US Bank to close Valley locations

Staff report

YOUNGSTOWN

U.S. Bancorp’s Mahoning Valley presence ends one week from today at 2 p.m., the company said Thursday.

The Minnesota-based bank, the sixth-largest in the country, will close its nine locations inside area Giant Eagle stores next Friday.

The bank has locations in Boardman, Canfield, Howland, Newton Falls, Niles, Poland, Youngstown and two in Warren.

ATMs in all nine locations will remain intact. The bank also offers many of its services online.

The company said that because of an exclusivity deal signed last fall between Giant Eagle and Huntington Bancshares, Inc., U.S. Bank could not renew its leases.

The representative said the company looked for other store partners and explored the possibility of opening separate branch locations but “did not see enough out there,” which led to the decision to leave the market.

There are about 40 people working at the nine area locations, and all will have opportunities to find new work within the company.

According to the most recent annual FDIC deposit and market-share report, the bank owned a 0.61 percent market share in the Valley, putting it 16th among 19 institutions in the region.

The bank’s first area location opened in 1997.