PNC Financial Services

PNC Financial Services Group, Inc. (stylized as PNC) is a bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 21 states and the District of Columbia with 2,296 branches and 9,051 ATMs. The company also provides financial services such as asset management, wealth management, estate planning, loan servicing, and information processing.[1]

The PNC Financial Services Group, Inc.
TypePublic
IndustryBanking
Financial services
Predecessor Pittsburgh National Corporation
Provident National Corporation
FoundedApril 10, 1845 (1845-04-10)
Operational: January 28, 1852 (1852-01-28)
Headquarters
Tower at PNC Plaza
Pittsburgh, Pennsylvania
,
U.S.
Number of locations
2,296 branches
Area served
Worldwide
Key people
William S. Demchak (CEO)
Robert Q. Reilly (CFO)
Revenue US$16.329 billion (2017)
US$5.338 billion (2017)
AUM US$282 billion (2017)
Total assets US$380.768 billion (2017)
Total equity US$47.585 billion (2017)
Number of employees
51,918 (2019)
Capital ratio11.6% Tier 1 capital (2017)
Websitepnc.com
Footnotes / references
[1]
Historic bank branch, located in Georgetown, Washington, D.C.
PNC Bank, Farmers, and Mechanics Branch (2018)
PNC Bank branch, located in the former headquarters of Riggs Bank on Pennsylvania Avenue, Washington, D.C.
PNC Bank branch, located in the historic National Bank of Washington building, in Washington, D.C.
PNC branch footprint, as of April 2015
PNC Bank Corporate Footprint
PNC Bank branch and offices in Southgate, Michigan.

PNC is on the list of largest banks in the United States by assets. It is the 5th largest bank by number of branches, 6th largest by deposits, and 4th largest in number of ATMs.[2]

The name "PNC" is derived from the initials of both of the bank's two predecessor companies: Pittsburgh National Corporation and Provident National Corporation, which merged in 1983.

Current operations

Retail banking

PNC Bank offers consumer and business banking services via 2,296 branches in Alabama, Colorado, Delaware, the District of Columbia, Florida, Georgia, Kentucky, Indiana, Illinois, Kansas, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, & Wisconsin.[1][3][4] The pending BBVA USA acquisition would boost its presence in Colorado and Texas significantly, complement their existing presence in Alabama and Florida, and introduce the bank to the Arizona, California, and New Mexico markets.[5]

PNC is one of the largest Small Business Administration lenders.[1]

Asset Management Group

PNC Asset Management Group (AMG) provides institutional asset management and wealth management services to high-net-worth individuals and has approximately $282 billion in assets under administration, of which $151 billion is directly under management.[1] PNC Wealth Management is the 16th largest wealth management firm with $48.8 billion in private client assets under management.[1] Hawthorn Family Wealth provides asset management services for family offices with over $20 million in net worth and directly oversaw almost $31 billion as of 2017.[6]

Lending

As of December 31, 2017, PNC had $220 billion in outstanding loans, including $147 billion in commercial loans and $73 billion in consumer loans.[1]

Credit cards

As of December 31, 2017, PNC had $5.3 billion in outstanding credit card loans.[1] In 2016, PNC ranked as the 12th largest credit card issuer, with $33 billion in purchase volume.[7]

PNC Business Credit

Operating out of offices in the United States, Canada, and the United Kingdom, PNC Business Credit provides asset-based lending to private equity firms and middle market companies.

Corporate and Institutional Banking/Harris Williams & Co

PNC operates one of the largest treasury management businesses and the second largest lead arranger of asset-based loan syndications in the United States. Harris Williams & Co., a subsidiary of the company, is one of the country's largest mergers and acquisitions advisory firms for middle-market companies.

Residential mortgages

PNC Mortgage (formerly National City Mortgage) is credited with the first mortgage in the United States and has offices across the country. The company had $17.212 billion in mortgage loans outstanding as of December 31, 2017.[1]

This is the second mortgage division to be named PNC Mortgage. In 2001, PNC sold the original PNC Mortgage to Washington Mutual due to volatility in the market.[8] In 2005, PNC began outsourcing mortgages to Wells Fargo until the National City deal.[9]

Auto and student loans

As of December 31, 2017, PNC had $12.9 billion in car finance loans and $5 billion in student loans outstanding.[1]

Commercial real estate lending

PNC provides acquisition, development, and permanent financing for commercial and real estate clients including term loans and treasury management and capital markets services.

