Posted: Dec 3, 2009 12:04 PM
Updated: Dec 3, 2009 12:04 PM
San Francisco-based Wells Fargo is shutting down 122 California branches, most of them Wachovia offices they purchased last year.
Most of the closures will be Wachovia branches near existing Wells Fargo locations. They will be closed in April.
The bank will still have more than 1,000 branches in California.
Wachovia was teetering near collapse when Wells Fargo bought the bank in a deal brokered by the Federal Deposit Insurance Corp.
Wells Fargo currently has 187 Wachovia offices in California. Of those, 101 will be closed.
Bank spokeswoman Jennifer Langan says 21 Wells Fargo locations will also be closed.
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