Wells Fargo shuttering 2 more suburban Philadelphia branches

Wells Fargo has announced plans to close 11 more branches, including two in the Philadelphia region and another in the Lehigh Valley.

The affected locations cited in a March 15 filing with the Office of the Comptroller of the Currency are:

  • 120 N. Pine St., Langhorne
  • 1110 Chester Pike, Sharon Hill
  • 29 Trembley Drive, on the campus of Lehigh University in Bethlehem

The latest filing brings Wells Fargo to 49 announced closings this year and 66 locations actually shuttered almost a quarter of the way through 2022. The bank closed 311 last year after consolidating 329 of its 5,200 locations in 2020. CEO Charles Scharf told investors in July 2020 that the bank needed to shave $10 billion, or about 20%, off its annual cost base to rival efficiency at other banks.

*Article courtesy of Philadelphia Business Journal

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