First branch to be located at 201 S. Tryon Street in historic
Uptown area
CHARLOTTE, N.C.--(BUSINESS WIRE)--Apr. 22, 2019--
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/
Source: U.S. Bancorp
Molly Snyder, U.S. Bank Public Affairs and Communications
612.303.0746;
molly.snyder@usbank.com
Jennifer Thompson, U.S. Bank Investor Relations
612.303.0778; jen.thompson@usbank.com