U.S. Bank closes 8 LV grocery store branches

Phil Levine

Wednesday, April 19, 2000 | 10:52 a.m.

Quarterly profit

U.S. Bank owner U.S. Bancorp of Minneapolis reported a 3.3 percent increase in first quarter net income to $379 million or 51 cents per share thanks to improved investment banking, brokerage and credit card revenues.

But its operating results were 52 cents a share, or $387.6 million, a penny shy of Wall Street expectations.

U.S. Bank closed eight of its 16 in-store branches in Raley's supermarkets in Metro Las Vegas.

Company spokeswoman Dotti Loader said the bank is reallocating its resources, and plans to open two new traditional bank branches in the Valley later this year. There are no plans to close the remaining Raley's branches.

Loader said customers were notified of the closures and their accounts were transferred to other nearby U.S. Bank offices. Existing ATM machines and kiosks will continue to operate at the sites of the former branches.

Raley's spokeswoman Carolyn White said the grocery chain had no immediate plans to replace U.S. Bank in its Las Vegas stores.

The Raley's stores affected by the closures are at Tropicana and Eastern avenues; Rainbow Avenue and Westcliff Drive; Eastern and Sahara avenues; Lake Mead and Nellis boulevards; Flamingo Road and Jones Boulevard; Vegas Drive and Jones Boulevard; Sahara Avenue and Valley View Boulevard; and Green Valley Parkway and Warm Springs Road.

Loader said there were no layoffs, and 20 bank employees were reassigned to new positions following the branch closures.

Later this year, U.S. Bank plans to open a branch near the Anthem Country Club development in Henderson, and a second office at the Peccole Ranch development in Summerlin.

U.S. Bank currently operates 13 full-service offices and eight in-store branches in Southern Nevada.