BofA adds Wisconsin to branch map, with more states to come

• Supporting data: Starting in 2027, BofA plans to open 10 branches in Alabama and eight in Louisiana. And by 2030, the lender plans to establish another 14 locations in Wisconsin.
• Expert quote: “When there are large decisions to be made, or when there are issues, customers still do like to come to a physical location.” —Ben Shoemake, head of small-business banking at First Horizon Bank

Processing Content

Bank of America branches have arrived in Wisconsin, and next year they’re coming to Alabama and Louisiana.

The nation’s second-largest bank announced Wednesday that it had opened five brick-and-mortar locations in Wisconsin — BofA’s first in the state — and plans to break into Alabama and Louisiana next 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,” BofA CEO Brian Moynihan said in a statement. “That’s why we keep building.”

In recent years, the $3.4 trillion-asset lender has aggressively expanded its geographic footprint. Since 2014, BofA has opened 200 new branches in 17 new markets, spending more than $5 billion to do so.

That’s not to say the bank hasn’t also been closing branches. In fact, in 2025 BofA shuttered 44 more locations than it opened, according to U.S. News & World Report. Its domestic office count of 3,598 was down 26% from 2017, according to Federal Deposit Insurance Corp. data.

But as the bank continues to prune its existing branch network, it’s also eyeing new markets, including Alabama and Louisiana. Those states have been holes in a 39-state branch map that was cobbled together through mergers. Perhaps most notably, Bank of America, historically based in San Francisco, merged with Charlotte, North Carolina-based NationsBank in 1998.

In next year’s first quarter, BofA plans to open 10 branches in the Birmingham, Alabama, area. And it expects to open eight branches in Greater New Orleans, starting in the second half of 2027.

BofA also plans to keep expanding in Wisconsin. In addition to the five branches that just opened their doors, the bank is planning an additional 14 locations in the Badger State by the end of 2030.

Rival JPMorganChase has branches in the 48 continental states. Is BofA’s goal to open branches in all 50 states? Will Smayda, BofA’s head of financial centers, wouldn’t say.

“We will continue to evaluate both new markets as well as our existing footprint,” he said. “So I don’t know where we’ll finish, but we’ll continue to grow where our clients are going.”

At first glance, the push to open brick-and-mortar storefronts may seem puzzling in the digital age. But Smayda says they check an important box: In many parts of the country, clients already have access to other BofA services, such as commercial banking and wealth management. The one thing missing is a branch for consumers.

“We believe we are at our best when our offering is complete,” Smayda told American Banker. “When we have a physical consumer footprint on the ground, it’s the front door of our company. … So it really rounds out the offering.”

Even in the era of smartphones and AI assistants, experts say retail branches still have an important role to play. Ben Shoemake, head of small-business banking at First Horizon Bank, says there are still certain services that customers prefer to get in person.

“When there are large decisions to be made, or when there are issues, customers still do like to come to a physical location,” Shoemake said during American Banker’s Small Business Banking conference on Tuesday.

Read more:

At the same time, the purpose of branches has changed now that many banking tasks can be done on a phone or computer.
“Branches should not be used for transactions,” Welles Borie, principal technical product manager at the fintech FIS, said during the conference. “A branch is an advice center. It’s where people go, especially small-business owners, for high-trust activities: forming a new business, buying out a partner, things that you do not want to leave to a bot or a fintech or some online form.”

In addition, Smayda said, the presence of each branch sends an important message.

“It is a billboard for our company,” Smayda said. “It is a visible, $6 million investment in a particular neighborhood. It says that Bank of America is committed to the community.”