After 33 Years in Downtown Rochester, Bank Branch Is Closing
Long Time Downtown Rochester Bank Closing In January
Their 33rd year will be the last for the U.S. Bank Branch in the U.S.Bank Building in Downtown Rochester, Minnesota.
Why Is the U.S. Bank Branch In the U.S. Bank Building Closing?
According to a letter that went out to their customers, the bank is evolving.
"As we evolve along with our customers, we are reevaluating our physical footprint and, in some instances, consolidating branch locations in select markets."
Rochester, Minnesota is one of those select markets. The branch at 115 1st Avenue SW will close on January 17, 2023. Meanwhile, the U.S. Bank branch at 402 1st Avenue SW will remain open.
Will People Lose Jobs with U.S. Bank Closing Their Branch?
There's no word on that, And since we don't know the actual number of people employed at the branch and in the building, if they don't announce it, we won't know.
Is It Because Mayo Took 5,000 Employees Out of Downtown Rochester?
In a 2006 Post Bulletin interview, U.S. Bank said,
"US Bank obviously has a pretty large investment in the downtown…There are a large number of people who work downtown and a large number of professionals...There are a number of accountants and attorneys who conduct their business downtown, and it's very convenient to carry on business with those folks."
The Med City's downtown employee population has changed. There's no official word (beyond the general statements in the letter) on why they're closing the branch, but 5,000 fewer employees at Mayo might be part of the reason. It was mentioned by Newt's as a reason for closing their downtown location.
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As always, if you have a comment, complaint, or concern about something I wrote here, please let me know: james.rabe@townsquaremedia.com
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