Omaha in the crosshairs for Chase Bank expansion-

[Omaha Cowboy]

From the Boston Business Journal:

“JPMorgan Chase & Co. CEO Jamie Dimon was in Boston last week to celebrate the opening of the megabank’s first retail branch in Massachusetts. While there, he was asked to identify markets Chase was targeting following moves earlier this year into Washington, D.C., Philadelphia and Boston.

“Get a list of the top 50 — 75 — (cities) in America, look at ones we’re not in, and assume one day we’ll be in all of them,” Dimon said.

The largest of the Chase-free markets is Minneapolis-St. Paul, the country’s 16th-largest metro, where U.S. Bank (NYSE: USB) is tops in deposit market share. U.S. Bank is followed closely by Chase rival Wells Fargo (NYSE: WFC), according to the Federal Deposit Insurance Corp. Next-largest is another Midwestern metropolis, St. Louis, while its neighbor to the west, Kansas City, also ranks among the 10-largest Chase-free metros.

After Minneapolis and St. Louis, the next-biggest Chase-free markets generally are east of the Mississippi in cities such as Baltimore, Charlotte, Pittsburgh and Jacksonville. The list also surfaces cities in the country's heartland including Omaha, Nebraska, as well as Tennessee's major metros of Nashville, Memphis and Knoxville.“..

The complete story link-

https://www.bizjournals.com/boston/news ... s-and.html

Ciao..LiO...Peace

[MadMartin8]

I am actually somewhat surprised Chase/JP Morgan isn't already in Omaha. This is going to seem strange logic (or lack there of!), so bear with me...but there is a lot of connection between First Data's leadership (or at least there was when I was there) and JP Morgan/Chase. Surprised they haven't tapped into this market yet given those ties.

[Omaha Cowboy]

I am actually somewhat surprised Chase/JP Morgan isn't already in Omaha. This is going to seem strange logic (or lack there of!), so bear with me...but there is a lot of connection between First Data's leadership (or at least there was when I was there) and JP Morgan/Chase. Surprised they haven't tapped into this market yet given those ties.

That’s a smart correlation and very true..

I wouldn’t be surprised at all to see Chase entering the Omaha market within the next 3 years...

Ciao..LiO...Peace

[Coyote]

We would have then a JP Morgan and a PJ Morgan.

[Omaha Cowboy]

We would have then a JP Morgan and a PJ Morgan.

To confuse the entire Omaha metro ...

Ciao..LiO...Peace

[Bob from Omaha]

Chase is here in Michigan along with Comerica and Bank of America and others.

On the plus side Chase has invested over $100 million with small, disadvantages, minority and women owned businesses. They are very community focused.

On the minus side, when we moved here we looked at pretty much every bank within 10 miles of our house. We ended up with Fifth Third Bank. They are a regional bank out of Ohio. Initially they were good but fees kept creeping up. We have since switched to Huntington....also out of Ohio. Zero fees for a checking account. No minimum balance, no monthly fees, etc. Also very progressive.

Chase seemed to have all the basic fees we don't like. They also had horrible branch hours.

When we lived in Nebraska we loved First National. On the business side some branches were open 7 days a week and some weekdays til 7pm. THAT was handy. If I lived in Omaha I'd stick with them.

[Cermak]

First National is the number one bank in Omaha in terms of market share, Believe Wells Fargo #2.

[TitosBuritoBarn]

Chase was my bank in Chicago for my checking account. I enjoyed that their ATMs were everywhere and most did almost anything you would need to visit a bank teller for. Their fraud security is simple and customer friendly. The one time I had my card number stolen they refunded everything without pushback and I got a new card made at the bank the same day. When my First National card number was stolen this wasn’t as easy. There are no fees unless your balance dips below a certain level OR your monthly deposits are below a certain amount. I still use them for checking even though they pulled out of St. Louis.

