CHICAGO
10/27/2008 05:12 am ET Updated May 25, 2011

Chase Buys Washington Mutual: Fewer Chicago Branches?

The shotgun acquisition of Washington Mutual by JPMorgan Chase & Co. to prevent the former's collapse could mean the consolidation of a number of bank branches in the Chicago area.

Chase has about 340 branches in the Chicago market, more locations than any other bank in the area by a wide margin.

WaMu expanded aggressively in the Chicago area in 2003 but made little inroads in gathering deposits. It has 117 Chicago-area branches, giving it the seventh-biggest footprint among area banks. But it ranks 28th in deposit market share, with 0.51 percent of the market.

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