Wells Fargo completes takeover of Brenton Banks

Wells Fargo and Company has completed the acquisition of Des Moines-based Brenton Banks. Wells Fargo Iowa operations chairman Lynn Horak says the company will close eight of its 83 offices in the state.They’re closing offices that are located very close to each other. That includes; four offices in Des Moines, one each in Cedar Rapids and Marshalltown, and two in the Quad Cities. Horak says he doesn’t expect to lose any employees in the consolidation, as they all will be offered jobs within the company.Horak says they won’t immediately convert the 31 Brenton offices to the Wells Fargo name and logo, they will wait until March 23 of 2001 to change the names. The acquisition makes Wells Fargo the largest banking company in Iowa.