Wells Fargo Closing 21 More Branches, Including Two in the Philadelphia Area

Wells Fargo & Co. will close 21 more branches, including locations in Philadelphia and Gloucester counties, as part of its broader plan to cut billions of dollars in costs to keep pace with its rivals.

The impacted branches include locations at 5119 Frankford Ave. in the Frankford section of Philadelphia and 101 Vera King Ferris Drive in Galloway, New Jersey.

They are among a batch of locations San Francisco-based Wells Fargo (NYSE: WFC) filed to close on May 11 with the Office of the Comptroller of the Currency. Other sites are in Maryland, Arizona, Virginia, Georgia, New York, Connecticut, Utah, Illinois, Colorado and South Carolina.

This is the latest batch of closings and brings the current total to 160 applications received from Wells by the OCC so far in 2021. Earlier this year, the bank announced plans to close locations in front of the King of Prussia Mall at 694 W. Dekalb Pike, on the campus of Villanova University at 800 E. Lancaster Ave., at 5458 Germantown Ave. in Germantown and 2300 Snyder Ave. in South Philadelphia, as well as one in Lancaster County and two in Berks County.

*Article courtesy of Philadelphia Business Journal

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