JPMorgan Chase will open 400 new branches in the United States, raise the hourly wage for a portion of its workforce, and add new jobs to its banks as part of a $20 billion investment program, the bank said yesterday.

The new branches will join the 5,130 Chase is already operating in the U.S., raising the amount of branches the bank has in the country by almost 8%. This increase in physical branches runs contrary to the efforts of other banks to close their branches, as digital banking becomes more popular in the country.

The investment program, which will take place over a five-year span, is also slated to add 4,000 new jobs, according to the bank.

Jamie Dimon, CEO for the bank, said in a statement yesterday:

Having a healthy, strong company allows us to make these long-term, sustainable investments. We are excited about further investing in our outstanding workforce and expanding into new U.S. markets. When we enter a community, we enter it with the full force of JPMorgan Chase behind it.

Chase, which cited new financial regulations and its own “strong and sustained business performance” as ways its investment program will be made possible, will also be increasing the hourly wage of certain employees at the bank: these 22,000 employees will receive a 10% increase on average in pay, ranging from $15 to $18 per hour.

Read more at JPMorgan Chase, CNBC, and Finextra.

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