Chase Bank's new branch in Cambridge's Harvard Square. Photo by James Sanna | Banker & Tradesman Staff

Santander Bank has proceeded with the planned closures of its bank branches while JPMorgan Chase Bank continues to expand its branches in Massachusetts, according to data from OCC in the past four weeks.

The OCC data from July 17 to Aug. 12 show that Santander reported a total of 21 branch closures in Massachusetts, 17 of which are already closed down as of writing.

The bank earlier said it is simplifying its processes, refining its branch footprint and focusing investments in digital capabilities to serve the evolving needs of customers.

Santander is in the middle of a major reorganization as it consolidates its commercial banking business with real estate and vehicle-financing businesses. As part of the moves, it also laid off Joe Abruzzo, the head of its commercial banking division.

Meanwhile, the OCC data showed JPMorgan Chase filing applications for six new branch openings in the state, two of which are already up and running.

JPMorgan said in an email that the bank has so far opened 74 branches across New England – 49 branches in Massachusetts, five in Maine, six in New Hampshire, 12 in Rhode Island and two in Vermont. The goal to have 90 branches in Massachusetts is almost double the bank’s original goal of about 45 by 2022.

OCC Data: Santander Shrinks Bank Locations, JPMorgan Expands

by Nika Cataldo time to read: 1 min
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