Kiosk on bank property.

The Wells Fargo Bank branch on Beach Road closed its doors permanently in October 2025. Making for a bitter Irony: William G. Fargo — the company’s founder — lived in Monmouth Beach in the late 1800s.

Wells Fargo, the nation’s first coast-to-coast communications service started in 1852, is today a $270+ billion financial services company. Beginning in the early 1870s, Fargo was among a small group of very wealthy East Coast elites who came to a barren Monmouth Beach and built it into an all-private oasis — MORE HERE.

The bank’s demise in town is both sad and expected (branches in Red Bank, Spring Lake and WLB recently shut). And still the action brings opportunity — remaking downtown Monmouth Beach commence for the 21st century. Likely the borough’s most prime piece of commercial real estate — its future is in doubt. Time will tell what happens at  this most-conspicuous business location.

As a youth I opened my first passbook savings account there and remained all my adult life. I stayed for 50+ years through all the brand changes (Colonial National, First Fidelity, Sovereign, Wachovia to mention a few) and found them to be competent. I’ve never had any bad problems — but I don’t have much or ask for much. I also know the bank lost its way on “community outreach” a while ago. Bank officials admit that 75% of all its transactions now come via the 24/7 ATM.

“Banking is necessary. Banks are not.”
—Wells Fargo’s 2004 Annual Report

I believe it made poor use of its “Main Street” location. Several years ago the branch invested $250,000+ in a new drive-up window then abruptly and inexplicably shut it down. In a sense discouraging trade even while occupying the town’s most visible commercial location. Oh well.

Clearly, most people now bank digitally and bank foot traffic is fast declining. Banks are also much more corporate — if that’s possible? They are disconnected from citizens even in large communities, let alone small villages like Monmouth Beach. Too bad. There was a time when the borough’s bank was a key community player. Participating and sponsoring community events and recruiting prominent community members (public and private) to offer independent counsel on home loan applications. Most fundamentally, the bank helped many young, hard-working, and honest people to live a dream, Monmouth Beach home ownership — MORE HERE.

Upon its grand opening in June 1968, the then new Monmouth County National Bank on Beach Road offered that “an old friend becomes your new neighbor.” It boasted having “one of the area’s first drive-up windows” — tellers there from 8:30 am to 5:30 pm, weekdays and until 8 pm on Fridays. Lauras Follansbee was the first branch manager. All ancient history.

Monmouth Beach area residents who bank with Wells Fargo must now head north (into Rumson just over 5 miles) or south (down to West End just under 10 miles) for in-person attention (both have walk-in ATMs only). However, the bank has agreed to retain the drive-thru ATM at the Beach Road property for now.

Note: William Fargo really was an amazing guy. He also launched the American Express Company in 1850 (a $217 billion+ company today) and served as mayor of Buffalo before his 1881 death. His success is all the more inspiring in that he was born one of 12 children in rural New York and left school before age 13. And don’t fret that his name will disappear anytime soon — Wells Fargo still operates 4,200+ bank branches nationwide and 285+ in NJ.

Going, Going, Going …  Wells Fargo Bank at Beach Road and Borden Street, 2020s. This banking institution — brick-exterior, colonial-designed — ended financial activity in 2025 after 57 years.

The new Monmouth County National Bank, 1968.

Banker’s Hours — Both the borough zoning board and the board commissioners backed a variance to built the new bank, Asbury Park Press, September 1967.

Monmouth County National Bankmap location, Long Branch Daily Record, June 1968.