Chester now only has one bank, TD Bank, with a retail location to serve 33,000 residents, writes Jeff Blumenthal for Philadelphia Business Journal.

Wells Fargo Bank is closing its branch on June 21 at 501 Avenue of the States in Chester.

It attributed the closure to changing customer needs, an increase in digital banking, market factors, and economic trends.

Lisa Gaffney, executive director of the Chester Economic Development Authority, was surprised Wells Fargo didn’t let city government know it was closing since so many people use the branch.

Losing the branch means no bank or credit union in Chester’s business district.

“It just leaves a banking hole because not everyone is going to be able to do online banking and not everyone’s comfortable with it,” Gaffney said. “Not everybody has a computer. Not everybody has great Internet service in the city.

It will also be harder for small businesses that want to handle business loans face-to-face.

Gaffney noted activity has picked up recently in the central business district.

There’s a robust artist community and small business owners are looking to expand while others are buying up properties.

Read more about Wells Fargo Bank closing its branch in Chester in the Philadelphia Business Journal.