PNC is ranked 7th on the list of largest direct lenders by National Real Estate Investor, with $16.9 billion in annual real estate lending.[10]

Midland Loan Services

Midland Loan Services, a division of PNC Real Estate, is a third-party provider of service and technology for the commercial real estate finance industry. It specializes in commercial loan and CMBS portfolio servicing. Founded in 1991, its headquarters are in Overland Park, Kansas.

PNC/Midland is ranked by Mortgage Bankers Association as the 2nd largest master and primary servicer of commercial bank and savings institution loans.[11]

History
1970s-era Pittsburgh National Bank logo, used until the 1982 merger to form PNC Bank.
PNC's offices in Troy, Michigan.

PNC Financial Services traces its history to the Pittsburgh Trust and Savings Company which was founded in Pittsburgh, Pennsylvania on April 10, 1845.[12][13] Due to the long recovery from the Great Fire of Pittsburgh, PNC was not fully operational until January 28, 1852.[14] It originally opened offices at Liberty Avenue and 12th Street. The bank was renamed The Pittsburgh Trust Company in 1853.[15] In 1858, the company located its corporate offices to the corner of Fifth Avenue and Wood Street in Pittsburgh, where they remain to this day. The bank changed its name to First National Bank of Pittsburgh in 1863 after it became the first bank in the country to apply for a national charter[12] as part of that year's National Banking Act. It received the 48th charter on August 5, 1863, with other later banks receiving charters sooner due to paperwork problems and the fact that the bank was already in business.[12][15]

In 1946, First National merged with Peoples-Pittsburgh Trust Company, with whom it had worked closely since the 1930s, to form Peoples First National Bank & Trust. In 1959, Peoples First merged with Fidelity Trust Company to form Pittsburgh National Bank. At this time, the bank adopted the first version of its present logo–a stylized triangle representing the Golden Triangle.[16][17] In 1969, the bank reorganized as a holding company, Pittsburgh National Corporation.

Another branch of the current bank, the Philadelphia-based Provident National Corporation, dates back to 1865.[18]

In 1982, Pittsburgh National Corporation and Provident National Corporation merged into a new entity named PNC Financial Corporation. It was the largest bank merger in American history at the time and created a company with $10.3 billion in assets.[19][20] Between 1991 and 1996, PNC purchased more than ten smaller banks and financial institutions that broadened its market base from Kentucky to the New York metropolitan area.

In 1998, PNC acquired Hilliard Lyons for $275 million in cash and stock.[21] Hilliard Lyons was sold in 2008.[22]

In 1998, PNC sold its credit card business to Metris (now HSBC Finance)[23] and MBNA.[24]

In 2000, the company adopted a new brand image and changed its name to PNC Financial Services Group.[25]

In 2004, PNC acquired United National Bancorp based in Bridgewater, New Jersey for $321 million in cash and 6.6 million shares of its common stock.[26]

In 2005, PNC acquired Riggs National Corporation of Washington, D. C. Riggs had been fined after aiding Chilean dictator Augusto Pinochet in money laundering.[27][28] At one stroke, PNC became one of the largest banks in the Washington metropolitan area.

In August 2006, PNC got back into the credit card business by marketing and issuing credit cards under the MasterCard brand in partnership with U.S. Bancorp.[29] After the National City merger in 2008, the U.S. Bancorp products were converted to PNC Bank products.

