First Interstate branch may close
The pending merger of Wells Fargo and First Interstate banks may result in the closure of the latter's only Sunnyvale branch.
Their official union, announced Jan. 24 and worth an estimated $11.6 billion, could take place as early as April, said Janet Otsuki, a Wells Fargo spokeswoman. About 300 Wells Fargo and First Interstate banks will close by the end of the year.
Although it's too early to tell which branches will close, the proximity of any given bank to other branches will be a factor in determining closures, she said.
First Interstate has only one branch in Sunnyvale, located at 296 S. Mathilda. The bank, which reportedly employs about 15 people, sits across the street from a Wells Fargo branch. The Wells Fargo employs about 25 people.
The First Interstate banks that remain open will assume the Wells Fargo name and all customers will be notified about any changes, Otsuki said.
Firm emerges from NASA incubator
The first major company to complete NASA's business incubator program is expected to graduate from the Sunnyvale facility today.
Real-Time Innovations Inc., which developed software tools for building real-time command and control applications, has already obtained more than $3.5 million in customer orders and contracts, said David Morse, spokesman for Ames Research Center.
The company will stay in Sunnyvale and employ 20 workers, he said.
RTI joined the incubator in January 1995.
This article appeared in the Sunnyvale Sun, January 31, 1996
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