SAN FRANCISCO – JPMorgan Chase & Co. said yesterday it will rebrand 708 Washington Mutual branches and 1,900 ATMs in California with the Chase logo on March 30 as part of its integration of previously acquired WaMu.
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JPMorgan will spend $300 million to refurbish and rebrand WaMu branches in California. It will also spend $75 million to open an additional 20 branches throughout the state during the year.
All WaMu branches will be rebranded nationwide with the Chase logo by the end of 2009, giving Chase more than 5,000 branches in 23 states.
JPMorgan acquired Washington Mutual in September after Seattle-based WaMu became the largest ever thrift to fail amid the ongoing downturn in the credit and lending markets.
