U.S. Bank will close 13 branches in its purchase of Chicago-area Charter One locations.
The $315 million acquisition will close 10 Charter branches, including the Charter One on 810 S. Oak Park Avenue, and three U.S. Banks.
"As is the case with most acquisitions, the combination of our existing branch network with the Charter One branch network results in a small amount of overlap in a handful of communities," said U.S. Bank spokeswoman Nicole Garrison-Sprenger as reported by the Chicago Tribune.
The 10 Charter branches are set to close in June and the three U.S. Bank branches, a month later. The buyout will increase U.S. Bank's number of local branches to 160, up from 78.