Chase adds branches, mortgage officers

Chas has recently announced plans to add 80 additional branches in California as well additional mortgage officers in Texas and Illinois.  What does this all mean?  Adding branches doesn’t necessarily equate to better customer service, just a larger base for acquiring customers and increasing bank capital which is essential to a company like Chase that uses that capital not only as bank reserves but to make money in its investment banking operations.  As for hiring more mortgage officers, Chase claims they are expecting a housing recovery, which seems at odds with the predictions of many top economists of additional housing price degradation in 2010 and an extended period of flat housing prices.

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