Branch Of Major Bank To Close In Hoboken This Summer

HOBOKEN, NJ — A branch of one of the country's oldest banks will close in Hoboken this summer, although the company will keep a second branch open a mile away.

Wells Fargo Bank, on 14th Street, said in a notice to customers that the branch will close for good at 11 a.m. on Sept. 2.

The notice directed customers to the bank's other location near the Hoboken Train Terminal, at 95 River St.

Wells Fargo spokesman Joseph Rupolo told Patch on Friday that the company has been closing or moving certain branches based on customer demand.

"Branches continue to play an important role in the way we serve our customers in New Jersey," he said in a statement, "in combination with our mobile app, website, and ATMs."

He added, "We are actively investing in our branch network by opening new locations and refurbishing our entire network. As we optimize our branch network, we are focused on enhancing our branch presence based on customer demand and changes to the retail landscape to best meet the banking needs of each community we serve."

He did not respond to questions about which other branches in New Jersey may close this year.

But the Asbury Park Press reported Friday that the company also plans to close its branch in the Oakhurst section of Ocean Township in September.

A report in the Charlotte Observer last week said Wells Fargo has already closed 13 branches nationwide this year, including one in Morris County.

The Wall Street Journal said in a report in January that brick-and-mortar bank branches in general have been closing at a rapid pace due to digital banking.

Henry Wells and Samuel Fargo founded Wells Fargo Bank in New York City in 1852, initially operating by stagecoach, according to a bank history.