crew is female,” Sandberg said. “Those sailors just don’t inspire me. They inspire every little girl out there to believe that she could do anything.”

The Navy said this is the fifth vessel to be named after the state. The first USS Massachusetts was a steamer built in 1845 and the last was USS Massachusetts, BB 59, commissioned in 1942 as a South Dakota-class fast battleship. Most of its time was spent in the Pacific during World War II.

For Sandberg, the commissioning also brought to mind the role the state has played in the founding of the United States and how “people are still fighting for the same freedoms that the original colonists were fighting for.”

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Reporters touring the sub were led past the control room, down into the torpedo room and into the dining hall. The ward room, where officers eat, also features a mug rack featuring wood from counties in Massachusetts. It was donated by “This Old House,” the television home improvement show.

“It was an incredible donation. Very great connection to the state and the commonwealth,” Siedsma said. “It’s beautiful.”

© Copyright 2026 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



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