News Summary
U.S. Bank has increased its deposit market share in Ohio to 19.73%, amounting to approximately $111.51 billion. Despite this growth, it faces challenges with a decreasing number of branches, including the closure of its Brecksville location. The bank is adapting to trends in online banking while other local banks maintain a more significant physical presence in the state. Mayor Jerry Hruby acknowledges the impacts of the closure on the community, which has a long history as a banking site.
Columbus, Ohio – U.S. Bank has significantly strengthened its position in Ohio’s banking market, controlling a 19.73% share of deposits as of June 2025, an increase from 18.76% in 2024. This translates to approximately $111.51 billion in deposits within the state, representing 21% of the bank’s total company-wide deposits, which stand at around $523.49 billion.
The overall deposit market in Ohio has also seen growth, rising by 5.2% to roughly $565.32 billion in 2025. Following U.S. Bank, the next largest depositories in Ohio include Huntington Bank at 17%, KeyBank at 12.15%, Fifth Third Bank at 11.83%, and JPMorgan Chase Bank at 8.09%.
Despite leading the market share, U.S. Bank operates 161 branch locations in Ohio—fewer than many of its key competitors. In comparison, Huntington Bank has 343 branches, Fifth Third Bank has 245 branches, JPMorgan Chase has 231 branches, PNC Bank has 219 branches, and KeyBank utilizes 172 branches across the state.
Amid these developments, U.S. Bank has announced the closure of its Brecksville branch, located at the corner of Brecksville Road and Ohio 82, effective March 3. This decision follows a broader trend within the banking industry toward online and mobile banking services, leading U.S. Bank to previously project a closure of 10 to 15 percent of its branches nationwide, which equates to approximately 300 to 450 locations.
The closure of the Brecksville branch occurs shortly after Chase Bank opened a new branch right across the corner from it. U.S. Bank will still provide services to customers at its nearby Heinen’s branch after the Brecksville location is shut down. Mayor Jerry Hruby of Brecksville has acknowledged the disruption caused by the closure but expressed appreciation for U.S. Bank’s contributions to the community over the years.
The property that houses the Brecksville branch spans about 2,500 square feet and has a long-standing history as a banking location, originally serving as Broadview Savings and Loan since the 1940s. In light of the impending closure, the city of Brecksville is exploring redevelopment possibilities for the former Central Elementary School site, situated close to U.S. Bank’s location, with the aim of enhancing the area’s downtown appeal.
In another relevant financial note, the Cohen & Co. building in downtown Cleveland—formerly known as U.S. Bank Centre—is experiencing financial difficulties with ongoing foreclosure proceedings due to diminishing occupancy rates and overall financial headwinds.
U.S. Bank’s history in Ohio dates back to the establishment of the First National Bank of Cincinnati in July 1863. As it evolves amidst changing consumer banking preferences, the implications of branch closures and adjustments in physical presence continue to reflect broader trends in the banking sector.
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Additional Resources
- Crain’s Cleveland: U.S. Bank Dominates Ohio Market Share
- Wikipedia: Banking in the United States
- U.S. Bank: Food Truck Owner Grows Business
- Google Search: Banking Trends in Ohio
- Cleveland.com: U.S. Bank to Close Brecksville Branch
- Google Scholar: U.S. Bank Performance Ohio
- U.S. Bank: Air Force Veterans and Careers in Banking
- Encyclopedia Britannica: Bank Closures in America
- The Viking Age: U.S. Bank Stadium
- Google News: U.S. Bank Ohio Branch Closures
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CLEVELAND STAFF WRITER The CLEVELAND STAFF WRITER represents the seasoned team at HERECleveland.com, your premier source for actionable local news and information in Cleveland, Cuyahoga County, and beyond, delivering "news you can use" with in-depth coverage of product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news impacting the region—backed by years of expert reporting and robust community input, including local press releases and business updates, while providing top reporting on high-profile events like the Rock and Roll Hall of Fame inductions, Cleveland International Film Festival, and holiday parades, alongside key organizations such as the Cleveland Clinic, Cleveland Orchestra, and Great Lakes Science Center, plus leading businesses in manufacturing and healthcare like Sherwin-Williams and University Hospitals, and as part of the broader HERE network including HEREDayton.com, offering comprehensive, credible insights into Ohio's vibrant landscape. HERE Cleveland HERE Dayton
