U.S. Bancorp could close up to 450 branches in the coming years as more of its customers use digital tools for transactions and rely on brick-and-mortar locations less.
CEO Andy Cecere said in an earnings call Wednesday that the bank expects to close somewhere between 10 to 15 percent of its roughly 3,050 branches systemwide.
Minneapolis-based U.S. Bank, like many banks, is cutting branches in response to demand. Earlier this month, Denver Business Journal reported the bank was closing 11 branches in Colorado. U.S. Bank is the second-largest bank by deposits in the Denver metro area, according to DBJ research.
U.S. Bank reported more than 30 percent of its loan sales were from digital tools for the three months ending in February. That's up 25 percent from the same period a year ago.
Read more at the Denver Business Journal | https://bit.ly/2Zl8rK1
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