Chase opens bank in highly competitive Portsmouth

PORTSMOUTH – Chase is the latest institution to open a bank in the city, host to more than a third of all the banks doing business in the state of New Hampshire.

Chase’s Portsmouth bank — the fourth in the Granite State in recent months — opened in June at 1574 Woodbury Ave., part of a shopping plaza that includes the new Whole Foods grocery store.

“We’ve long viewed Portsmouth as a place we wanted to be,” said Laura Cortese, Chase’s market director for New Hampshire, Vermont and Maine. “We look forward to building new relationships and helping our customers during life’s most important moments, like opening their first savings account, buying their first home or planning for retirement.”

Chase becomes the 17th bank in Portsmouth. With branches, that increases to 25 bank locations in the city (and that number does not include credit unions). That 17 represents 38.6% of the 44 banks currently doing business in the Granite State, according to the database of FDIC-insured banks.

Gerald Little, bank commissioner of the N.H. Banking Department, cites the state’s “vibrant” economy as a reason why so many banks are coming here, particularly institutions from out of state.

Laura Cortese, left, Chase’s market director for New Hampshire, Vermont and Maine, and Jonathan Lakaszcyck, right, the Portsmouth branch manager, stand at the Chase bank octagon logo at the new bank on Woodbury Avenue.

“When the department has the opportunity to ask out-of-state bankers what attracted them to New Hampshire, it becomes apparent that they consider New Hampshire’s economy to be particularly vibrant and, in their opinions, able to support additional competition,” said Little. “In short, they see opportunity to expand their existing market area.”

In recognizing the competitive market here, Cortese said what will stand out about Chase is its people.

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