The Stagecoach is leaving downtown Tucson.
Wells Fargo β known for its logo evoking its heritage as a stagecoach line β plans to permanently close its main branch office at 150 N. Stone Ave. effective on Feb. 22, in response to evolving customer needs.
βWeβre constantly evaluating the branch network and we make the adjustments based on several different factors, customer needs, market factors, things like that,β Wells Fargo & Co. Arizona spokeswoman Liana Enriquez said. βItβs just something that we analyze consistently, based on customer trends and needs, and weβve seen more customers using the digital options and tools.β
Local Wells Fargo customers were advised of the change in a recent mailer.
There is another Wells Fargo walk-in branch about two miles northeast of the downtown location on East Speedway at North Warren Avenue, Enriquez noted, and another on East 22nd Street just east of Interstate 10.
In all, Wells Fargo has 18 branch offices around metro Tucson.
Wells Fargo hasnβt decided yet whether to keep an automated teller machine downtown following the branch closure, she said.
Enriquez said Wells Fargo plans to sell the 50,000-square-foot building, which was built by the now-defunct Southern Arizona Bank and Trust in 1957.
The building, which features Italian Renaissance revival style façade with ornate arches and columns, was acquired by Wells Fargo when it acquired Southern Arizona Bank successor First Interstate Bancorp in 1996. The planned closure of the Wells Fargo branch will leave three walk-in bank branches downtown, operated by Chase, PNC Bank and National Bank of Arizona.
In 2017, Bank of America closed its branch office at 33 N. Stone β a landmark building-on-stilts long known as the Bank of America Plaza β but it still has an ATM there.
Downtown Tucson looking south on North Stone Avenue from Alameda Street in June 1965. From left, Southern Arizona Bank and Trust (now Wells Fargo Bank), Pioneer Hotel and Tucson Federal Savings building.
Banks across the nation have been closing walk-in branches for years as consumers increasingly do their banking online.
In 2021, banks closed 2,927 branches in the U.S., net of new branch openings, up from 2,126 in 2020 when the number of net closures rose for the first time in three years partly due to the COVID-19 pandemic, according to S&P Global Market Intelligence.
Arizona had a net decline of 26 bank branches in 2021, the research firm found.
Wells Fargo reported the most net closures in 2021 at 267, followed by U.S. Bancorp with 257 net closures.
Banks have accelerated plans to consolidate their branch footprints as the COVID-19 pandemic drove consumer use of mobile and digital services, while low interest rates have pressured profit margins and forced a reconsideration of expenses, S&P Global said.
Watch now: When the Pioneer Hotel was built in 1929, it was the tallest building in Tucson and stayed the tallest for some time. It now ranks at 15th tallest.
Then and Now photos of downtown Tucson
El Charro
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The remains of El Charro restaurant, and the stables on the far right, as it appears on May 27, 1972 in downtown Tucson. Parts of the structure go as far back the 1860s. Located on West Broadway Boulevard, the plans are to restore the structure and as it becomes part of the $6 million La Placita Village complex using a mix of Mexican-style shops and cafes. Workers poured concrete around the foundation of the old building to stablize it during construction of the 2.6 acre complex.
El Charro
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The buidling where the El Charro restaurant once entertained patrons in downtown Tucson is most of all that remains as the former La Placita Village is being demolished on May 21, 2018. The village, which opened in 1974, is being replaced with newer office spaces, plus residential and retail buildings.
EP&SW Depot
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The El Paso and Southwestern Railway Depot at Congress St. and Interstate 10, shown in 1978, before being remodeled into a Big Yellow House restaurant.
EP&SW Depot
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The El Paso and Southwestern Railroad Depot and Park at 411 W. Congress St., is once again vacant in Tucson on May 21, 2018. The depot, an example of Classic Revival architecture was originally completed in 1913 and is a copy of the EP & SW depot in Douglas, Ariz. It served passengers until 1924 when the railroad merged with the Southern Pacific Railroad. Years later it was converted into two different Mexican restaurants, Carlos Murphy's and Garcia's.
