SAN JOSE -- Chase Bank has opened its 1,000 branch in California by launching a bank outlet in central San Jose.
The branch is at 2436 Almaden Road near the corner of Almaden Expressway, south of the city's downtown district.
"In three years, we've gone from not being in California at all to being the second largest bank in the state," said Ryan McInerney, CEO of Consumer Banking with Chase.
However, Chase's the market share of deposits in the Bay Area is far smaller than the bank's big rivals, leaving it well behind other financial firms, federal regulators report.
Bank of America is No. 1 in the Bay Area, with a 37.9 percent share of deposits, Wells Fargo is No. 2, with 20 percent, Citibank is No. 3 with 6.3 percent, Chase is No. 4 with 4.5 percent and Silicon Valley Bank is No. 5 with 4.2 percent.
"We now serve 15 million Californians and we feel like this is home to us," McInerney said.
Chase has opened nearly 300 new branches in California in the past four years. The bank's growth has created 7,800 new jobs. The bank now employs nearly 21,000 California residents.
The bank intends to open eight to 10 new branches in the South Bay, East Bay and Peninsula regions, with most of the new branches planned for Santa Clara County.
"We plan to expand fairly aggressively in the Silicon Valley market in 2013," said Eileen Leveckis, a Chase spokeswoman.
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