Two Banks Won’t Observe King Holiday

Two major banks have joined the ranks of California companies that will not observe the Martin Luther King Day holiday this year.

For the first time since 1986, when King’s birthday was first observed as a national holiday, Wells Fargo and Security Pacific banks will be open on Monday.

Some civil rights officials are concerned about “retrenchment” in observance of the holiday, but bank officials said they are simply responding to pressure to serve customers with longer hours.

Many banks, including Security Pacific and Wells Fargo, have also started opening on Saturdays in the last year. Some even do business on Sundays.

“We’re trying to be more like a retailer,” said Lisa Hoogerwerf, a Wells Fargo spokeswoman.

Security Pacific’s corporate offices will be closed Monday, said Richard Warner, executive vice president. Employees in offices that will be open were only notified on Monday evening that they would have to work that day, he said. However, those who wish to observe the holiday may take it off as a vacation day.

Security Pacific and Wells Fargo, like many retailers, also stay open on Presidents Day, Columbus Day and Veterans Day.

“We just think it’s important to give people access to their accounts on those days,” Warner said.

But Mark Ridley-Thomas, executive director of the Los Angeles Southern Christian Leadership Conference, said he isn’t pleased.

“I am concerned about retrenchment. . . . This is an act of retrenchment that we find totally unacceptable,” said Thomas.

Thomas said he recognizes that most supermarkets and department stores will be open on Monday but said he cannot understand why a bank would be open on King’s birthday--the only U.S. holiday “that celebrates peace and justice.”