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Wells Fargo closes its DeLeon Springs branch

FORMER TENANT — Wells Fargo was still open in DeLeon Springs when this photo was taken recently. The property now is for sale, along with an adjacent property to the left in this photo that has a vacant training center on it.

FORMER TENANT — Wells Fargo was still open in DeLeon Springs when this photo was taken recently. The property now is for sale, along with an adjacent property to the left in this photo that has a vacant training center on it.

BEACON PHOTO/JOE CREWS

Another bank has closed a branch office in West Volusia.

The Wells Fargo branch at 5065 U.S. Highway 17 in DeLeon Springs closed Oct. 4, leaving that community without any banking locations.

Wells Fargo spokesman Michael Gray said the closure is among about 200 the San Francisco-based national bank was making this year.

“We expect to close around 250 branches across the country next year, and many of the closures in 2017 are locations in close proximity to another branch,” Gray said in an email. “Because of this, we don’t expect a significant team member impact.”

Operations at the former DeLeon Springs location are being consolidated with those of another branch in Gibbs Plaza at 1695-1 N. Woodland Blvd., a little more than 5 miles south, near a Walmart Supercenter in north DeLand.

Gray couldn’t say if any other Volusia County locations will be closed in the future.

“We continue to evaluate our branch network, and base our physical distribution strategy on customer behavior, market factors, economic trends and competitor actions,” he said. “We cannot disclose at this time any other potential branch closures next year in the region.”

Wells Fargo still has seven West Volusia branches: three in DeLand, two in Deltona, and one each in Lake Helen and Orange City. There are 23 branches throughout Volusia County, Gray said.

With Wells Fargo gone, the property it sat on and an adjacent parcel are for sale. Michael Sweeney, a listing agent with Colliers International in Orlando, said the two lots can be bought individually for $250,000 each or together for $500,000.

The bank parcel consists of 1.48 acres, with the bank building totaling about 4,800 square feet, according to a fact sheet Sweeney provided. A parcel immediately to the north at 5095 North U.S. 17 has a 5,143-square-foot training center sitting on just under 1 acre of land.

Sweeney didn’t know why Wells Fargo closed the branch there.

“All the banks are reducing their retail footprints,” he said.

In any case, Wells Fargo is following a trend in the banking industry of connecting with customers through digital means.

Earlier this year, CNN reported more Americans are preferring to do their banking online or on mobile phones. Bank of America and JPMorgan Chase have been even more aggressive than Wells Fargo in shutting branches in recent years, the network said.

That trend has been reflected in West Volusia. Chase last month closed a branch on East International Speedway Boulevard in DeLand. Chase still has four branches in Orange City, Ormond Beach, Port Orange and New Smyrna Beach.

SunTrust shuttered a branch on East New York Avenue in DeLand in late January, as well as five others in Deltona, Holly Hill, Port Orange, Daytona Beach Shores and New Smyrna Beach in the first half of 2017. The closings left SunTrust with 16 full-service branch offices in Volusia County, including two others in DeLand and one each in Orange City and Deltona.

The SunTrust location in DeLand has been bought by Fairwinds Credit Union, which will move its local branch there this fall.

- Joe Crews, joe@beacononlinenews.com

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