PORTLAND — U.S. Bank plans to close 32 branches in Oregon, most in the Portland metro area, including three in Vancouver, Washington.
Nine Oregon branches outside the Portland area will close, including a branch in Elgin.
The bank, which was founded in Oregon and based in Portland until 1997, told The Oregonian last week that it will begin the process of closing more than 25% of its Portland metro area branches on Nov. 1.
The bank will close 26 branches in the Portland metro area. Nine branches will close in Portland, including one in downtown. The bank will also close two branches in Gresham, two in Hillsboro and one in Beaverton.
The bank will be laying off employees at the affected branches. Evan Lapiska, a spokesman for the company, said that U.S. Bank will not be commenting on the number of employees losing their jobs because many will be allowed to reapply for new roles within the company. Employees who are being laid off will have the option to remain in their current roles until January, even if their branch is closing before then.
U.S. Bank originally announced in 2019 that it would close 10% to 15% of its branches nationwide by 2021, but the company put a pause on the plan earlier this year due to the pandemic. Since, the company has seen a move to digital banking speed up, and Lapiska said it is likely that U.S. Bank will ultimately close more than 15% of its branches as the company responds to the economic impacts of COVID-19.