On March 2, 2007, PNC acquired Maryland-based Mercantile Bankshares, making PNC the 8th largest bank in the United States by deposits.[28][30][31]

On October 26, 2007, PNC acquired Yardville National Bancorp, a small commercial bank centered in central New Jersey and eastern Pennsylvania.[28][32]

On September 15, 2007, PNC Bank acquired Citizens National Bank of Laurel, Maryland.[33]

On April 4, 2008, PNC acquired Sterling Financial Corporation, a commercial and consumer bank with accounts and branches in central Pennsylvania, northeastern Maryland and Delaware.[28][34]

On October 24, 2008, during the financial crisis of 2007-2008, the National City acquisition by PNC for $5.2 billion in stock was completed.[35] The acquisition was financed with preferred stock sold to the United States Treasury as part of the Troubled Asset Relief Program implemented as part of the Emergency Economic Stabilization Act of 2008.[36] The stock issued to the U.S. Treasury was repurchased in 2010.[37] PNC then became the 6th largest bank in the United States by deposit and 5th largest by branches.[38][39]

On August 14, 2009, PNC took over Dwelling House Savings & Loan and its only branch location in Pittsburgh's Hill District after Dwelling House suffered from bank failure and was placed under receivership by the Federal Deposit Insurance Corporation (FDIC).[40] Dwelling House had been known in Pittsburgh to provide low-income African Americans loans that other banks would deny. The branch was closed and accounts were transferred to the existing PNC branch in the Hill District.[41]

In July 2010, PNC sold its Global Investment Servicing (GIS) subsidiary to The Bank of New York Mellon to repay funds from the Troubled Asset Relief Program, which were used for the National City acquisition.[42] GIS, established in 1973 and with 4,700 employees, was the second-largest full-service mutual fund transfer agent in the U.S and the second-largest full-service accounting and administration provider to U.S. mutual funds. GIS serviced $1.9 trillion in total assets and 58 million shareholder accounts. It was known as PFPC until July 2008.[43]

In January 2011, PNC acquired BankAtlantic's Tampa Bay Area branches.[44][45]

In December 2011, PNC acquired 27 branches in the northern Atlanta suburbs with $240 million in deposits and $42 million in book value from Flagstar Bank.[46][47][48]

In 2012, PNC acquired RBC Bank from Royal Bank of Canada for $3.45 billion.[49][50][51] RBC Bank had a 426 branches in southern Virginia, North Carolina, South Carolina, Georgia, Alabama, and Florida. It made PNC the 5th largest bank by branches behind Wells Fargo, Bank of America, Chase, and U.S. Bancorp and the 6th largest by total assets behind the aforementioned four banks and Citibank.[49]

On July 30, 2012, PNC announced plans to put ATMs in 138 Harris Teeter grocery stores in the Carolinas, plus 53 other stores.[52][53]

In September 2014, PNC acquired Solebury Capital Group, a capital markets advisory firm, for $50 million.[54]

On October 2, 2015, the Tower at PNC Plaza, the bank's new headquarters on the corner of Fifth Avenue and Wood Street in Downtown Pittsburgh opened.[55] It was first announced in 2011.[56] The building, owned by PNC and designed by Gensler, won awards for its environmentally friendly features.[57]

In April 2017, the company acquired the U.S. equipment finance business of ECN Capital for $1.3 billion.[58][59]

In November 2017, the company acquired The Trout Group, an investor relations and strategic advisory firm servicing the healthcare industry.[60][61]

In 2018, the company acquired Fortis Advisors, which provides post-merger shareholder services.[62][63] The company ranked 165th on the 2018 Fortune 500 list of the largest United States corporations by revenue.[64]

In 2018, PNC began opening "Solution Centers", a hybrid between traditional bank branches and ATM-only services, mostly serving new markets. Through this method, PNC expanded its retail footprint organically into Boston, Denver, Kansas City, Nashville, and several markets in Texas including Austin, Dallas, Houston, & San Antonio.[4] Two of PNC's "Big Four" competitors, Bank of America and Chase Bank, have both also been expanding organically into new markets through this method, including into PNC's home market of Pittsburgh.

