Wells Fargo, the fourth-largest bank in the United States, is making a major move by closing 14 of its branches across 10 states, further reshaping the banking landscape that was already dramatically altered by the COVID-19 pandemic. In a world where online banking has surged in popularity, in-person visits to physical branches have dramatically declined, prompting many institutions to close shop in less bustling areas.
The closures are part of Wells Fargo’s strategy to adapt to a post-pandemic world. As digital banking has become the norm, fewer customers are making trips to brick-and-mortar branches, especially in less populated regions. This shift has made it harder for traditional banks to justify maintaining large numbers of physical locations.
Wells Fargo, with assets totaling a massive $1.7 trillion, operates over 4,000 branches nationwide. But despite being one of the country’s most prominent financial institutions, the bank has not been immune to the post-pandemic banking transformation. After dealing with a notorious scandal involving fake accounts and unrealistic sales goals, Wells Fargo has been working hard to rebuild its reputation and restructure its operations under CEO Charlie Scharf.
The recent decision to close 14 branches follows last year’s closure of 92 others, and it is part of a larger trend as the bank continues to streamline its services. While Wells Fargo saw a decline in average loans, it still posted a net income of $18.6 billion for 2024, signaling that its efforts to shift focus toward fees and reduce costs are working.
Here’s the full list of the 14 branches that will be closing:
- 321 University Drive, College Station, Texas
- 100 Nile Kinnick Dr, N. Adel, Iowa
- 1930 North Loop 1604 E, San Antonio, Texas
- 7928 Fort Hunt Road, Alexandria, Virginia
- 3901 E. Grant Rd, Tucson, Arizona
- 225 108th Avenue N.E., Bellevue, Washington
- 7801 Falls of Neuse Rd, Raleigh, North Carolina
- 1600 Montgomery Highway, Hoover, Alabama
- 590 Hunt Club Boulevard, Apopka, Florida
- 652 N. La Brea Avenue, Los Angeles, California
- One Main Street, George, Utah
- 2611 Cedar Springs Road, Dallas, Texas
- 687 S. Coast Highway 101, Suite 151, Encinitas, California
- 25100 F.M. 2100, Huffman, Texas
For many, the closure of these branches marks a shift in how they’ll interact with their bank moving forward. As more financial services go digital, this is likely just the beginning of a larger trend in the banking industry.
