Shrinking Branches: How Wells, Umpqua and Bank of West are Downsizing
Published June 6, 2013 8:00 AM
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Updated May 9, 2014 11:50 AM
1 Min Read
Wells Fargo (WFC), Bank of the West and Umpqua (UMPQ) are among the banks scaling down branches and eliminating teller windows. Here's a photo sampling of branch concepts that do away with the need for larger real estate.
(Image: Thinkstock)
Wells Fargo uses movable walls that can be used to create semi-private rooms. Five employees, equipped with Microsoft Surface tablets, staff the D.C. neighborhood store.
Umpqua has been building small branches since 2006 that it refers to as neighborhood stores. The bank is operating about a score of the downsized locations, which range between 1,000 and 1,500 square feet and cost about $500,000 to build.
Umpqua's neighborhood stores include computer stations and electronic menus displaying local events. The designs are aimed at encouraging consumers to linger.
Bank of the West has opened 10 small branches (2,500 square feet) that include access to tablet computers.
One of Bank of the West's smaller branches opened its doors in Mill Valley, Calif last December.
