WELLS FARGO ACTS FAST : MANY 1ST INTERSTATE SITES TO SHUT.Byline: Dawn Yoshitake Daily News Staff Writer Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. & Co., swiftly moving along its month-old merger with First Interstate Bancorp First Interstate Bancorp was a bank based in the United States that was taken over in 1996 by Wells Fargo. It was headquartered in Los Angeles. The name has continued to be used in the banking world by used after the merger by First Interstate Bank who had been using the , will begin the first wave of branch closures July 27, company officials said Wednesday. A second wave will follow Aug. 10, resulting in the total closure of 257 California branches. Two-thirds of the closures involve First Interstate branches, said Kathleen Shilkret, a Wells spokeswoman. Layoff Layoff 1. When a company eliminates jobs regardless of how good the employees' performance. 2. A risk reduction, made by investment bankers, that minimizes the potential downside associated with a commitment to purchase and sell a stock issue unsubscribed by stockholders holding notices will be sent to an estimated 2,000 branch employees May 15, but the workers will be retained until Sept. 1 when the branch consolidation is completed. ``We made our selections based on location and parking,'' Shilkret said. ``We tried to get the best location between the two.'' ``The merger is moving extremely quickly,'' Shilkret said. ``Everything is happening simultaneously.'' Customers' savings and checking accounts are scheduled to convert to Wells Fargo banks in early August. First Interstate checks still can be used after the conversion. No date has been set for the conversion of credit cards, investment accounts and other banking products, Shilkret said. First Interstate signs will be switched to Wells Fargo on Aug. 10. Customers like Paul Shorr of Tarzana are prepared for the changes. Shorr, who banks at the Tarzana branch that will be closing, has been through several bank mergers. ``I'll see how the service goes with Wells Fargo. If I'm happy, I'll stay. If I'm not, then I'll go to another bank,'' said Shorr, a First Interstate customer for 12 years. Vladimir Alfa, a Woodland Hills resident, said he will keep his multiple accounts after the Tarzana branch closure. ``I'm going to stay with Wells because it's too much hassle to move them,'' said Alfa, a six-year customer. Outside of the branches, several First Interstate departments have received notice of their pending relocation. First Interstate's customer information group in El Monte El Monte (ĕl mŏn`tē), city (1990 pop. 106,209), Los Angeles co., S Calif.; inc. 1912. A residential, industrial, and commercial city in the San Gabriel Valley, El Monte manufactures furniture, electronic equipment, semiconductors, and National City will move to Tempe, Ariz. An undisclosed number of the unit's 150 employees will be relocated. And First Interstate's mortgage processing division, with its 100 jobs in downtown Los Angeles Downtown Los Angeles is the central business district of Los Angeles, California, located close to the geographic center of the metropolitan area. The sprawling, multi-centered megacity is such that its downtown core is often considered just another district like Hollywood or , will be transferred to National City. BRANCH CLOSURES First Interstate and Wells Fargo branches scheduled for the July 27 consolidation in the San Fernando San Fernando, city, Argentina San Fernando (săn fərnăn`dō), city (1991 pop. 144,761), Buenos Aires prov., E Argentina. It is a district administrative center in the Greater Buenos Aires area. , Santa Clarita Santa Clarita, city (1990 pop. 110,642), Los Angeles co., S Calif., suburb 30 mi (48 km) NW of downtown Los Angeles, on the Santa Clara River; inc. 1987. Situated in the Santa Clara valley and nearby canyons, Santa Clarita includes the former towns of Canyon Country, and Antelope valleys This article is about the Los Angeles County region. For the census-designated place in Wyoming, see Antelope Valley-Crestview, Wyoming. The Antelope Valley include: Burbank - First Interstate at 699 N. Victory Blvd. will move its deposits to Wells Fargo at 900 N. San Fernando Blvd. Santa Clarita - First Interstate at 19401 Soledad Canyon Soledad Canyon is a long narrow canyon / valley located in Los Angeles County, California between the cities of Palmdale and Santa Clarita. Soledad Canyon contains the localities of Vincent, Acton, Ravenna, and Agua Dulce. Road will move to Wells at 19310 Soledad Canyon Road. Sherman Oaks - First Interstate at 14708 Ventura Blvd. will move to Wells at 14855 Ventura Blvd. Tarzana - First Interstate at 19500 Ventura Blvd. will move to Wells at 18705 Ventura Blvd. Valencia - First Interstate at 24301 Magic Mountain Parkway will move to Wells at 23430 Valencia Blvd. Source: Wells Fargo & Co. CAPTION(S): Photo, Box Photo: (Color) Paul Shorr of Tarzana is a longtime Fir st Interstate customer and is concerned about the effects of the buyout. Tom Mendoza/Daily News Box: BRANCH CLOSURES (See text) |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion