A national bank with a noticeable presence in our area has sold some of its Indiana and Michigan locations.
Wells Fargo is exiting retail banking operations in these states as the beleaguered company follows through on previous plans to reduce the number of locations it has open.
Officials with the San Francisco bank say that they will sell 52 retail bank branches in Indiana, Michigan, Wisconsin and Ohio to a Flagstar Bancorp subsidiary, as well as several branches in Wisconsin. Wells Fargo & Co. has said it will reduce to approximately 5,000 the branches it operates by the end of 2020.
33 of the 52 locations Flagstar is buying are in Indiana, with 26 of them in Fort Wayne. It wasn’t mentioned where the other seven Indiana locations are.
The Associated Press contributed to this story.
