US Bank Adding 7 New Branches in '05

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(Sacramento, CA)
Monday, January 24, 2005
U.S. Bank says it will add 7 new branches in the Sacramento region in 2005, mostly in Safeway stores. Wells Fargo had branches in Safeway stores until four years ago, when a partnership between the supermarket chain and a Canadian bank quickly came and went. The Minneapolis-based bank also hopes to add nine new traditional branches over the next few years … but these are four to five times more expensive to open than an in-store location. Statewide, U.S. Bank wants new 120 Safeway branches this year. U.S. Bank entered the Sacramento area 15 years ago. Through acquisition and other growth, it now ranks third in deposits, behind only Bank of America and Wells Fargo.