Building Chase

Banks may be struggling to make money in Florida, but JPMorgan Chase is racing to build more branches in the state.

From Pasco to Collier, Chase has spent $160 million this year to build new branches, and it now has a total of 64 in the eight-county region. Bank officials say they plan to exceed this year's construction budget in 2012, declining to be more specific.

“It's the fourth-largest state, it's a state where we had no presence and it's an important place to be,” says Mel Martinez, the former U.S. senator from Florida who is now chairman of JPMorgan Chase for Florida, Mexico, Central America and the Caribbean.