Stone and Congress
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Looking west of North Stone Avenue and West Congress Street in downtown Tucson, ca 1980s. The Downtowner Restaurant, at 1 W. Congress St., is visible. What is not visible, is the boarded up Fox Theatre.Β
Stone and Congress
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Pedestrians cross Congress Street at Stone Avenue in downtown Tucson on May 21, 2018.Β
Congress and Herbert
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Herbert Avenue where the Rialto Theatre is located and looking west along East Congress Street in downtown Tucson., ca. 1980s.
Congress and Herbert
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Pedestrians walk along East Congress Street where Herbert Avenue once crossed the intersection in downtown Tucson on May 21, 2018.
El Presidio Hotel
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In 1974 when this photo was taken, the 85-room, four-story El Presidio Hotel in downtown Tucson, located on 246 East Broadway Boulevard between South 4th and 5th Avenues, was still in operation but on shaky ground. It was built in 1929 and during its glory years of the 1940s and 1950s it was considered charming by the winter visitors who stayed there. It was host to such celebrities as baseball player Rogers Hornsby and country singer Hank Williams Sr. Fires, four in all, heavily damaged the building until the last one in February 1989. By October 1989 it was demolished.Β
El Presidio Hotel
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246 East Broadway Boulevard in Tucson on May 21, 2018.Β
30 E. Congress
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The newly completed Chaz's Bistro, at 30 E. Congress Street between Scott and Stone, is just east of the Valley National Bank on Oct. 9, 1981 in downtown Tucson. It was remodeled and turned into a full-service French luncheon house. The owners invested in exterior renovations installing windows working on the balcony. The building once housed the Talk of the Town Saloon and Backside Saloon.Β
30 E. Congress
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A pedestrian walks across the street from the City Park development on East Congress Street between Scott and Stone Avenues in downtown Tucson on May 21, 2018. The proposed multi-story structure is expected to have a food and entertainment venue on the lower floors with offices in the upper floors.Β
Arizona Avenue
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W.A. Julian Co. plumbing company on South Arizona Avenue near Broadway Boulevard in downtown Tucson, ca. 1980s. It was constructed in 1917. Over time it was also a general store, roofing warehouse and commerce and trade center. Tucson Citizen
Arizona Avenue
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The Carriage House at 125 S Arizona Ave., is a venue evisioned by Chef Janos Wilder as a modern, state of the art catering kitchen and event space in downtown Tucson on May 21, 2018.Β
Arizona Ave. parking lot
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Parking lot behind East Congress Street near North Arizona Avenue in downtown Tucson, ca. 1980s. The back door of Johnny Gibson's Gym Equipment can be seen on the right.Β
Johnny Gibson's
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Part of the AC Hotel Tucson Downtown sits on what used to be a parking lot on May 21, 2018.Β
Scott and Congress
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East Congress Street at Scott Avenue in downtown Tucson looking west towards Field's Jewelers and Pawnbrokers and the Thrifty Drug Store, ca. 1980s. It was later referred to as the Thrifty Block.Β
Scott and Congress
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Street view of East Congress Street, between Scott and Stone Avenues, where the current construction of the City Block seems to dominate the activity in the area in downtown Tucson on May 21, 2018.Β
Temple of Music and Art
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The Temple of Music and Art, at 330 S. Scott Ave., ca. 1980s, during a time of disrepair. At one time, the roof was leaking and a back stage area collapsed. Opened in 1927, the structure was meant as a performance art space. Over the years it also became a theater featuring Spanish language movies. In the 1980s, developers bought the structure and sought to demolish it and replacing it with a five-story office building.Β
Temple of Music and Art
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Built in 1927, the Temple of Music and Art, at 330 S. Scott Avenue, is a Spanish Colonial style structure that now houses the Arizona Theatre Company in downtown Tucson on May 21, 2018. The courtyard is a gathering space before and after performances. The intimacy of the main 627-seat theater allows patrons to no more than 66 feet away from the stage. A.E. Araiza / Arizona Daily Star
