Connect with us

Massachusetts

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

Published

on

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.

Advertisement

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.

Advertisement

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





Source link

Massachusetts

The science behind Massachusetts’ wildfire smoke-darkened skies

Published

on

The science behind Massachusetts’ wildfire smoke-darkened skies


Massachusetts’ recent smoky skies and hazy sunsets may look unusual, but experts say what we’re seeing is part of a growing pattern fueled by bigger and longer wildfire seasons.

The strange haze has lingered for two days — so far — thanks to a weather pattern bringing smoke straight from parts of Ontario, Canada, straight to New England.

NBC10 Boston

NBC10 Boston

“A lot of the fires farther up north are burning longer and more intensely than they have previously, so that’s been a big change and may be why we’re seeing more of the smoke,” said James Urban, an associate professor in the Fire Protection Engineering Department at Massachusetts’ Worcester Polytechnic Institute.

It looks like Boston’s getting a break from the wildfire smoke that’s making the sky hazy enough that you can actually look at the sun, if briefly. But that break may not last. Plus, we’re looking at rain moving in this weekend.

Advertisement

He explained the nuances about how climate chance may play a role in what we’re seeing this summer.

“In general, drier conditions make things more flammable, but also, if you have a period before that of wet winter but not a lot of freezing, you may get a lot of plant growth, and then when it dries out in a drought, you get a lot of fuel that may ignite,” Urban said.

Why does smoke travel cross-country and change the color of the sky?

We went to a museum to find out more about what’s causing the unearthly images in the sky.

“With smoke, it’s driven into the air with the heat and then gets caught in the upper air current, so it travels over the mountains and comes straight across the country,” said Noreen Johnson Smith, president and CEO at Worcester’s EcoTarium.

Mass. or Mars? Photos of the eerie, rusty skies caused by Canadian wildfires

The way the sun looks has to do with how smoke scatters light.

Advertisement

“We’re seeing these bright orange and red suns because the blues aren’t able to reach our eyes at the moment,” said Murphy Florman, an educator at the museum.

How smoke affects air quality

An air quality alert for Massachusetts has been extended through all day on Thursday, with the Department of Environmental Protection saying in a statement, “elevated levels of fine particles [mean that] air quality statewide is expected to be unhealthy for sensitive groups.”

Massachusetts is under an air quality alert due to the Canadian wildfire smoke that’s made the skies dark and hazy and turned the sun into an “orange orb.” Here are the factors making the air hard to breathe for some and what medial professionals say about it.

Tufts Medical Center pulmonologist Dr. Sucharita Kher said that it’s important to be aware of the air quality where you live, especially if you’re going to be spending time outside. The conditions Massachusetts has been experiencing are especially harmful to those with heart or lung disease.

“The symptoms of that can be tightness in the chest, they can experience more wheezing, they can have more swelling in their airways leading them to cough more, produce more phlegm,” she said. “All of that ultimately leading to worsening symptoms of that underlying disease.”

Advertisement

Needham pharmacist Kevin Ryan said certain medications can help with symptoms, such as histamines like Claritin or Zyrtec, as is wearing an N-95 mask.

“If you feel like you’re doing fine outside, that’s great. If you if you don’t feel like you can breathe effectively, then limit your exposure,” he said.

Canadian wildfire, smoke map



Source link

Advertisement
Continue Reading

Massachusetts

Massachusetts Broadband Institute distributes devices to underserved communities

Published

on

Massachusetts Broadband Institute distributes devices to underserved communities


BOSTON (WWLP) – The Massachusetts Broadband Institute (MBI) announced Wednesday that it is distributing 5,063 internet-enabled devices to 45 organizations across the state.

The statewide effort, administered through the Connected and Online program, aims to expand economic opportunity by increasing digital access. This program is a $31.6 million initiative funded through the U.S. Treasury’s Capital Projects Fund that provides Massachusetts-based organizations with laptops, tablets, and desktop computers to help residents access the internet.

Equipment provided through the program also includes supportive items, such as braille keyboards, intended to assist vulnerable populations.

Both Gateway Cities and rural communities are supported by the Connected and Online program, as residents are provided with direct access to devices through lending programs or resources at publicly accessible locations.

Advertisement

“The Connected and Online program opens doors for communities to access critical services and build relationships with their neighbors,” said Governor Maura Healey. “By partnering with trusted local organizations, we’re helping more people get online, access essential services, and connect to new educational and economic opportunities.”

To date, the program has provided nearly 32,000 devices and more than 13,000 pieces of supportive equipment. These devices have been distributed to hospitals, municipalities, nonprofits, public libraries, elder and youth aid groups, and workforce training organizations across the Commonwealth.

This latest award announcement follows a prior distribution launched by MBI on April 2, which included nearly 27,000 devices to over 200 organizations across the state.

“MBI is leveraging strong relationships with local and regional organizations to deliver digital devices for Massachusetts residents,” said MBI Program Executive Jody Jones. “The Connected and Online program is a statewide effort to expand access, increase digital skills training, and, at its core, expand the ability to connect to the internet.” 

For a full list of awardees, visit broadband.mass.tech.org.

Advertisement

Local News Headlines