[jessep28]

Omaha isn't exactly underserved banking wise but more competition wouldn't hurt

[lmdramos]

It appears certain that Chase will open branches in Omaha in the coming months. They have posted multiple job openings for branch manager positions and Private Client Bankers (their in-branch bankers for those who have >$250K in Chase accounts). They have previously announced a Lincoln branch.

[Bob from Omaha]

I banked with them when we first moved the company to Michigan. I regret walking in the door the first time. Chase, Bank of America, Comerica....I wouldn't do business with any of them ever again. I was spoiled by my treatment by First National Bank of Omaha. I've found that Huntington Bank out of Ohio is the closest bank to FNBO in terms of satisfying the customer and not bleeding me dry with fees and treating me like a number.

[bigredmed1]

What is the over under on FNBO merging with Chase?

[Brad]

What is the over under on FNBO merging with Chase?

Hopefully zero. I'll close all my FNBO accounts in a heart beet if that happens.

[nativeomahan]

I have several credit cards through Chase, and my car loan was through Chase. I have always found them to be an excellent bank to deal with, in terms of customer service.

[Dundeemaha]

Same here plus Chase have one of the highest quality websites of any of the banks I use.

Meanwhile fnbo struggles to improve a website that belongs in the 90s and replaces bill pay with a paid ACH service with fees.

[Omaha Cowboy]

Home mortgage through Chase. Everyone’s experience differs..

My experience with Chase- Meh...

Ciao..LiO...Peace

[Linkin5]

I deal with every major bank in work I do. Chase is awful, if you haven’t had issues with them that’s great, but I would highly suggest going elsewhere.

[bigredmed1]

I deal with every major bank in work I do. Chase is awful, if you haven’t had issues with them that’s great, but I would highly suggest going elsewhere.

Sounds like Sprint. Great phones as long as you never need customer service.

[damonhynes]

What is the over under on FNBO merging with Chase?

Finn-Bo is an odd duck. Privately-held, therefore the only shareholders are named Lauritzen, so no acquirer can get a foothold. I'd be surprised if they bail, but who thought TDA would sell?

[ita]

What is the over under on FNBO merging with Chase?

Finn-Bo is an odd duck. Privately-held, therefore the only shareholders are named Lauritzen, so no acquirer can get a foothold. I'd be surprised if they bail, but who thought TDA would sell?

Regarding TDA, mergers between major firms in the industry who relied heavily on commission like TDA, were predicted after the race to zero earlier this year. Some were saying however, that TDA would acquire, not be acquired.

[jessep28]

I've got an ancient credit card that I opened in college with Chase, who bought the original issuing bank. I hardly use the card, but have never had a problem with them.

[Omahacritic]

What is the over under on FNBO merging with Chase?

Finn-Bo is an odd duck. Privately-held, therefore the only shareholders are named Lauritzen, so no acquirer can get a foothold. I'd be surprised if they bail, but who thought TDA would sell?

Family held is good and bad. Sometimes the inheritance tax laws makes it prudent to sell. I’ve witnessed several privately held banks sell themselves because of inheritance tax concerns.

[swinquest]

It appears certain that Chase will open branches in Omaha in the coming months. They have posted multiple job openings for branch manager positions and Private Client Bankers (their in-branch bankers for those who have >$250K in Chase accounts). They have previously announced a Lincoln branch.

Chase has a location on their website in Lincoln, labeled "Lincoln Downtown" at 144 N 14th St. The only location in Nebraska.

https://locator.chase.com/ne/lincoln/144-n-14th-st

[lmdramos]

Here is an article from the OWH. Chase confirmed that they will be opening at least 8 branches in Omaha by 2022.

https://www.omaha.com/news/branch-banks ... 08d95.html

[jessep28]

Their checking accounts don't look to be that good in terms of fees and perks. The "interest bearing" accounts have an APY at a sky high 0.01% APY, lol But having a big bank with branches nationwide make travel more convenient if you need ATM or branch services.

[Stargazer]

A lot of big banks... with no presence in Omaha. Long overdue.

[Omaha Cowboy]

A lot of big banks... with no presence in Omaha. Long overdue.

Agreed...

Ciao..LiO...Peace