Clients Upset as Another Ventura Bank Closes

VENTURA — There was a day, old-timers say, when it seemed there was a bank on every street corner in downtown Ventura.

The area still is filled with the noble neoclassical facades of former banks--the First National Bank at the corner of California and Main streets, the Bank of Italy at the corner of Oak and Main streets and the former Santa Barbara Savings bank at the corner of Chestnut and Santa Clara.

Even the Hamburger Habit used to be a motor-through bank, according to old-timers.

But with the closure of the Wells Fargo downtown branch at 101 S. Chestnut St. on Friday, the number of banks downtown will dwindle to a paltry two--the Bank of America at the corner of California and Main streets and the American Commercial bank at the corner of Palm and Main streets.

Now even more people who live and work downtown will have to jump into their cars and drive--to the supermarkets and malls--to do their daily banking.

Most are not happy.

“It’s a very sad day for Wells Fargo,” said Theresa Parks, owner of VenCo Realty, dashing into the bank on the way to lunch. “And very disappointing to merchants downtown. I guess it’s part of a big corporate shutdown thing. But it sure does make it difficult for people.”

She said Wells Fargo has her biggest business account, and she will keep it there.

“But you know what?” she said. “I opened my personal account at the BofA.”

Ricardo Brody ducked into the bank for a transaction.

“This is my main branch. I walk here. I appreciate the location because it’s on the way to the post office,” he said. “I’d rather come here than go to Vons, go through the parking lot, deal with the traffic and Burger King.”

Despite the inconvenience, Wells Fargo spokeswoman Kathleen Shilkret said the closures are part of the bank’s larger “any time, anywhere” strategy.

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“Basically it is a strategy whereby we are putting in more branches,” she said. “We are closing traditional branches, but we have already opened a number of supermarket locations in the last year or so.”

The supermarket branches--of which there are now five in Ventura--will have either scaled-down versions of a full-service branch or an ATM machine and a customer service representative.

The closure of the Chestnut Street branch is the fifth in the county since April 12. A branch in Santa Paula and one in Moorpark closed May 10, and branches in Fillmore and Camarillo closed April 12.

In all, seven Southern California branches shut their doors for the last time Friday afternoon.

Wells Fargo has already slashed 12,600 jobs since merging with First Interstate Bancorp last year.

And as part of a cost-cutting campaign, Wells Fargo hopes to lose 1,200 of its remaining 33,216 employees through natural attrition by the end of the year.

But Assistant Manager Donna Barnes said none of the downtown branch’s 10 employees will be laid off. Instead, they will be transferred to other branches.

The downtown Ventura Wells Fargo is referring its customers to other branches--such as the Vons supermarket on Main Street off Ventura Avenue or to branches on Mills Road or Telephone Road.

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But some customers, like Pat Richardson, probably will just transfer to other banks.

“I don’t like going to the grocery store to go to the bank,” said Richardson, who works at City Hall, as he pulled his cash card out of the machine at lunchtime Friday.

“Since they merged with First Interstate, it’s like they’re closing all their branches,” he said. “You can’t really deal with a branch anymore. You look up the number and call and it’s an automated thing. Every branch is in a Vons.”

He’s tried it. And he doesn’t like it.

“I went in there, and basically you are stuck in the beer section,” he said.

He will probably switch to the Bank of America or American Commercial Bank, he said.

The ATM machines at the downtown location will remain open for at least 90 days, bank spokeswoman Shilkret said.