JPMorgan Chase & Co.’s acquisition of the failed Washington Mutual thrift will give the combined company a clear lead as Tarrant County’s biggest bank but also threatens hundreds of jobs in overlapping operations.
Chase was already the county’s leader in deposits and branches as of last year, according to the FDIC. It also has more than 4,000 local employees, including about 1,800 at a document-processing center just south of Dallas/Fort Worth Airport and 450 at a south Arlington call center that handles consumer accounts.
"There isn’t any question there will be consolidation," said Scott Macdonald, head of the Southwest Graduate School of Banking at Southern Methodist University in Dallas. "I’d say they want good coverage in areas of growth, but you definitely don’t need to be within a few blocks of another branch."
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