The West Hollywood US Bank branch located at 8901 Santa Monica Boulevard is closing on May 26, 2023. US Bank has acquired Union Bank, which means employees will be moving to the Union Bank location down the street located about a seven-minute walk east, at 8631 Santa Monica Blvd (roughly 0.3 miles).
Employees say the northwest corner of Santa Monica Boulevard and San Vicente Boulevard has been serving as a bank for roughly 41 years in the city of West Hollywood. They believe that at one point it was Bank of Los Angeles in the early 80s. Then it became a Bank of Santa Monica before changing to US Bank.
A customer says he believes he’s been banking at US Bank for at least 35 years, but we have not yet been able to confirm when the branch opened in West Hollywood as of the posting of this piece.
We can can report that before it was a bank, the space was a West Holly Rexall Drugs pharmacy that shared a space with a Drugs Liquor store next door on San Vicente Boulevard and an Air Bail Bonds upstairs in the mid 1970s.
Back in December, 2022, US Bankcorp announced that it completed the acquisition of MUFG Union Bank’s core regional banking franchise from Mitsubishi UFJ Financial Group, Inc. (NYSE: MUFG). The transaction brings together two premier organizations to serve customers and communities across California, Washington, and Oregon and support a dedicated workforce across the West Coast. According to a press release, customers will benefit from an expanded branch network, greater access to digital banking tools, and increased choice.
“The acquisition of MUFG Union Bank underscores U.S. Bank’s commitment to creating economic opportunities for our customers and communities across the West Coast,” said Andy Cecere, chairman, president and chief executive officer of U.S. Bancorp. “The closing of this acquisition brings together two premier organizations and their teams who are focused on putting customers first.”
U.S. Bancorp projocted approximately 70,000 employees and $601 billion in assets as of September 30, 2022. It is the parent company of U.S. Bank National Association. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diversified mix of businesses: Consumer and Business Banking; Payment Services; Corporate & Commercial Banking; and Wealth Management and Investment Services. The company has been recognized for its approach to digital innovation, social responsibility, and customer service, including being named one of the 2022 World’s Most Ethical Companies and Fortune’s most admired super regional bank.
The closing of US Bank at San Vicente and Santa Monica brings to question the future of that soon to be open space. Will it be another bank? Will Heart WeHo expand to finally become a super mega club? Or will it remain empty for the next ten years? Tune in here to find out.
Editor’s note: This story was updated to reflect that US Bank is not closing US Banks and transferring to Union Banks. The West Hollywood location at 8901 Santa Monica is closing and the employees are moving to the Union Bank location nearby.
Clarification from article below “ US Banks are closing and transferring over to Union Banks. The West Hollywood US Bank branch located at 8901 Santa Monica Boulevard is closing on May 26, 2023. Accounts and employees are rolling over to the Union Bank located about a seven-minute walk east, at 8631 Santa Monica Blvd (roughly 0.3 miles).” This is misleading. Yes USBank will move to Union Bank as described but Union Bank branding will be gone Memorial Day and this site will be a USBank branded site. Accounts are NOT rolling over as we all stay with USBank so other… Read more »
It’s the other way around. Union bank is becoming US Bank
It shouldn’t take much to find out that the Bank of Los Angeles was founded by Sheldon Andelson in the 1980s and was the only gay-owned bank in the US. I think I’m right about that. I do remember the Bank of Los Angeles on that corner and CalFed Bank across the street where Rocco’s is now.
I looked at the Pacific Saw & Supply sign and it is about as big the old Rage and current Heart signs.Maybe the next name for the Heart space could be called The Circular. The railroad cross sign in the center divider looks out-of-place in front of the storefronts.I understand the rails there were part of the old Red Car system,shut down in 1962.I remember seeing parts of old rail embedded in the asphalt on Santa Monica Blvd. whenever I crossed the street at a crosswalk.This was around 1986. The nice looking center divider and wider sidewalks sure spiff things… Read more »
The last thing we need is another bar or club or the expansion of an existing. Let’s hope it becomes a restaurant or some other diversified commercial space.