Pierce Commercial Banks, the first commercial bank to open in China, announced it is planning to open a branch in Shanghai in 2019.
Pierce Commercial Bank has been operating its first two branches in China since 2010, and it has expanded its operations to a total of four branches.
The bank has more than $2 billion in assets and has been expanding its business model in China.
The first branch opened in Shanghai last September and the company says it will open branches in other cities in 2019 and 2020.
The bank is currently focused on expanding its service offerings to small businesses and is also in talks with banks to provide financing for its new business model.