Chase opens highly competitive Portsmouth bank
PORTSMOUTH – Chase is the latest institution to open a bank in the city, home to more than a third of all banks operating in the state of New Hampshire.
Chase’s bank in Portsmouth – the fourth in Granite State in recent months – opened in June at 1574 Woodbury Ave., part of a shopping center that includes the new Whole Foods grocery store.
“We have long seen Portsmouth as the place we wanted to be,” said Laura Cortese, Chase Market Manager for New Hampshire, Vermont and Maine. “We look forward to building new relationships and helping our clients through life’s most important moments, like opening their first savings account, buying their first home, or planning for retirement. .
Chase becomes the 17th bank in Portsmouth. With branches, this rises to 25 banks in the city (and this number does not include credit unions). These 17 represent 38.6% of the 44 banks currently doing business in Granite State, according to the FDIC Insured Banks Database.
Gerald Little, banking commissioner for the NH Banking Department, cites the state’s “vibrant” economy as the reason so many banks come here, especially out-of-state institutions.
“When the department has the opportunity to ask out-of-state bankers what attracted them to New Hampshire, it becomes evident that they see New Hampshire’s economy as particularly vibrant and, to their liking. opinion, able to withstand additional competition, ”Little said. “In short, they see the opportunity to expand their existing market area.”
Recognizing the competitive market here, Cortese said what will stand out from Chase are its people.
“I believe our team is going to put us above and beyond,” Cortese said. “Portsmouth is a great community; that’s where people want to be.
The 3,270 square foot bank opened on June 22 in Durgin Square along Woodbury Avenue. It is the fourth Chase bank to open in New Hampshire in recent months, preceded by two in Nashua and one in Salem. A fifth is expected to open soon in Manchester.
Chase is building a physical presence in the state where it already has 300,000 customers and some 12,000 business customers.
“Everyone wants convenience and is served digitally, but people also want to be served in a full suite with people from their own community to help them out,” Cortese said. “Our branches are good for the local economy. They are good for our customers. People want to come in; they prefer this high-level advice when it comes to those moments in life: retiring, buying a house, sending kids to college. “
Chase said Portsmouth Bank looks different from other banks. He said in a statement that “it combines modern design, layout and cutting edge banking technology, reflecting the way customers interact with Chase today. Employees will greet customers in relaxed meeting spaces, with an emphasis on a more consultative approach, and offer self-service transaction areas, including a digital access bar, smart ATMs and Wi-Fi. -Free WiFi.
Cortese described it as “a very lively living room, a feeling of relaxation”. There is a lot of open space inside the doors with sofas and tables. Glass desks provide privacy when needed. The counters do not face, but are out of sight in a corner.
Jonathan Lakaszcyck, the Portsmouth branch manager, is from the area and has returned from a Chase bank on the west coast to run the new local bank.
“We have a fantastic team of bankers here in Portsmouth who are dedicated to serving the needs of our clients,” said Lakaszcyck. “We want to be where our customers live and work, which is why we are excited to expand our presence here in the Seacoast area.”
Chase is the US commercial and consumer banking business of JPMorgan Chase & Co., a global financial services company with $ 3.4 trillion in assets and operations worldwide. Chase serves more than 60 million U.S. households with a wide range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans, and processing. payments.
While some of Portsmouth’s banks were originally chartered in New Hampshire, many are from out of state, particularly Maine – Bangor Savings Bank, Kennebunk Savings Bank, Camden National Bank and Partners Bank of New England, to name a few.
Little attributed the out-of-state appeal to “a slight regulatory touch that allows out-of-state institutions to enter the market quite easily.”
“Conceptually, increased competition benefits state consumers in the form of more choice and better prices,” he added. “When it comes to Maine, New Hampshire is obviously their only next-door state option and the Seacoast area is a particularly attractive market. There is similar cross-border activity involving institutions in the greater Boston area and northern Massachusetts, so they are seeing the benefits as well. “