Wells Fargo closing Cherry Creek branch

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Wells Fargo will close this location at 2500 E. 2nd Ave. early next year. (Photo courtesy of Google)

Wells Fargo will close a branch in Cherry Creek at the start of next year.

The national banking giant has told federal regulators that it will close its location at 2500 E. 2nd Ave. A company spokesman said that will happen at noon Jan. 25.

“This is not an easy decision or one that we take lightly,” said spokesman Tony Timmons. “We continually evaluate our branch network and make adjustments based on changing customer needs, market factors and economic trends.”

He added, “This process leads to both expansions and consolidations. While branches continue to be important in serving our customers’ needs, we’re finding that customers increasingly use digital tools for transactions such as check deposits.”

2500 E. 2nd Ave. is part of the 700,000-square-foot Clayton Lane development. That development also includes Whole Foods, a JW Marriott hotel, shops and condos.

Wells Fargo is the largest banking chain in the metro area. It processed $29.2 billion in deposits here between mid-2021 and mid-2022, according to Federal Deposit Insurance Corp. data released Sept. 16. Those were 23 percent of all bank deposits in the Denver metro.

It is also the largest banking chain in the state. It processed 20.4 percent of Colorado deposits between mid-2021 and mid-2022. Chase was second with 12.7 percent.

Wells Fargo’s other Cherry Creek location at 3155 E. 1st Ave. will remain open.

The company also opened a new branch at 10250 N. Federal Blvd. in Federal Heights last week. Wells Fargo occupies 4,000 square feet there.

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Wells Fargo will close this location at 2500 E. 2nd Ave. early next year. (Photo courtesy of Google)

“This is not an easy decision or one that we take lightly,” a spokesman for the area’s largest banking chain said.

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