Sawgrass to be site of $3.5M Chase branch, latest in bank’s aggressive expansion (Courtesy of the Jacksonville Business Journal) — Chase Bank is growing its Ponte Vedra Beach presence with a multi-million-dollar branch slated for its Sawgrass neighborhood.
St. Johns County issued a $3.465 million permit to Marand Builders Inc. on behalf of Chase Bank for a first floor buildout Tuesday.
It will be located at 1000 Sawgrass Village Dr., Suite 100, and span 8,074 square feet, per county documents.
The investment is the latest piece slotting right into Chase’s bold plans for Jacksonville, a region the bank’s leaders earlier this year told the Business Journal it sees immense opportunity in.
“Jacksonville was actually the first new market we ever put a branch in, because I wanted to test ‘can you go to a new market and build a profitable thing’,” said Chase CEO Jamie Dimon in an interview last year. “And that branch is now 20, that 20 is going to 30.”
The New York-based bank is more than a third-of-the-way through its plan to expand its local presence by 50%, as announced in Jan. 2024.
As of February this year, it had 24 already open and more on the way. That month, the Chase workers cut the ribbon on its then-latest location in the College Park neighborhood of Arlington.
Chase had approximately $2.06 billion in area deposits as of the second quarter of 2024, according to the latest FDIC data.