After opening its new branch in Exton last week, Bank of America — one of the largest banks in the nation — is planning on investing an additional $47 million into its Philadelphia region footprint and open five more locations, writes Jeff Blumenthal for the Philadelphia Business Journal.

On Thursday, Bank of America managing director and consumer banking executive Bernard Hampton visited Chester County for the grand opening of its Exton branch at 203 S. Pottstown Pike.

The bank has already hired five people to staff its newest site and plans to hire more as the five planned branches begin opening later in the year.

According to Hampton, Bank of America is using its new Exton branch to capitalize on the varied advice it can offer, like its Merrill Lynch investment unit.

“Beyond just being simply more inviting, we want our offices to be able to support advice, guidance and conversation,” he said. “So privacy is important. They often involve the need for more offices. As we renovate, that allows us to be able to put more specialists in front of clients to be able to support their needs around banking, lending, or investing.”

Read more about Bank of America expanding locally and regionally in the Philadelphia Business Journal.

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