Wells Fargo To Close Bank Branches In North Jersey

NORTH JERSEY — A branch of one of the country's oldest banks will be closing in Hoboken in September, and another by the Jersey Shore will close weeks later.

Wells Fargo Bank said in a letter to their Hoboken customers this week that they will close their uptown branch on the morning of Sept. 2.

But they will keep another branch open near the Hoboken Train Terminal, about a mile away.

The Asbury Park Press reported Friday that the company plans to close its branch in the Oakhurst section of Ocean Township in September, as well.

A report in the Charlotte Observer this month says the company already closed 13 branches nationwide this year, including one in Morris County.

Wells Fargo spokesman Joseph Rupolo told Patch on Friday that branches were being closed or moved based on customer demand.

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

"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 how many more New Jersey branches might close.

But the Philadelphia Business Journal reported on Monday that 18 more branches will close nationally, including several in New Jersey and the Philadelphia area.

The Wall Street Journal said in a January report 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.

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