The investment bank will offer retail services to individuals and small business customers in disadvantaged inner-city neighborhoods and rural towns.

JPMorgan Chase ( JPM -0.20%), the country's largest bank by assets, recently declared a third-quarter dividend of $1.25, a roughly 9% hike. Banks are generally known as good dividend-paying stocks, and JPMorgan Chase is one of the most profitable large banks. It has grown its payout significantly over the last decade.