The Wells Fargo branch at 120 N. Pine Street, Langhorne, will soon close, joining the financial institution’s 49 other darkened regional locations this year. Jeff Blumenthal explained the thinking behind the shuttered locations in the Philadelphia Business Journal.

The bank has filed paperwork with the Office of the Comptroller of the Currency to notify the U.S. Treasury Department of its impending action.

Bank CEO Charles Scharf told investors last year that that $10 billion in costs needed to be trimmed to remain efficiently competitive in the Phila. area market.

Pulling the plug on the Langhorne location was not easy, according to a spokeswoman. She called it “not an easy decision or one that we take lightly.”

As with countless business decisions of this type, the COVID-19 pandemic is partly to blame. As customers took their banking needs virtual, the call for brick-and-mortar financial services dipped. Established brands such as TD Bank, PNC, and Santander have all trimmed traditional branches.

Since 2020, Wells Fargo has diminished its in-county branch presence in Perkasie, Croydon, and Fairless Hills.

More on this story is at the Philadelphia Business Journal.