Roundup: 16 New Glendale Branches by Mid-July

Glendale Federal Bank said 16 new branches-eight denovo and eight in-store-will be open by July 15.

The bank said it expects to open a total of 42 branches in California during the next two years. Glendale currently operates 154 branches and 25 loan offices.

William J. Birch, Glendale Federal's executive vice president and manager of retail banking, said the strategy is advantageous given the number of branch closings that have resulted from recent mergers.

In the Bay Area, five de novo branches will be opened in Mill Valley, San Mateo, Los Gatos, Cupertino, and Palo Alto. The Office of Thrift Supervision also approved three de novo branches in San Diego, La Mesa, and Poway.

In addition, Glendale signed an agreement with Major Market, a San Diego-area supermarket chain, to open two in-store branches in Fallbrook and Escondido.

In Simi Valley, Glendale has already opened the first of 20 planned branches inside Kinko's Copies stores. These branches will specialize in serving small businesses.

The next five Kinko's branches are expected in the next few months.

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