In May 2020, the company sold its stake in BlackRock.[65]

On November 16, 2020, PNC agreed to acquire BBVA USA for $11.6 billion in cash.[66]

Overcharging of Black and Hispanic borrowers by National City

In December 2013, the Department of Justice and the Consumer Financial Protection Bureau announced that they had reached an agreement with National City Bank to resolve allegations that the bank had charged Black and Hispanic borrowers higher prices for mortgages between 2002 and 2008, before the acquisition by PNC. Regulators claimed that National City had violated the Fair Housing Act and Equal Credit Opportunity Act by charging more than 75,000 borrowers higher loan rates based on their race or ethnicity rather than their risk level. National City's lack of pricing guidelines resulted in black borrowers being charged an average of $159 more in extra upfront fees or higher interest than white borrowers. Black borrowers also paid an average of $228 more annually over the life of the loan than white borrowers. Hispanics paid $125 more upfront and $154 more annually than white borrowers. Under the terms of the settlement, PNC was required to pay victims $35 million.[67]

Retailer breach forced PNC to reissue customer cards

In March 2006, PNC and other large banks were forced to reissue hundreds of debit cards to customers after card numbers were disclosed by a breach at an unknown retailer.[68]

Lawsuit from Military Channel

Also in March 2006, PNC Bank was sued by Paul Bariteau, an investor in the Military Channel. Bariteau claimed PNC let the chairman of the Military Channel make unauthorized withdrawals of millions of dollars from the company's account for personal use.[69]

Securities fraud settlement

In June 2003, PNC Bank agreed to pay $115 million to settle federal securities fraud charges after one of its subsidiaries fraudulently transferred $762 million in bad loans and other venture capital investments to an AIG entity in order to conceal them from investors.[70]

Overtime claim by loan officers

In 2017, PNC agreed to pay $16 million to settle claims of overtime wages by loan officers under the Fair Labor Standards Act.[71]

National Prearranged Services Fraud

According to a lawsuit, funds entrusted to National Prearranged Services (NPS), a St. Louis-based company that sold prepaid funerals, were diverted and embezzled. PNC Bank is the successor to Allegiant Bank, which served as a trustee for NPS from 1998 to 2004. In 2015, a jury ordered PNC to pay $391 million.[72] In 2017, a federal judge overturned the decision.[73]

Municipal bonds disclosure violations

In 2015, PNC was one of 22 companies that violated disclosure requirements for municipal bonds by failing to divulge that the issuers had filed late financial reports. It was fined $500,000.[74]

Community initiatives

PNC has sponsored several initiatives to improve education, health and human services, cultural activities and the arts. These include "PNC Grow Up Great", a commitment to early childhood development, the "PNC Foundation", and community development investments.[75]

Since 1984, PNC has compiled the Christmas Price Index, a humorous economic indicator which estimates the prices of the items found in the song "The Twelve Days of Christmas".[76]

In 2012, PNC opened the PNC Fairfax Connection, a community center in Cleveland, Ohio.[77]

Controversies

Mountaintop Mining

The Earth Quaker Action Team, led by George Lakey, requested that PNC divest in mountaintop mining projects in March 2010. The Quakers were especially sensitive to PNC's investments, as it was informally referred to as "The Quaker Bank," due to the fact that Provident Life & Trust Company had been founded by Quakers.[78] After the bank ignored their request, EQAT began to protest. On 29 September 2010, EQAT along with some Swarthmore College students, members of the Rainforest Action Network and Reverend Billy and the Church of Stop Shopping protested at a PNC bank in Washington, D.C. by building a small mountain made of dirt. Police arrested the leader George Lakey and three others. "In October of 2010, PNC announced that they would stop loaning money to companies that gained over 50% of their coal from mountaintop removal. However, none of the companies with which PNC conducted business produced that much coal via mountaintop removal, and thus the new policy did not represent change. Soon after the bank’s new commitment, PNC gave money to Massey Energy, a company found responsible for poor safety conditions that led to the deaths of thirty-one miners in April 2009. Unsatisfied by PNC’s ineffective policy, EQAT staged another protest on 17 December 2010. Protesters sang Christmas carols while delivering stockings full of coal to a PNC Bank in Media, Pennsylvania." [79]

