Wells Fargo and Company (WFC)

[Prudent Capitalist]

Not surprising. All banks have too many branches these days with traffic in branches having dropped substantially as more and more Americans bank on-line and now use their phones to deposit checks rather than at the teller windows in branch banks. And, a lot of banks are restructuring, consolidating and downsizing branches to meet more current trends. Wells Fargo probably had more retail branches than anyone and consolidation is good for shareholders.

U.S. banks closed a record number of retail branches in 2021.
On net, U.S. banks shuttered 2,927 branches last year, according to S&P Global Market Intelligence data.
Wells Fargo was the top net branch closer in 2021, closing on net 267 retail locations.