Local Wells Fargo Branches to be Sold
Wells Fargo is set to sell off a number of its banking locations, including some local branches. According to their press release, the company has entered into an agreement to sell 52 retail bank branches to Flagstar Bank. The sale includes all 14 Wells Fargo branches in Michigan and four in Wisconsin. Among those on the list to be sold are the banks in Mountain, Oconto Falls, Marinette, Gillett, Menominee, and Escanaba. Around 500 current Wells Fargo employees are expected to get job offers from Flagstar. The sale and rebranding of these banks is likely to be completed in late 2018. The sale is part of a larger effort to reduce Wells Fargo’s retail bank branches to around 5000 by 2020.