Montavilla’s closest U.S. Bank branch is closing as part of a statewide reduction. Located at 6701 NE Glisan Street, the 1962 era branch is just outside the boundary of Montavilla. It, along with 26 other Portland branches, will close permanently on November 1st.

The Oregonian published the complete list of closures yesterday, announcing employees at those locations would lose their jobs. Many terminated employees are allowed to reapply for new roles within the company. This round of closures is a relatively large number for the Portland founded banking giant.

Safe deposit customers at this location have until December 1st to retrieve their items. Customers should call 888-713-9299 to arrange access to the safe deposit items.

United States National Bank Of Oregon owns the building on NE Glisan. It is unknown if the bank will sell the property. However, other recently closed U.S. Bank locations have sold after closing. The former branch at 3233 N Lombard Street sold this summer for $1,035,000.

The NE Glisan property spans the block’s entire width between NE 67th Ave and NE 68th Ave. Attached to this property are two full-sized residential lots fronted on NE 68th Ave. They currently provide parking for the bank. This property would be an ideal location for a multistory apartment building with some ground-floor retail. It is high on the Glisan hill, potentially providing excellent views on the upper floors. The site is adjacent to a Fred Meyer grocery store and walking distance from a Max station.

U.S. Bank customers that used this branch should consider visiting the location at 10220 SE Washington Street. Montavilla has very few banks in the area. However, the nature of banking has changed recently, thanks to technology making app-based banking more accessible. With some luck, this location will soon become a beneficial space for the community again.