JP Morgan Chase & Co. formally converted nearly 50 Washington Mutual branches in Connecticut to the Chase brand, along with 175 others in the tri-state region.
New York City-based JP Morgan acquired Seattle-based Washington Mutual in September 2008 and spent $140 million refurbishing the branches. The company completed its conversion of WaMu customer accounts in Connecticut, New York and New Jersey in July.
Prior to JP Morgan”™s acquisition, WaMu had been seized by federal regulators, who quickly acted to sell its assets last September.
As of June 2008, JP Morgan Chase had $3.8 billion in deposits in Fairfield County, while Washington Mutual had $248 million in deposits.