Students at Temple University and Swarthmore College held sit-ins to protest the bank, and EQAT next protested PNC by conducting Quaker-style worship (sitting in silence until let to speak) during a shareholders meeting in D.C. "At the end of the meeting, the activists gave a gift bag to CEO James Rohr with a framed picture of the Appalachian Mountains and a pamphlet about the dangers of mountaintop removal." [80]

Over time, protests became more and more elaborate and creative. September 22, 2011, EQAT charged PNC with "impersonating a green bank" and held a trial in the PNC lobby. Two weeks later, they held a "die-in" alongside activists from Occupy Philadelphia, where protesters acted dead by laying on the floor of a PNC bank. December 6, 2011, police arrested five EQAT members for constructing windmills (a clean alternative to coal) inside of the downtown PNC bank. In February 2012, EQAT convinced various Quaker groups to withdraw nearly two million dollars (later increased to over three million) invested with PNC, and in April of that year, EQAT along with students from various colleges, protested by dancing to bluegrass music next to the University of Pennsylvania’s PNC campus branch. April 30, 2012, EQAT members began a 200-mile walk from Philadelphia to the PNC Bank headquarters in Pittsburgh. EQAT held a series of protests at PNC branches along the way. [81] In October 2012, activist students began to approach PNC bank managers, asking them to drink well water from affected communities in Appalachia.

On March 14, 2013, EQAT members began a collective 40-day fast (not all members fasted the entire time), making their fasts public through social media. During the fast, members publicly protested dressed in traditional Quaker costumes when the Philadelphia Chamber of Congress awarding PNC's J. William Mills with the William Penn Award. The fast ended on 23 April with a worship session in the middle of a PNC shareholder meeting. On October 21, 2013, EQAT staged the largest bank branch protest in U.S. history. Activists protested by holding silent worship inside sixteen PNC bank branches, most of which were in Pittsburgh, leading many of the branches to shut down for the day. Seven protesters were arrested by Pittsburgh police after refusing to leave.

By 2014, the movement had spread across the country. Protesters again held Quaker worship inside of the PNC shareholders meeting, despite the fact that the location had been moved to Tampa, Florida. On December 6, 2014, thirty protests were held in branches across twelve states.[82] Finally in February 2015, after five years and 125 separate protests, PNC Bank announced it would officially stop investing in mountaintop removal coal mining. [83]

Notable corporate buildings
One PNC Plaza. PNC's former corporate headquarters in Downtown Pittsburgh.
Outside a branch in Freeport, Pennsylvania.

Naming rights and sponsorships

PNC owns corporate naming rights to the following:

PNC is a sponsor of:

Chief executives
  • William S. Demchak April 23, 2013 – present[86]
  • James Rohr CEO May 1, 2000 – April 23, 2013, Chairman May 2001 – April 2014
  • Thomas H. O'Brien CEO of PNC April 1, 1985[87][88] – May 1, 2000[89]
    • Robert C. Milsom CEO of Pittsburgh National 1985 – December 31, 1989[90]
  • Merle E. Gilliand November 1968[91] – April 1, 1985[92]

