Unexpected Wells Fargo branches in California are now closing for 2024 according to fresh data from the Office of the Comptroller of the Currency (OCC).
“The current Office of the Comptroller of the Currency (OCC) bulletin has been published, and several national Wells Fargo Bank branches are included therein as permanently closing next year, including there major branches in the state of California,” reports Joel Eisenberg.
Bank branches in California, but especially Wells Fargo have been shuttering all year.
Below are 7 Wells Fargo branches that have permanently closed in California this year:
- 116 Sunset Dr, San Ramon
- 103 East Stetson Ave, Hemet
- 1565 East Highland, San Bernardino
- 118 E. Carillo St, Santa Barbara
- 1071 El Camino Real, Redwood City
- 303 N. El Dorado St, Stockton
- 42420 Washington Ave, Bermuda Dunes
The following 2 Wells Fargo branches are scheduled to close in November per the OCC:
- 8405 North Fresno St, Suite 300, Fresno;
- 10011 Washington Blvd, Culver City
As of the latest data, there are currently no Wells Fargo branches scheduled to shutter during the month of December.
Below are the Wells Fargo branches in California expected to close in 2024:
- 450 South Ventura Road, Oxnard
- 3360 San Pablo Dam Road, San Pablo
- 18010 Chatsworth Street, Granada Hills
According to BankBranchLocator, Wells Fargo Bank currently operates with 4,598 branches located in 37 states.
The bank has most branches in California, Texas, Florida, New Jersey and North Carolina.
The branch at 333 Market St. in San Francisco, which included a flashy digital display within the branch that could be seen by those passing by, has temporarily closed this year until 2024.
Other Banking News Today
Massive banks in Texas now announce closures for 2024 according to fresh data from the Office of the Comptroller of the Currency (OCC).
According to the OCC’s current weekly bulletin listing, the following Texas bank branches are permanently closing in 2024:
Wells Fargo 11152 S. Gessner Drive, Houston.
Bank of America 2601 Preston Road, Frisco; 13350 Dallas Pkwy, Dallas.
Capital One 2301 E. Riverside Drive, Austin; 2910 S. Lakeline Blvd., Cedar Park.
“No specific dates of closure have yet been listed, and it should be noted more Texas branch closures are expected to be announced in upcoming OCC bulletins,” reports Joel Eisenberg.
“The popularity of digital banking, inclusive of electronic payments and direct deposits, continues to be widely acknowledged by industry analysts as the primary factor in this regard.”
Wells Fargo CEO Charlie Scharf recently rose attention during the company’s earnings call stating: “This company is not efficient – like, period. End of story.
Even with all of the reductions that we’ve made, it’s not surprising because as you peel the onion back, other things present themselves.”
Banks have stated that job cuts have also played an important role to weather strong recession conditions in 2024.
But Texas is not the only state facing mass bank closures.
Wells Fargo revealed last Friday that several branches would be closing in Arizona, Georgia, Iowa, Florida, Texas, and Alabama.
California also continues to be heavily affected, with both large and regional bank branches permanently shuttering this year.
According to data from the Federal Deposit Insurance Corporation (FDIC), approximately 8,000 banks were in operation in 2000, but by 2022, this figure was halved.
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