Angela Webber//August 11, 2011//

Chase is seeking to increase its presence in the Portland-metro area significantly, by adding more than 30 bank branches in the next three years. The company also is looking to build solid relationships with its new neighbors.
Since acquiring Washington Mutual in 2008, Chase has desired to increase convenience for customers who don’t live, shop or work near its branches in the metro area. Although Portland was a good market for Washington Mutual, it did not focus on building new branches in its last four to five years, said Ray Lindley, JPMorgan Chase market manager for Oregon and Southwest Washington.
Other banks also are expanding in the market, but not at Chase’s pace.
鈥淐hase is doing very well financially,鈥 he said. 鈥淲e’ve come through a lot of the malaise. And (Portland-metro) is an underserved market for Chase; we think it’s a growth market.鈥
One neighborhood targeted by Chase is Hillsdale. Its neighborhood association took a summer break and chose not to meet in August, so members were surprised by Chase’s request to include a large parking lot with the branch building it planned to construct.
Hillsdale residents became concerned about the building proposal because the neighborhood’s main street area has zoning specifically designed to encourage a 鈥渧illage鈥 feel. Dense commercial areas with storefronts are favored because they encourage pedestrian traffic.
鈥淲e had to buy some time,鈥 said Rick Seifert, a Hillsdale resident who operates a blog and newspaper about the neighborhood. 鈥淲e signaled to Chase that if (it) didn’t grant an extension and an opportunity to come up with input and alternatives, (the neighborhood association) would oppose the proposal.鈥
On Wednesday morning, after a Tuesday night meeting with neighbors, JPMorgan Chase executives told the city and the neighborhood association that they wanted to extend the comment period on their proposal for 30 days. Hillsdale neighborhood association President Mikal Apenes said that announcement was appreciated.
鈥淲e want to be as good a neighbor as we can in each community,鈥 Lindley said.
Chase’s architects will meet with Hillsdale representatives to ensure the branch is compliant with neighborhood standards. Company officials also will consider possibilities of parts of the building or lot being used for meetings or a farmers market when the branch is closed.
鈥淲e hope that goes a long way to make the lot, and our building, an integral part of the community,鈥 Lindley said.
Construction has started in the Portland-metro area on six new branches that Chase expects to open by the end of the year. The bank plans to open at least 12 more in 2012, and at least 15 more in 2013. Future construction contracts will go out to public bid, spokeswoman Darcy Donahoe-Wilmot said.
Chase isn’t the only bank growing in the Portland-metro area. Key Bank’s goal was to open 20 branches in the region between 2009 and 2012. It has opened 15 since 2008 and will continue to grow, spokeswoman Anne Foster said.
鈥淥ur goal is not to build in every state, but to seek a 10 percent market share wherever we do business,鈥 she said.
Key Bank, which has branches in 14 states, is not at 10 percent in Portland yet.
Other banks are planning for a slower expansion. U.S. Bank will open a new branch in West Linn by the beginning of 2012, and has 鈥渁 couple other things in the pipeline,鈥 said spokeswoman Teri Charest.
鈥淲e’re the biggest bank in Oregon, so one or two (new branches) is pretty significant,鈥 she said.
By the end of 2011, Umpqua Bank will have 12 new branches, which it calls 鈥渟tores,鈥 in markets between Portland and Seattle. Spokeswoman Eve Callahan said the company doesn’t have a target number for stores to open in 2012.
Smaller firm Union Bank acquired three Portland-metro branches in May 2010, when it bought Frontier Bank. Spokesman Alan Gulick said the firm has high expectations for growth in the market, but would not disclose whether there were specific plans.