See also
  •  Companies portal
  •  Banks portal

References
  1. "The PNC Financial Services Group, Inc. 2019 Annual Report (Form 10-K)". sec.gov. U.S. Securities and Exchange Commission.
  2. Bell, Claes (March 21, 2017). "10 Banks With The Most ATMs". Bankrate.
  3. "Corporate Profile" (PDF). PNC Bank. Retrieved 3 January 2020.
  4. https://www.pnc.com/insights/our-commitments/customers/pnc-solution-centers-blends-physical-digital-banking.html
  5. https://thefinancialbrand.com/104331/pnc-bbva-merger-acquisition-branch-expansion-trend-digital-demchak/
  6. Schultz, Abby (December 16, 2017). "Family Lessons Learned, From Hawthorn, PNC Family Wealth's Nicole Perkins". Barron's.
  7. Comoreanu, Alina (February 10, 2017). "Market Share by Credit Card Issuer". WalletHub.
  8. "PNC sells mortgage division". American City Business Journals. February 1, 2001.
  9. Killian, Erin (September 15, 2005). "Wells Fargo, PNC partner in local home-mortgage venture". American City Business Journals.
  10. "Top Direct Lenders". National Real Estate Investor.
  11. "MBA Releases 2017 Year-End Commercial/Multifamily Servicer Rankings" (Press release). Mortgage Bankers Association. February 11, 2018.
  12. Thurston, George Henry (1 January 1888). Allegheny County's Hundred Years. A. A. Anderson & Son, book and job printers. Retrieved 12 April 2017 – via Internet Archive.
  13. Thurston, George H. (1888). Allegheny county's hundred years. Pittsburgh: University of Pittsburgh, Digital Research Library. p. 258.
  14. "An Important Anniversary". Pittsburgh Press. January 29, 1909 – via Google.
  15. White, Edward (1903). A century of banking in Pittsburgh. Pittsburgh, Pennsylvania: University of Pittsburgh, Digital Research Library. p. 19.
  16. PNC corporate history
  17. Sabatini, Patricia (August 10, 1999). "Obituaries: Ex-bank executive and hospital trustee". Pittsburgh Post-Gazette – via Google.
  18. "PNC Predecessor Banks: Provident National Corporation". Archived from the original on 2019-02-16. Retrieved 2017-04-13.
  19. "BANKING MERGERS FLOURISH". The New York Times. November 3, 1982.
  20. "The merger of two bank holding companies was announced". United Press International. April 19, 1982.
  21. Murray, Matt (August 21, 1998). "PNC Bank to Buy Hilliard-Lyons For $275 Million in Cash and Stock". The Wall Street Journal.
  22. "PNC's sale of Hilliard Lyons completed". American City Business Journals. April 1, 2008.
  23. "COMPANY NEWS; METRIS TO BUY $1 BILLION IN CREDIT CARD LOANS FROM PNC". The New York Times. Bloomberg News. September 9, 1998.
  24. "COMPANY NEWS; MBNA IS BUYING PNC BANK'S CREDIT CARD OPERATIONS". The New York Times. Dow Jones. December 24, 1998.
  25. "Battle of the banks: Key dates in PNC and Dollar's history". Pittsburgh Post-Gazette. July 16, 2002.
  26. "PNC buys United National Bancorp". American City Business Journals. January 2, 2004.
  27. O'Hara, Terence (February 11, 2005). "Riggs, PNC Reach New Merger Agreement". The Washington Post.
  28. "PNC: Acquired Companies". Archived from the original on 2017-03-10. Retrieved 2017-04-13.
  29. Sabatini, Patricia (August 29, 2006). "PNC tries new credit cards, old strategy". Pittsburgh Post-Gazette.
  30. Fitzpatrick, Dan (October 10, 2006). "PNC buying Maryland bank in $6 billion deal". Pittsburgh Post-Gazette.
  31. "The PNC Financial Services Group Completes Acquisition of Mercantile Bankshares Corporation" (Press release). PR Newswire. March 2, 2007.
  32. "PNC Completes Acquisition Of Yardville National Bancorp" (Press release). PR Newswire. October 26, 2007.
  33. "Institution History for Laurel Main Street Branch (229427)". Federal Financial Institutions Examination Council.
  34. "PNC Completes Acquisition of Sterling Financial Corporation" (Press release). PR Newswire. April 4, 2008.
  35. Dash, Eric (October 24, 2008). "PNC Gets National City in Latest Bank Acquisition". The New York Times.
