Wells Fargo will have 39 branches in the Richmond region after the Nov. 6 Amberdale Drive closure.
Wells Fargo continues its years-long streak of trimming its Richmond-area branch count, this time with a location in North Chesterfield set to get the ax.
The banking giant plans to close its outpost at 9601 Amberdale Drive on Nov. 6, a spokesman confirmed in recent days.
The branch will remain open for business as usual until then. After that, the bank is directing customers of that location to use its branch at 7202 Midlothian Turnpike, which is six miles away.
The Amberdale branch fronts the Amberleigh Village neighborhood. Wells Fargo owns the property, which it inherited through its takeover of Wachovia Bank years ago.
It’s one of the bank’s smaller branches in Chesterfield in terms of deposits, holding $134 million as of June 30, according to the FDIC.
Wells Fargo has yet to make a decision as to whether it will sell or lease the Amerdale Drive property.
The 4,500-square-foot branch building was constructed in 2007 and sits on a 1.2-acre lot. The property was most recently assessed by the county at $1.9 million.
Wells Fargo has made it a practice in recent years of shuttering underperforming branches in the face of changing consumer trends toward online banking. It will have 39 branches remaining in the Richmond metro area after the Nov. 6 closure. That’s down from 45 a year ago and 56 five years ago and 63 a decade ago.
Still, the bank emphasized its continue presence in the Richmond market, where it is the third largest bank doing business in the region based on deposits, trailing only Bank of America and Truist.
“Wells Fargo remains committed to Richmond, and branches continue to play an important role in the way we serve our customers in combination with our online and mobile channels and ATMs,” it said in an email to BizSense.
The bank said it is considering options for what to do with the North Chesterfield property, but has not yet made a decision.
Other vacated Wells Fargo sites have attracted suitors in recent years. Among them is its former branch at 3501 W. Broad St. across from Scott’s Addition in the city. That prime property was under contract earlier this year to be sold to an unknown buyer. That deal has yet to close.
Earlier this summer competitor Fulton Bank took over the former Wells Fargo branch at 8215 W. Broad St. at the corner of Parham Road. It will serve as Fulton’s new West End branch, replacing its current spot at 4180 Dominion Blvd.