‘A very meaningful player’: How U.S. Bank is forging ahead with its retail expansion in Charlotte

CHARLOTTE, N.C. — U.S. Bancorp is moving ahead with its retail expansion into Charlotte, steadily adding locations despite delays in its original timeline.

Minneapolis-based U.S. Bank will open two branches here in less than a year, including a new flagship operation in SouthPark. That 4,964-square-foot branch will be at 4525 Sharon Road and its largest one in the market. U.S. Bank is leasing the ground floor of the four-story building, which formerly housed Wells Fargo & Co., and plans to make significant changes.

The SouthPark location is scheduled to open in the spring, said Dee O’Dell, east regional executive for consumer and business banking.

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Earlier this summer, U.S. Bank filed an application with regulators to open a branch at 9836 Rea Road in Blakeney. That 4,263-square-foot location, a former SunTrust space, is scheduled to open in October, O’Dell said.

The new branches will offer consumer and business banking, wealth management and mortgage services.

So far, U.S. Bank has focused its branch openings in south Charlotte, after opening its first location in uptown in late 2019. A second branch opened in Pineville about a year later. O’Dell said the bank is looking to expand into other portions of the metro area. He said the goal is to build a local network out to 10 branches over the next couple of years or so, although there is no specific timeline. Pre-pandemic, U.S. Bank had hoped to reach that number by the end of 2020.

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