Wells Fargo is closing its branch banking operations in downtown Cedar Rapids at 11 a.m. Wednesday, March 6, a Wells Fargo spokesperson has confirmed.
Mike Slusark, a vice president and lead communications consultant for Wells Fargo, said that while the branch at 150 First Ave. NE will close for banking operations, a Wells Fargo Advisors office will continue operations on the second floor of the building to assist with investing needs.
Mr. Slusark said Wells Fargo Bank customers can visit the bank’s Cedar Rapids branches at 500 33rd Ave. SW and 3570 First Ave. NE. After the downtown branch closure, Wells Fargo will have four remaining branches in Cedar Rapids and one in Marion.
“Because we currently have bank branches so close to each other, we are consolidating them into fewer locations,” Mr. Slusark said, noting that current branch employees at the downtown location will be transferred to other Wells Fargo branches.
Local Wells Fargo customers were notified of the branch closing in November, and signage has been posted at the downtown branch since then, Mr. Slusark said.
Wells Fargo owns the 150 First Ave. NE location and is “considering future options” for the building, Mr. Slusark said.
Wells Fargo closed another Cedar Rapids branch, at 1800 First Ave. NE, in October 2020. That building was subsequently purchased and remodeled to become a branch location for Collins Community Credit Union, which opened in June 2022.
The building at 150 First Ave. NE was first opened as a Brenton Bank branch in 1977. Wells Fargo purchased Brenton Bank, including its 43 Iowa locations, in 2000, becoming the state’s largest bank in the process.
