LITTLE ROCK Wells Fargo says it will this month open a commercial banking office in Little Rock because of "strong growth" in Arkansas.
The company said Monday in a news release that the new center would be lead by Kevin Handley, a senior vice president and regional vice president previously based in St. Louis.
"Wells Fargo has seen substantial growth opportunities in Arkansas since the economic recovery, especially in manufacturing, agriculture, and government," Handley said in the release. "We're excited to be closer to our customers here, and to be able to help them grow."
Wells Fargo said the "strong growth" in the state motivated its decision to open in Arkansas rather than serving customers here through St. Louis and Kansas City, Mo., offices, as it has done previously.
The new office will initially open at the Wells Fargo Advisors building, 12921 Cantrell Road, before relocating to its own facility by roughly the middle of the year.
Wells Fargo Commercial Bank serves middle market businesses with sales above $20 million a year, the bank said. Traditional commercial banking services, technologically advanced treasury management, asset-based lending and specialized lending for government, food and agriculture will be offered at the new office.