Wells Fargo to construct new location, consolidate downtown offices
March 1, 2011 at 5 p.m.
Updated Feb. 28, 2011 at 9:01 p.m.
A new Wells Fargo banking center is on its way to Victoria, the company announced Tuesday.
The company will combine its existing downtown facilities - the store at One O'Connor Plaza and drive-through facility at 101 S. William St. - into a location at the intersection of North Main Street and U.S. Highway 59 Business, according to a Wells Fargo news release.
The site is the former home of the Homestead store.
The 5,000-square-foot store, slated for completion this fall, will provide consumer banking, small-business banking, mortgage and investment services. The current facilities will remain in operation until the new building opens.
Wells Fargo has a long history of meeting Victoria customers' financial needs, Mark Veit, the company's district manager for community banking in Victoria, said in a news release.
"Our new store location gives us a foundation to grow in downtown Victoria for years to come, continuing our service to the community and our support for its growth and development," he said.
In a related project, Wells Fargo also plans to renovate Wealth Management Group space in One O'Connor Plaza, according to the news release. As part of the renovation, the business banking and private banking teams will permanently relocate to the company's 4800 N. Navarro St. location.
The moves are all a way to centralize commercial banking for Victoria and make it more efficient for Wells Fargo to service its customers, David C. Edwards, Wells Fargo's senior vice president and business banking manager for the Victoria Crossroads and Upper Gulf Coast markets, said in the release.
Throughout the changes, all of Wells Fargo's other current downtown employees will move to the new site, Joe Stroop, a company spokesman, said in a phone interview.
Although construction is slated to end in fall, it is unclear exactly when it will begin, he said, explaining the bidding process is still under way.
"We can't put a timeline together until we know who the winning bidder is," Stroop said, adding that local contractors were invited to bid.
It is unclear how much the project will cost, but Wells Fargo would not release that information, he said, citing competitive reasons.
Wells Fargo is excited for the upcoming change, and the changes demonstrate the company's commitment to the city, business district and Crossroads customers, David McLarry, the bank's market president, said in the release.
"That commitment grows out of our vision as a company - that we will strive to meet all of our customers' financial needs and help them succeed financially," he said.