U.S. Bank closing five branches in region

U.S. Bank is closing five branches in the Boulder Valley and Northern Colorado, including three branches located within Safeway stores.

The Minneapolis-based bank applied with the Office of the Comptroller of the Currency to close the branches. Two applications were filed in 2018, with three additional applications in early 2019. Branches to be closed include:

• 2160 W. Drake Road, Unit 6 (Safeway branch), Fort Collins.
• 3602 W. 144th Ave. (Safeway branch), Broomfield.
• 980 W. Dillon Road, Louisville.
• 1630 Pace St. (Safeway branch), Longmont.
• 2550 Broadway, Boulder.

Evan Lapiska, vice president of public affairs and corporate communications for U.S. Bank, said in a prepared statement, “U.S. Bank takes the closure of a branch very seriously. We take many factors into consideration when making the decision, including how the branch is used and the location of other branches. In these instances, the demand for services at the respective branches necessitated a change in our approach. We hope to continue serving the community through our other locations throughout the region.”

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Lapiska did not disclose whether other U.S. Bank locations could be eliminated, but a recent report by S&P Global identified U.S. Bank as having the most in-store branch locations in the nation, with 708, with 150 of them in Safeway stores.

U.S. Bank has recorded net closings of 29 locations of in-store branches since June 30, 2017, S&P Global reports. The report noted that in-store branch locations for all banks are being closed at a faster pace than stand-alone locations nationwide.