The Newspaper for the Future of Miami
Connect with us:
  • Facebook
  • Twitter
  • Instagram
  • Linkedin
Front Page » Business & Finance » Wells Fargo plans to add branches here

Wells Fargo plans to add branches here

Written by on December 31, 2013

Wells Fargo is working to add two branches in Miami-Dade this year.

A Miami Beach branch is to occupy a 1,900 square-foot-building at 7687 Collins Ave., while a Hialeah Gardens center is set for a 3,200-square-foot site at 11990 Hialeah Gardens Blvd.

The Miami Beach branch is set to open during the second or third quarter of 2014, while the Hialeah location is slated for a fourth-quarter opening.

In November the bank strengthened its presence in Hialeah, the sixth largest city in the state. It opened a full-service branch with retail, small business, investment, mortgage lending and other services at 581 W 49th St., on a corner of Red Road.

“We are excited about this new store and look forward to serving more customers in the Hialeah neighborhood,” spokeswoman Michelle Palomino said.

Wells Fargo, one of the largest employers in the county, has added nearly 200 bankers and tellers in Florida since the start of the year.

And it’s continuing to hire, Ms. Palomino said.

Bank officials wouldn’t specify how many jobs the two new branches would create next year, but the Miami Beach center will have seven banker desks and four teller windows. In Hialeah, the space is approved for six lobby teller stations, two drive-up windows and nine banker desks.

“We’re still hiring, with positions open throughout South Florida,” Ms. Palomino said.

In 2012, the bank recruited 159 employees, bringing its Miami-Dade staff at that time to more than 1,900 and its South Florida staff to about 5,000.

The upcoming branches are the latest expansion for San Francisco-based Wells Fargo, which already holds more deposits than any of its competitors in the South Florida market.

With about $30 billion in deposits in the region, it controlled about 17% of the market, according to the latest FDIC reports, outpacing its nearest competitor, Bank of America’s $27 billion, or about 15% market share. Wells Fargo also holds a dominant position across the state, controlling the second biggest chunk of deposits.