Wells Fargo Reopens Pacific Palisades Branch

U.S. Bank Offers ATM, Safe Deposit Box Access; Other Area Branches Provide Updates

By SARAH SHMERLING | Editor-in-Chief

The Wells Fargo branch in Pacific Palisades reopened on Wednesday, March 5, marking the first financial institution in the area to do so since closing on January 8 in response to the fire.

Several area bank branches have been reported to have not sustained damage in the Palisades fire, according to the CAL FIRE Damage Inspection database, including Wells Fargo, Citibank, City National Bank and U.S. Bank.

“Wells Fargo is the first major financial institution to reopen in the area and is ready to serve customers,” read a statement.

Wells Fargo reported that it is removing surcharge fees for non-Wells Fargo customers at 15 ATMs in the affected area (this does not include surcharge fees that may be incurred from issuer banks, the statement noted). They also have added “in-house experts” at the Palisades branch, who will “enable multiple customer support services,” including FEMA applications, destroyed document recovery, insurance claims and more.

“Since the fires, we have deepened our Community Support and Partnerships: Wells Fargo made a $500,000 contribution to the LA Region Small Business and Worker Relief Funds as part of the broader Wells Fargo $1.35 million donation,” the statement continued, “[and] partnered with Together for LA to provide resources and information to impacted small business owners and workers.”

Alice Juarez, regional branch network executive, Los Angeles Region, confirmed the branch’s current hours are Monday through Friday from 9 a.m. to 5 p.m.

“We are pleased that we are able to fully reopen our Pacific Palisades branch,” Juarez said. “We have served the local community since 2008 when we first opened our doors … Our hope is that with the reopening, we can provide some normalcy to our customers and be a resource to them.”

Juarez reported there was no safe deposit box damage sustained at the branch, with “no soot, no odor [and] no customer reports of damage.”

Speaking on behalf of U.S. Bank, Ben Gallagher, vice president of Public Affairs & Corporate Communications for CA Region Media Relations, confirmed that while the branch did not sustain damage in the fire, disruptions to power and water, as well as smoke and residue from the fire, “necessitated a full closure and interior remediation, which is still ongoing.”

As of Friday, March 7, the branch has reopened with limited hours on Wednesdays and Fridays from 10 a.m. to 1 p.m. for access to safe deposit boxes by appointment. ATM service at the location was also restored; clients have been notified of the current availability, according to Gallagher, who said that ATM and safe deposit boxes were “the most pressing need” the bank had heard from its clients, making that its “most pressing priority to restore access to at the location.”

“We are working closely with local authorities and others to prepare the branch to be safely reopened for full access but do not yet have a confirmed date,” Gallagher said. “We look forward to fully reopening the branch to serve our clients and the local community, and will provide more details on timing as soon as possible.”

Colin Wright with Global Communications for Citibank confirmed that an environmental and structural assessment of the building was recently completed, which found that the branch “did not sustain any damage in the fires.”

“We haven’t yet determined when we will reopen,” Wright wrote. “Our thoughts are with our neighbors and clients as they recover from the wildfires.”

Bank branches that were destroyed in the fire include Bank of America, Chase and First Citizens Bank.

“JPMorganChase is inspired by the resilience and resolve of the entire Palisades community,” said Peter Kelley with California Media Relations for Chase. “We are committed to rebuilding and supporting the long-term growth of this great community. The safety of our employees and clients continues to be our first priority as we help the community recover from the wildfires.”

Kelley explained that Chase has secured its branch site for construction teams to clear debris, while maintaining “enhanced security measures on site,” which includes “24/7 armed guards, fencing and lighting for protection.”

“Once safe, we’ll relocate safe deposit boxes to a nearby secure site to allow for customer access,” Kelley said. “For questions, customers can contact our special care line at 800-254-7713.”

Liz Shapiro with First Citizens Bank Corporate Communications reported on February 21 that “security remains stationed at the Pacific Palisades branch location 24/7.”

“Heavy debris remains on the site,” Shapiro said. “As a commercial property, the site also requires an environmental inspection before we can clear it, in accordance with local guidelines. Once these steps are performed and our contractors are allowed access, we will be reaching out to customers directly on next steps.”

For now, First Citizens Bank customers can reach out to the Santa Monica branch, which is located at 401 Wilshire Boulevard, at 310-459-2372 with any questions.

Carla Molina, SVP of external communications for Bank of America, told the Palisadian-Post on March 10 that the branch, following a permitting process and work from structural engineers and beyond, was able to move the safe deposit boxes at the branch to another location for customers to make appointments to go through the contents.

“My understanding is it’s gone very, very smoothly,” Molina said, adding that many “things were intact.”

Molina reported that a mobile ATM has been set up in the Palisades, but “given the amount of devastation,” Bank of America has “not been able to stand up a mobile financial center in the Palisades just yet.”

Bank of America has appointed Raul Anaya to oversee its “comprehensive response and rebuilding efforts.”

“As impacted areas become more accessible for residents and experts to enter, the full extent of damage is becoming clear,” Bank of America CEO Brian Moynihan said. “The recovery process for Angelenos and for Southern California will be very extensive in need, complexity and time. Public and private leaders will need to partner very closely. Financial institutions will play a critical role.”

City National Bank, which is located within Palisades Village, confirmed the branch sustained “smoke and water damage, which will need to be addressed before it can reopen,” on a timeline that will be worked out with Caruso.

On March 11, Caruso said there was no update available for when the branch would be reopening.

Updated information received from all bank branches will be available at palipost.com, as well as in future print editions.