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Customers of US Bank have been informed that a significant branch is closing following numerous closures by other banks.
A sign posted on the door of the long-established branch confirmed that it would close for good, effective immediately.
Historic US Bank Branch Closes After 124 Years
The US Bank branch in downtown Roseburg, Oregon, has permanently closed its doors, with its final day of operation on April 29. This announcement was made by a sign at the branch and reported by CBS affiliate KPIC.
Customers needing bank services are advised to contact the bank at (888) 713-9299 to find the nearest branch.
The Roseburg branch has been a fixture in the community for 124 years, as US Bank regional communications manager Jake Holtrop shared with local news radio KQEN. Licensed in 1900, the building initially served as a fire station and was notably involved in a significant explosion and fire in 1959.
In February, US Bank issued a statement explaining the closure was part of a reevaluation of their physical presence due to shifts towards mobile banking and changing customer habits. This strategy involves consolidating branches as needed.
Although Holtrop did not specify how many employees would be affected, he mentioned that privacy concerns prevented disclosure of the exact numbers being transferred to other locations.
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He confirmed that the building would be put up for sale and the ATM removed, marking the end of an era for the historic site.
The bank's website states that following the closure of the US Bank branch in downtown Roseburg, Oregon, customers are being redirected to the Garden Valley Branch as the nearest alternative.
This closure is part of a broader trend of bank consolidations in Oregon, with US Bank and other financial institutions shutting down multiple branches across the state earlier this month.
Over 30 US Bank Branches to Shut Down
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According to a recent report by The U.S. Sun, at least 36 bank branches across various states are set to close. This includes branches from major financial institutions such as Wells Fargo, TD Bank, JPMorgan Chase, Capital One, and Citibank.
The Office of the Comptroller of the Currency (OCC) confirmed these closures, highlighting a significant reduction in physical banking locations.
TD Bank will see the most substantial impact, with 20 of its branches in the Northeast slated to close. The closures will affect locations in states like Vermont, New York, Maine, Philadelphia, and South Carolina, among others.
Wells Fargo is also reducing its footprint, with eight branches closing in states including California, Nevada, Georgia, Florida, and North Carolina.
Other banks such as Citibank, Liberty Bank, and Capital One are experiencing similar cutbacks with closures scattered across the United States.
Earlier this year, Bank of America announced its plan to close at least 50 branches, signaling a continued trend towards fewer brick-and-mortar banking facilities.
Over the past ten years, the number of US bank branches has decreased significantly, falling nearly 20 percent from approximately 85,000 in 2014 to under 70,000 today, data from the FDIC and OCC shows.
The pandemic hastened the shift towards online banking, which has persisted even after the initial outbreak; according to a 2023 analysis by the DailyMail website, over 1,500 branches closed last year alone.
This downsizing trend has impacted nearly every central US bank, with Chase being a notable exception, continuing to maintain its branch network.
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