Wells Fargo’s Shift to Digital: Four More Texas Branches to Close
Wells Fargo continues to downsize its physical presence, announcing the closure of 14 branches nationwide, including four in Texas. The affected Texas locations include:
- 321 University Drive, College Station
- 1930 North Loop 1604 E, San Antonio
- 2611 Cedar Springs Road, Dallas
- 25100 F.M. 2100, Huffman
The move is part of a broader industry trend driven by the rapid shift toward online and mobile banking. While digital services offer convenience for many customers, experts warn that branch closures could disproportionately impact elderly customers, low-income individuals, and racially diverse communities, who often rely on in-person banking for essential services.
A Profitable Yet Shrinking Footprint
Despite reducing its physical footprint, Wells Fargo remains highly profitable. In 2024, the bank reported $18.6 billion in net income, equivalent to $5.43 per share, even as average loan balances declined.…