Bank of America continues expansion in Indianapolis market

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Bank of America's newest Indianapolis-area location opened in August, at 11530 Illinois St. in Carmel. (provided image)

Bank of America has opened a new banking center in Carmel, with plans to open three additional branches in the Indianapolis-area market by 2025.

The 4,000-square-foot facility at 11530 Illinois St., which includes a drive-thru, is a newly constructed building on an outparcel of Carmel’s Market District grocery store.

The branch, which opened Aug. 14, is the 19th Indianapolis-area banking center for Charlotte, North Carolina-based Bank of America. The bank opened its first Indianapolis location in November 2017.

Looking ahead, the bank also plans to open three more local branches by 2025: another in Carmel, its first in Avon, and one on the far-east side of Indianapolis.

Bank of America has identified the intersection of Washington Street and Mitthoeffer Road as the site of the Indianapolis branch, but declined to provide specifics on the Avon and Carmel locations.

Of Bank of America’s current area locations, 12 are full-service staffed branches. The other seven are what Bank of America calls advanced centers—high-tech sites where customers can interact with remote bank employees via video conferencing. Some of those advanced centers are staffed with on-site employees, but others are not.

The bank also has 10 standalone ATMs in the Indianapolis market.

Bank of America’s local plans are part of the company’s larger expansion goals nationwide.

In June, the bank announced it would open more than 55 new financial centers across 34 markets by the end of the year. It also said it plans to expand into nine new markets, including cities in four new states, by the end of 2026.

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