On the heels of a wave of local branch closures from Truist, another big national bank is slimming down its retail presence in the Richmond region.
Wells Fargo is in the process of closing two of its local outposts: 9000 Patterson Ave. in Henrico and 13241 Rivers Bend Blvd. in Chester.
A Wells Fargo spokesman said the branches are set to close at noon May 18. They’ll remain open as usual until then.
The bank said the closures are part of its ongoing evaluation of its branch network in light of changing consumer trends.
That process has chopped down Wells Fargo’s branch count in the region in recent years from 65 10 years ago to 50, following these latest two closures, according to the FDIC. Its most recent previous closure was its West Broad Village storefront in October.
Other big banks have consolidated locations, including Truist, which last week confirmed it is closing three dozen branches statewide. That group includes 10 in the Richmond region.
Bank of America vacated its Forest Hill Avenue outpost on the city’s Southside in September.
The Patterson Avenue Wells Fargo branch houses $119 million in deposits and its operations are being consolidated into the nearby location at 1701 N. Parham Road at the corner of Fargo Road.
The Rivers Bend branch is among the bank’s smallest branches in Chesterfield County, holding $78 million in deposits. It is closing in favor of a location 5 miles away at 4400 W. Hundred Road.
The bank owns both the Rivers Bend and Patterson properties. It inherited the Patterson site through its acquisition of Wachovia. The 3,400-square-foot building sits on 1.3 acres and was most recently assessed by the county at $967,000.
The Rivers Bend property was a branch of the former County Bank of Chesterfield, which became part of Wells Fargo through a long series of mergers and acquisitions.
The 4,300-square-foot building sits on a 1.2-acre outparcel of the Food Lion-anchored River’s Bend on the James shopping center. It was most recently assessed at $1.5 million.
Wells Fargo held $8.7 billion in local deposits, as of June 30, third most in the region behind Bank of America and Truist, according to the most recent figures from the FDIC.