Oct. 22, 2020

JPMorgan Chase & Co. is coming into South Dakota, with plans to create a network of branches and ATMs – beginning with one at a prominent location on 41st Street.

Chase plans to open its first branch at Empire Place, the same property in front of The Empire Mall where Chipotle Mexican Grill is under construction.

“The opening of our new branch represents Chase’s commitment to serving the community of Sioux Falls. Chase has vast experience in helping consumers and businesses with their financial needs, and our branch is proud to announce plans to join the community,” spokesperson Darcy Donahoe-Wilmot said in a statement.

“Bringing branches to the area gives customers expanded access to our products, digital tools and tailored in-branch experiences, like financial advice, from short-term savings to retirement.”

JPMorgan Chase also has an application in review with the federal government for a location at 26th Street and Sycamore Avenue.

Its footprint in the market “will include a mix of full-services branches and enhanced ATMs in and outside of the branch that can perform close to 70 percent of routine transactions,” Donahoe-Wilmot said.

“Our new branches will be built with modern design elements, intended to be open and collaborative, comfortable, inviting environment, seamless customer experience.”

They also are energy efficient, designed to reduce energy consumption by 15 percent and lighting-related consumption by 50 percent.

“We remain focused on helping families achieve affordable access to credit and have recently created or enhanced products to meet the needs of more customers across the credit spectrum,” Donahoe-Wilmot said.

JPMorgan Chase & Co. (NYSE: JPM) is a major global financial services firm with assets of $2.7 trillion and services including investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management.

The 3,300-square-foot building at Empire Place will include an outside designated ATM lane.

“We’re thrilled to welcome Chase to Sioux Falls, to South Dakota and to Empire Place,” said Raquel Blount, Lloyd Cos. vice president of commercial real estate who represents Empire Place.

“This location provides them maximum visibility and exposure given the dominance of this development in terms of traffic and draw not only from Sioux Falls but for those coming from the wider regional area,” she said in a statement.

Construction is expected to start this fall, with the branch opening next spring. Chase branches vary in staffing but typically employ eight to 10 people, Donahoe-Wilmot said.

“We will hire employees to manage a variety of customer transactions, from routine transactions to more complex needs like getting a home loan to saving for retirement,” she said.

Chase will be located on property at Empire Place that previously had been announced as Longhorn Steakhouse. The restaurant isn’t moving ahead on expansions at this time.

“Activity continues to be good in terms of other interest in the development,” Blount said. “We’re working through several more potential leases, and we feel like among those retailers who are looking for a new location, they absolutely are considering Empire Place.”