Wells Fargo is in the midst of closing many of its bank branches across the country – including its branch in downtown Davenport.
The Wells Fargo bank branch at 104 W. Second St., Suite 1A, Davenport, is scheduled to close, according to a notice filed with the U.S. Office of the Comptroller of the Currency (OCC). (See that notice here.)
That notice was filed in November, and the bank branch is scheduled to close today, Feb. 21.
The closure of the downtown Davenport bank is just one of several of the company’s branch closures across the nation. The Wells Fargo branch is located in the Parker Building at the corner of Brady and East Second streets.
Signs on the branch’s window states it will permanently close at 11 a.m., Feb. 21. “It’s been our pleasure to serve you,” the sign states. The signs also direct customers to visit the Wells Fargo branches at 2626 Hickory Grove Road and 5309 N. Brady St., Davenport.
“While it’s unfortunate to see a national trend with banks impact us locally, this provides an incredible opportunity for a new business to locate in the heart of downtown. The historic Parker Building has been recently renovated and features beautiful finishes and huge windows that provide phenomenal visibility at the corner Second and Brady streets,” said Kyle Carter, executive director of the DDP, in an emailed message to the QCBJ on Tuesday. “DDP (Downtown Davenport Partnership) will be assisting our friends in the real estate sector find a great fit for this unique downtown opportunity.”
According to an OCC bulletin in late January, Wells Fargo closed a dozen locations on Jan. 24. Three branches in California closed permanently, including locations in San Francisco, Redwood City, and Torrance. Florida lost four branches on the same day, in Hallandale, Plantation, Lakeland and Naples. And three locations closed in Texas, in Hurst, Austin, and San Antonio. Individual Wells Fargo branches also closed in Pennsylvania and Virginia — in Harrisburg and Williamsburg, respectively.
When contacted by the QCBJ, Wells Fargo officials said they could not comment on the Davenport branch closing. However, a bank official did say the overall branch closures situation is the bank keeping up with changing times.
“Branches continue to play an important role in the way we serve our customers in combination with our online and mobile channels and ATMs,” Amy Amirault, vice president of consumer, small and business banking communications for Wells Fargo, said in a statement to the online news site Best Life. “As customer preferences and transaction patterns change, so will our branches. Over the last several years, we have right-sized our branch network, and we may continue to combine two older existing branches into one better situated location. Doing so does not take away the importance of our customers and the communities we serve.”
FDIC data shows that Wells Fargo had 6,272 branches nationwide as of June 30, 2013. Ten years later, the number of branches dropped to 4,543.
San Francisco-based Wells Fargo is the fourth largest bank in the U.S. with more than $1.7 trillion in assets, according to the FDIC.
