A TRUSTED bank has followed the lead of Wells Fargo, permanently turning off the lights at seven branch sites before June hit – all in the same state.
The handful of US Bank branches got the axe earlier than expected amid a greater trend of bank closures spurred by the pandemic.
Banks have taken a major hit in recent years, closing down branches left and rightGetty GETTYUS Bank shut down seven spots in the same state earlier than expected[/caption]Banks play a central role in the US economy, but the institutions have taken a major hit in recent years.
In 2023, the country saw the greatest number of branch shutdowns since the 2008 recession due to several factors, including the rise of mobile banking as well as high inflation and interest rates.
The trend has continued into 2025, with roughly 336 bank branches closing their doors as of early May.
Included on that list was a wave of US Bank branches.
The trusted bank, with over 2,000 branches across 26 states and more than $27.5 billion in annual revenue, closed seven locations throughout April and May.
The closures came earlier than expected, with the bank announcing in February its plans to shutter the spots, all in Eastern Idaho, by June.
The round of closures took place across Malad, Montpelier, Preston, Blackfoot, Orofino, Wendell, and Mackay.
“Client’s banking preferences and behaviors are changing, including a rapid migration toward digital and mobile banking platforms, and a desire for greater simplicity,” US Bank regional communications manager Jake Holtrop told a local outlet.
“As we evolve along with our clients, we are reevaluating our physical footprint, and in some instances, consolidating branch locations in select markets.
“Although we are closing some branches, we continue to open and enhance others, as well as rapidly enhancing our digital capabilities.”
Customers of US Bank were informed of the shutdowns in early 2025, according to Holtrop.
“We understand that the closure of any branch is a disruption for our clients and our employees, and we are working to make the transition as smooth as possible for all involved,” he said.
The U.S. Sun reached out to US Bank for comment on the closures.
US Bank’s move to shutter the seven spots followed Wells Fargo, which saw 23 net branch closures in the first quarter of 2025.
BANKING BUST
Bank closures have been on the rise in recent years, with the pandemic exacerbating the worrying trend.
US Bank Closures
Malad – 25 E 50 S, Malad City, ID. Closure Date: 5/19/2025 Montpelier – 672 Washington St, Montpelier, ID. Closure Date: 4/17/2025 Preston – 1 S State St, Preston, ID. Closure Date: 4/23/2025 Blackfoot – 9 S Ash St, Blackfoot, ID. Closure Date: 4/30/2025 Orofino – 333 Michigan Ave, Orofino, ID. Closure Date: 4/30/2025 Wendell – 15 S Idaho St, Wendell, ID. Closure Date: 5/06/2025 Mackay – 202 South Main Street, Mackay, ID. Closure Date: 5/12/2025Source: Local News 8
Even though only one bank has failed so far in 2025 – the Pulaski Savings Bank in Chicago, Illinois – the trend of bank closures has persisted.
Hundreds of bank branches have already closed down this year, with many spots expected to face the same fate.
The first quarter saw 148 net branch closures, a notable increase from the 21 during the fourth quarter of 2024, per S&P Global Market Intelligence data.
US Bancorp, the parent company of US Bank, topped the list with 50 net branch closures in the first quarter.
Wells Fargo saw the second most number of net closures, at 23 branches.
Banks are not the only institution feeling the pressure in the modern economic landscape.
Retailers and restaurants are likewise conducting mass closures due to factors such as changing consumer behavior, rising costs, and increased competition.
For example, Dollar General and Big Lots are among the discount stores closing 291 locations in shock moves dominating shutdown in 2025.
Meanwhile, Jack In the Box, Applebee’s, and Denny’s are closing spots left and right in 2025 as restaurants struggle to stay afloat.
GettyWells Fargo experienced the second most net closures in the first quarter of 2025, with 23 branches permanently shutting their doors[/caption]US braces for '45,000 store closures'
Some 45,000 bricks-and-mortar stores could close in the next five years, experts have warned.
Several major retailers have announced store closures or gone out of business altogether in recent years.
In 2023, chains such as Foot Locker announced plans to close up to 400 outlets by 2026.
While, other well-known retailers like Tuesday Morning and Mitchell Gold + Bob Williams filed for bankruptcy in 2023.
Bed Bath & Beyond has closed all of its brick-and-mortar stores and is now an online-only retailer.
The most affected retailers have been clothing, consumer electronics, sporting goods, hobby, book, music, and home furnishing stores since the start of 2019.
UBS has predicted the total number of retail stores will drop by 45k from 958k to 913k.
Despite that, the report says that certain stores should thrive while others decline.
It said retailers such as Walmart, Costco, Home Depot, and Target, could be among the winners.
Restaurant closures in 2025
Denny’s – Denny’s has confirmed that up to 150 locations are set to close in the US by the end of the year as many of them are no longer profitable.
Red Lobster – The chain has said that it plans to close over 100 stores across the country this year as new CEO Damola Adamolekun takes over.
TGI Friday’s – TGI Friday’s is still being forced to shutter locations thanks to a bankruptcy filing, including 30 in April alone.
Applebee’s – This chain is projecting a loss of 20 to 35 Applebee’s spots in 2025 but is teaming up with IHOP to introduce dual-branded locations with a curated menu of the two’s best items.
Noodles & Company – This emporium is set to close between 17 and 21 locations in 2025 following a difficult 2024.
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