12:26 PM EDT, 05/27/2025 (MT Newswires) -- (Updates with branch expansion plans in third paragraph.)

JPMorgan Chase ( JPM ) plans to open 14 high-end branches across four states this week focused on attracting affluent US customers with its J.P. Morgan Private Client service.

The new branches, mostly former First Republic locations, will open in New York, California, Florida, and Massachusetts, the company said Tuesday in a statement.

The bank intends to have 31 new financial centers by the end of 2026. Two opened in late 2024.

J.P. Morgan Private Client is for customers with more than $750,000 in qualifying deposit and investment balances.

The bank's stock rose 1.2% in recent trading Tuesday.

Price: 264.18, Change: +3.47, Percent Change: +1.33