U.S. Bank Adding Retail Banking to Charlotte Presence in 2019

by | Apr 30, 2019 | Financial

First branch to be located at 201 S. Tryon Street in historicUptown area

CHARLOTTE, N.C.–(BUSINESS WIRE)–Apr. 22, 2019–In fall 2019, U.S. Bank will expand its retail banking presence to a newstate with the opening of its first branch in Charlotte, N.C. Retailbanking expansion complements an already strong U.S. Bank presence in Charlotte, which is home to roughly 800 employees across severalbusiness areas, including Corporate & Commercial Banking, InvestmentServices, Risk & Compliance and Mortgage.

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 communityvibrancy and economic vitality. Charlotte is an exceptional market andwe expect to be a positive economic force there that helps individualsbuild strong financial futures and business owners reach their financialgoals 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, aswell as building a future generation of customers.”

The first branch will be located be at 201 S. Tryon Street in thehistoric Uptown area of Charlotte, located close to U.S. Bank’scorporate offices. U.S. Bank is currently planning to open approximately10 branch locations by the end of 2020. Charlotte represents the first U.S. Bank branch in North Carolina and will be the 26th statewhere the bank operates a retail banking presence.

The Tryon Street branch is expected to open in the fourth quarter of2019.

“Banking is the foundation on which Charlotte’s economic growth wasbuilt and we are excited to add another strong pillar to our city’sbanking community,” said Vi Lyles, Mayor of Charlotte. “U.S. Bank has asolid reputation and will be an asset to the financial landscape of theQueen City.”

New Markets, Core Markets Re-Investment, Digital Expansion

In addition to entering Charlotte, U.S. Bank is undertaking are-investment program in its existing core markets that will result inapproximately 60-80 new, re-located or re-designed branches by the endof 2020. In addition, U.S. Bank continues to explore future marketexpansion in states, such as Florida, Georgia and Texas, where it hasconcentrations of employees and customers through its national mortgage,auto and credit card programs.

To complement its physical location optimization and core marketre-investment programs, U.S. Bank continues to expand its digitalcapabilities. The bank recently launched a re-designed mobile app aimedat creating an industry-leading experience with more seamlessintegration for customers between in-branch and mobile banking,including personalized account notifications.

Welsh added: “Our strategy to open branches in Charlotte and re-investin our existing core markets is amplified by an enhanced portfolio ofdigital products and services. As consumer preferences and behaviorschange, we want to serve our customers when, where and how they prefer.Sometimes that means at a physical location and sometimes it means adigital solution. Our focus is to make banking easier and faster for ourcustomers in Charlotte and all our markets.”

Growing and Investing in Charlotte

U.S. Bank first entered the Charlotte market in 2006 through a CorporateTrust acquisition, and then began building its Corporate & CommercialBanking from scratch in 2008. Dee O’Dell, who in 2009 was one of thefirst Charlotte-based executives hired by U.S. Bank, has been named thecompany’s Consumer & Business Banking regional executive for the easternregion of the country and will now be part of the executive teamresponsible 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 tosee 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 haveinvested more than $2 million to improve the Charlotte community and ouremployees have contributed thousands of volunteer hours. As we introducethe entirety of U.S. Bank to the Charlotte market, we will also investmore to strengthen and fortify the Charlotte community.”

U.S. Bank has been engaged in the work of economic mobility and accessto opportunity that is guiding many important initiatives inCharlotte. Employees volunteer and serve in Board roles with dozens ofnon-profit organizations across the city, including United Way ofCentral Carolinas, YMCA of Greater Charlotte, Opera Carolina, CharlotteSymphony, Junior Achievement, Leading On Opportunity Council, and more. U.S. Bank is currently engaged with the Urban League of the CentralCarolinas to provide banking internships to high school students. Inaddition, U.S. Bank has provided tens of millions of dollars in taxcredits to a solar based energy client based in Charlotte, a part of thebank’s commitment to environmentally responsible businesses.

U.S. Bank was recently named to the Ethisphere Institute’s World’s MostEthical Companies list for the fifth consecutive year. U.S. Bank is thelargest 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 inassets as of March 31, 2019, is the parent company of U.S. Bank, thefifth-largest commercial bank in the United States. The Minneapolis-based bank blends its relationship teams, branches and ATMnetwork with mobile and online tools that allow customers to bank how,when and where they prefer. U.S. Bank is committed to serving itsmillions of retail, business, wealth management, payment, commercial andcorporate, and investment services customers across the country andaround the world as a trusted financial partner, a commitment recognizedby the Ethisphere Institute naming the bank a 2019 World’s Most EthicalCompany. Visit U.S. Bank at www.usbank.comor 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

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