U.S. Bank is opening a branch office in East Village at 801 Market Street, near a planned $400 million development that would include a Ritz Carlton hotel and a Whole Foods grocery store.

The Minneapolis-based bank, the fifth largest in the nation, said the branch is a relocation of its branch in Little Italy, which is closing Aug. 17. The branch is moving because the building it is in in Little Italy is being sold, according to the bank.

Doors at the East Village branch will open Aug. 20.

The branch will feature an "educational environment" where visitors can test some of the bank's digital offerings, such as Zelle, which facilitates peer-to-peer money transfer, and Financial IQ, a site with answers to financial questions and voice interaction tools for checking balances or paying bills using smartphones, the bank said.

It will also have a community room, available for booking by local groups, the bank said.

Reach reporter Sarah de Crescenzo at sarahd@sdbj.com.