PNC is separating from additional branches, now 75% in direction of the 2021 consolidation goal – WPXI
PITTSBURGH – Pittsburgh’s largest bank plans to close an additional seven branches, which, if announced to the 14 in a regulatory filing, will bring the number to 21 or the year-to-date number to 89. That is 75% of the way to achieve a previously declared goal with a third by 2021.
PNC Financial Services Group Inc.’s newest locations on the chopping block are in Brentwood, Missouri; Bridgeville and Wilmington, Delaware; Indianapolis; North Brunswick, New Jersey; Springfield, Illinois; and Lansing, Michigan. The 14 closure requests filed with the Office of the Comptroller of the Currency last week were mostly centered in Alabama and overlapped due to the recent completion of the Houston-based acquisition of BBVA USA Bancshares, although one was in Warren, north of Pittsburgh.
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PNC (NYSE: PNC) announced last fall that it would close 120 stores in 2021 as more customers switch to digital transactions, an ongoing trend that accelerated in the first few months of the Covid-19 pandemic. That was before the BBVA deal was announced in November, but when the goals have changed they haven’t been made public.
Read more from our news partners in the Pittsburgh Business Times.