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Charlotte's Banking Industry Getting New Player

U.S. Bank retail location rendering.
Courtesy U.S. Bank

The nation’s seventh largest bank is coming to Charlotte. U.S. Bank officials announced today that they plan to open the company’s first retail banking branch in the city by the end of the year.

U.S. Bank plans to open its new facility at 201 South Tryon Street, close to its corporate offices. According to a statement released by bank officials, U.S. Bank first entered the Charlotte market in 2006 through a Corporate Trust acquisition and then began building its corporate and commercial banking in 2008. Officials say there are already 800 U.S. Bank employees in Charlotte.

In a statement, Charlotte Mayor Vi Lyles said she is excited about the bank's expansion to Charlotte.

“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.”

U.S. Bank officials say they plan to open about 10 branch locations by the end of 2020. They are currently in the process of filing an application for expansion in North Carolina with the Office of the Comptroller of the Currency. North Carolina would be the 26th state where U.S. Bank has retail banking operations.