Wells Fargo to Expand Hours Of Ventura Blvd. Branches

What can a small businessman or woman do in an hour? Wells Fargo is hoping it’s a lot. The bank next month will begin opening its Ventura Boulevard stores one hour earlier, at 8 o’clock in the morning to meet the needs of small business owners. The Valley area is the first, and so far at least, the only market in which Wells is expanding store hours. “The Ventura Corridor is especially dense with small businesses,” said Vince Liuzzi, regional president for the community bank in the San Fernando Valley. “Wells Fargo’s decision to expand our business hours for Ventura Boulevard is intended to meet the needs of our small business customers, particularly as the upcoming holiday season approaches.” Although merchants may find it especially difficult to transact their business affairs during the busy holiday season, the earlier opening is intended to be a year-round strategy as well. Most banks do not open until 9 o’clock in the morning. The banks will continue to close at 6:00 p.m. The local banks affected by the move are located in Woodland Hills, Ventura/Oakdale, Tarzana, two locations in Encino and two locations in Sherman Oaks and Studio City. In addition, Wells’ Panorama City store, which is located on Van Nuys Boulevard, will also begin expanded hours Nov. 1. The bank’s personal banking, investment, mortgage and business banking services will all be available during the extended hours, officials said. Banks have for some time now been moving to a more community-centric approach, with expanded services and amenities in the branches. At the same time, most have been emphasizing online banking services to give customers options for conducting their banking during non-traditional hours. Wells, when it opened its Pacoima branch, provided service in that store seven days a week, and since then has expanded its Sunday openings to nine other branches in the Valley. In addition to Pacoima, the bank is currently open on Sundays in North Hollywood, Encino, Panorama City, Northridge/Reseda, Granada Hills, Tarzana, West Hills, Glendale, Studio City and the city of San Fernando. The San Francisco-based bank last week reported results for the third quarter. Net income rose 11 percent to $2.19 billion or $0.64 per diluted share, versus $1.98 billion or $0.58 per diluted share for the like period a year ago. Revenue rose 5 percent to $8.93 billion versus $8.50 billion in the prior year period. Wells’ community banking segment, however, did not fare as well. The bank reported net income was relatively flat at $1.47 billion versus $1.49 billion in the third quarter of 2005. Revenues totaled $5.78 billion, versus $5.83 billion in the like quarter last year.