First branch to be located at 201 S. Tryon
Street in historic Uptown area
In fall 2019, U.S. Bank will expand its retail banking presence
to a new state with the opening of its first branch in Charlotte,
N.C. Retail banking expansion complements an already strong U.S.
Bank presence in Charlotte, which is home to roughly 800 employees
across several business areas, including Corporate & Commercial
Banking, Investment Services, Risk & Compliance and
Mortgage.
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Artistic rendering of first U.S. Bank
branch in Charlotte, NC opening in fall 2019 at 201 S. Tryon
Street. (Graphic: Business Wire)
U.S. Bank is in the process of filing its application for
expansion in North Carolina with the Office of the Comptroller of
the Currency.
“U.S. Bank operates across the country with a commitment to
community vibrancy and economic vitality. Charlotte is an
exceptional market and we expect to be a positive economic force
there that helps individuals build strong financial futures and
business owners reach their financial goals and objectives,” said
Tim Welsh, vice chairman, Consumer & Business Banking. “We
already have tens of thousands of customers in the Charlotte market
and we look forward to deepening those connections, as well as
building a future generation of customers.”
The first branch will be located be at 201 S. Tryon Street in
the historic Uptown area of Charlotte, located close to U.S. Bank’s
corporate offices. U.S. Bank is currently planning to open
approximately 10 branch locations by the end of 2020. Charlotte
represents the first U.S. Bank branch in North Carolina and will be
the 26th state where the bank operates a retail banking
presence.
The Tryon Street branch is expected to open in the fourth
quarter of 2019.
“Banking is the foundation on which Charlotte’s economic growth
was built and we are excited to add another strong pillar to our
city’s banking community,” said Vi Lyles, Mayor of Charlotte. “U.S.
Bank has a solid reputation and will be an asset to the financial
landscape of the Queen City.”
New Markets, Core Markets Re-Investment, Digital
Expansion
In addition to entering Charlotte, U.S. Bank is undertaking a
re-investment program in its existing core markets that will result
in approximately 60-80 new, re-located or re-designed branches by
the end of 2020. In addition, U.S. Bank continues to explore future
market expansion in states, such as Florida, Georgia and Texas,
where it has concentrations of employees and customers through its
national mortgage, auto and credit card programs.
To complement its physical location optimization and core market
re-investment programs, U.S. Bank continues to expand its digital
capabilities. The bank recently launched a re-designed mobile app
aimed at creating an industry-leading experience with more seamless
integration for customers between in-branch and mobile banking,
including personalized account notifications.
Welsh added: “Our strategy to open branches in Charlotte and
re-invest in our existing core markets is amplified by an enhanced
portfolio of digital products and services. As consumer preferences
and behaviors change, we want to serve our customers when, where
and how they prefer. Sometimes that means at a physical location
and sometimes it means a digital solution. Our focus is to make
banking easier and faster for our customers in Charlotte and all
our markets.”
Growing and Investing in Charlotte
U.S. Bank first entered the Charlotte market in 2006 through a
Corporate Trust acquisition, and then began building its Corporate
& Commercial Banking from scratch in 2008. Dee O’Dell, who in
2009 was one of the first Charlotte-based executives hired by U.S.
Bank, has been named the company’s Consumer & Business Banking
regional executive for the eastern region of the country and will
now be part of the executive team responsible for the Charlotte
retail banking presence. Previously, O’Dell was a group head for
the company’s corporate banking unit.
“It’s a proud moment for my fellow Charlotte-based colleagues
and me to see our city selected as a growth market for U.S. Bank’s
retail bank,” said O’Dell. “Over the last 10 years, U.S. Bank and
its employees have invested more than $2 million to improve the
Charlotte community and our employees have contributed thousands of
volunteer hours. As we introduce the entirety of U.S. Bank to the
Charlotte market, we will also invest more to strengthen and
fortify the Charlotte community.”
U.S. Bank has been engaged in the work of economic mobility and
access to opportunity that is guiding many important initiatives in
Charlotte. Employees volunteer and serve in Board roles with
dozens of non-profit organizations across the city, including
United Way of Central Carolinas, YMCA of Greater Charlotte, Opera
Carolina, Charlotte Symphony, Junior Achievement, Leading On
Opportunity Council, and more. U.S. Bank is currently engaged with
the Urban League of the Central Carolinas to provide banking
internships to high school students. In addition, U.S. Bank has
provided tens of millions of dollars in tax credits to a solar
based energy client based in Charlotte, a part of the bank’s
commitment to environmentally responsible businesses.
U.S. Bank was recently named to the Ethisphere Institute’s
World’s Most Ethical Companies list for the fifth consecutive year.
U.S. Bank is the largest U.S.-based bank to ever make the list.
About U.S. Bank
U.S. Bancorp (NYSE: USB), with 74,000 employees and $476 billion
in assets as of March 31, 2019, is the parent company of U.S. Bank,
the fifth-largest commercial bank in the United States. The
Minneapolis-based bank blends its relationship teams, branches and
ATM network with mobile and online tools that allow customers to
bank how, when and where they prefer. U.S. Bank is committed to
serving its millions of retail, business, wealth management,
payment, commercial and corporate, and investment services
customers across the country and around the world as a trusted
financial partner, a commitment recognized by the Ethisphere
Institute naming the bank a 2019 World’s Most Ethical Company.
Visit U.S. Bank at www.usbank.com or follow on social media to stay
up to date with company news.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190422005375/en/
Molly Snyder, U.S. Bank Public Affairs and
Communications612.303.0746; molly.snyder@usbank.com
Jennifer Thompson, U.S. Bank Investor Relations612.303.0778;
jen.thompson@usbank.com
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