Wells Fargo closing another location after shutting 5 branches in same city as bank makes confession

WELLS Fargo is shutting down another branch after five others in the same area.

Some customers will be forced to head elsewhere for their banking needs in the New Year.

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In Hickory, North Carolina, about 55 miles northwest of Charlotte, Wells Fargo will close a staple branch for good on January 22, 2025, per a filing with the Office of the Comptroller of the Currency.

While the closure is likely a shock for residents, Wells Fargo has emphasized that it continues to update and invest in its branch footprint nationwide, with necessary shutdowns as it refurbishes and opens new locations.

Additionally, it confessed that the move toward online banking operations continues to grow in popularity for Americans, meaning less foot traffic in physical branch locations for Wells Fargo and many financial institutions.

“Branches continue to play an important role in how we serve our customers in combination with our mobile app, online website, and ATMs,” a Wells Fargo spokesperson said while speaking to Charlotte Business Journal about the Hickory branch closure.

“We are actively investing in our branch network by opening new locations and refurbishing our entire network.”

“While we continue to optimize our branch footprint, we are doing so with as little net impact as possible to our customers and the communities we serve,” the spokesperson emphasized.

Those who frequented the Hickory location can still get their banking needs at another Wells Fargo about one mile down the road that is not shutting down.

Even though Wells Fargo has noted its intent to prevent as many closures as possible as it adjusts its branch footprint, at least four other locations have been axed in and around the Charlotte area recently.

CONTINUED PATTERN

Earlier in autumn, two on the southeast side of the city shuttered.

Before that, in June, two in the southwest portion closed their doors for good.

A fifth Wells Fargo branch on the east side of Charlotte ceased operations in February, aside from ATM services, which are still available.

The move to digital banking tools and operations only increased after the height of the coronavirus pandemic in 2020.

In 2024, Wells Fargo closed more than 17 locations across 12 states — including Arizona, California, Connecticut, Florida, Illinois, Minnesota, Mississippi, New Jersey, North Carolina, Ohio, Texas, and Washington.

It certainly isn’t alone — a collective 79 or more branches have shuttered from multiple competitors this year.

CITIZENS BANK

Citizens Bank confirmed last month that it would axe 15 locations in Massachusetts, Michigan, New Hampshire, Ohio, Pennsylvania, and Rhode Island in early 2025 and beyond, per its filing with the Office of the Comptroller of the Currency.

Most of the affected branches have unconfirmed closure dates at this time, but a location in East Providence, Rhode Island, noted its doors would close for good on January 22, 2025.

Since 2014, at least 29 Citizens Bank locations have been shuttered in the state, according to data gathered by Providence Business News.

The majority took place during the coronavirus pandemic in 2020.

Brick-and-mortar banking has faced a significant decline since 2009.

Information from the FDIC noted over 20,000 branches have closed since then.

Wells Fargo was also recently sued by a customer who claimed they were given “unusable checks” and had to drive 11 hours to access $25,000.

A Bank of America customer also allegedly had $20,000 wiped out from their account, and they still haven’t gotten the money back.