A filing with the Office of the Comptroller of the Currency indicates that the Wells Fargo Ardmore branch is being withdrawn. The West Lancaster Avenue site is exiting with another branch in Hammonton, N.J. Jeff Blumenthal generated reader interest when he brought the story to the Philadelphia Business Journal.
The July plug-pulls come after a series of closures in June, when the financial services brand decommissioned branches in Langhorne, Sharon Hill, Jenkintown, Bethlehem, and Hamburg (Berks County).
Wells Fargo CEO Charles Scharf explained last year that the company needed to contain costs to remain competitive. That effort, combined with COVID-driven trends toward mobile banking, precipitated 26 branch closures in Southeastern Pa., N.J., and Del.
The darkened locations aren’t just an East Coast phenomenon, either. Nationwide, Wells Fargo’s consolidation efforts have winnowed 270 branches from its chain since 2020, the most of any U.S. bank.
More on the wider implications of the Wells Fargo Ardmore closing are at the Philadelpha Business Journal.