JPMorgan Chase acquired Bank One in 2004, expanding its consumer-banking presence across the United States.
JPMorgan Chase announced the all-stock transaction in January 2004, and the merger closed later that year. Bank One was headquartered in Chicago and had a large branch network, especially in the Midwest and Texas.
The combination strengthened JPMorgan Chase’s retail banking business and brought Jamie Dimon, Bank One’s chief executive, into the leadership of the enlarged company. Dimon became JPMorgan Chase’s chief executive in 2006 and later chairman.
This transaction is distinct from JPMorgan’s 2000 merger with Chase Manhattan, which is already associated with the creation of JPMorgan Chase. Bank One itself had been created through earlier bank combinations, including the 1998 merger of Bank One and First Chicago NBD.