Wells Fargo to Rebrand Wachovia Branches in Texas (NYSE: WFC)

Wells Fargo & Co. (NYSE: WFC) announced that it is planning on rebranding its Wachovia branches in Texas as Wells Fargo locations. The company also announced that it would be adding new banking centers to the state.

After the rebranding is complete, Wells Fargo said that it plans on adding 161 banking locations to the state, bringing its statewide total to more than 700 retail location. After the transition, Wells Fargo is also expected to have more than 1,000 ATMs in Texas.

The conversion process will also result in 79 Wells Fargo and Wachovia locations combining in the state because of their close proximity. Wells Fargo said that most of the branches are within a mile of each other.

The company said that the consolidation efforts will not result in any job elimination.

“[W]e’ve been working behind the scenes for months to combine these two great companies, teams and cultures,” said Chip Carlisle, Wells Fargo regional president for Texas. “With our combined resources, we’re in an even better position to satisfy all our customers’ financial needs.”