  36. FITZPATRICK, DAN; ENRICH, DAVID; PALETTA, DAMIAN (October 25, 2008). "PNC Buys National City in Bank Shakeout". The Wall Street Journal.
  37. "PNC to Repay TARP Money After Sale of Unit". The New York Times. February 2, 2010.
  38. "PNC to Acquire National City" (Press release). PR Newswire. October 24, 2008.
  39. Gordon, Paul (June 22, 2010). "National City conversion to PNC is complete". Journal Star.
  40. Boselovic, Len (August 14, 2009). "PNC to take over troubled Dwelling House". Pittsburgh Post-Gazette.
  41. Grant, Tim (August 18, 2009). "Dwelling House accounts moved to PNC". Pittsburgh Post-Gazette.
  42. "BNY Mellon Completes Acquisition of PNC's Global Investment Servicing Business" (Press release). PR Newswire. July 1, 2010.
  43. "PFPC Becomes PNC Global Investment Servicing" (Press release). Business Wire. July 14, 2008.
  44. Harrington, Jeff (January 31, 2011). "PNC enters Tampa Bay market, buying 19 BankAtlantic branches". Tampa Bay Times.
  45. Sharma, Abhinav (January 31, 2011). "BankAtlantic to sell 19 branches to PNC Bank". Reuters.
  46. Peters, Andy (July 26, 2011). "PNC Completes Deal for Flagstar's Atlanta Branches". American Banker.
  47. "PNC Bank to acquire 27 metro ATL Flagstar branches". American City Business Journals. July 26, 2011.
  48. "PNC Announces Agreement to Acquire 27 Branches from Flagstar" (Press release). PR Newswire. July 26, 2011.
  49. Delano, Jon (June 20, 2011). "PNC To Acquire RBC's United States Unit". CBS.
  50. "PNC to Buy R.B.C. Unit for $3.5 Billion". The New York Times. June 19, 2011.
  51. Bansal, Paritosh (June 19, 2011). "PNC to buy RBC unit for $3.45 billion". Reuters.
  52. "PNC Bank Expands ATM Access to 191 Harris Teeter stores" (Press release). PR Newswire. July 30, 2012.
  53. "PNC Bank adds ATMs in 191 Harris Teeter stores". American City Business Journals. July 30, 2012.
  54. Tascarella, Patty (September 30, 2014). "PNC buying IPO consulting firm". American City Business Journals.
  55. Belko, Mark (October 1, 2015). "PNC shows off tower, its crown jewel". Pittsburgh Post-Gazette.
  56. "Pnc Announces Plans For World's Greenest Skyscraper" (Press release). PR Newswire. May 23, 2011.
  57. Berg, Nate (July 15, 2016). "Award: The Tower at PNC Plaza". American Institute of Architects.
  58. "ECN Capital Completes Sale of US Equipment Finance Business to PNC" (Press release). Marketwired. April 3, 2017.
  59. FLEISHER, CHRIS (September 29, 2014). "With acquisition, PNC set to enter IPO market". Pittsburgh Tribune-Review.
  60. "PNC Bank Announces Definitive Agreement to Acquire The Trout Group, LLC" (Press release). PR Newswire. November 27, 2017.
  61. Tascarella, Patty (November 27, 2017). "Why PNC reeled in Trout". American City Business Journals.
  62. "PNC Bank Announces Definitive Agreement To Acquire Fortis Advisors" (Press release). PR Newswire. December 20, 2017.
  63. Tascarella, Patty (December 20, 2017). "PNC buying Fortis Advisors". American City Business Journals.
  64. "Fortune 500 Companies 2018: Who Made the List". Fortune. Retrieved 2018-11-21.
  65. SABATINI, PATRICIA (May 15, 2020). "PNC sells Blackrock stake for $14.4 billion". Pittsburgh Post-Gazette.
  66. "PNC to buy BBVA's U.S. banking arm for $11.6 billion in cash". Reuters. November 16, 2020.
  67. "CFPB and DOJ Take Action Against National City Bank for Discriminatory Mortgage Pricing" (Press release). Consumer Financial Protection Bureau. December 23, 2013.
  68. Kantor, Andrew (March 16, 2006). "USA Today Cyberspeak". USA Today.
  69. "BARITEAU V. PNC FINANCIAL SERVICES GROUP, INC. (W.D.KY. 10-30-2006)". casetext. October 30, 2006.
  70. "AIG Agrees to Settle Fraud Cases". Los Angeles Times. Associated Press. November 24, 2004.
  71. Lee, Suevon (January 5, 2017). "APNC To Pay $16M To Settle Loan Officers' Wage Claims". Law360.
  72. Kurane, Supriya (March 10, 2015). "U.S. jury orders PNC Bank to pay $391 million in funeral scam case". Reuters.
  73. Patrick, Robert (August 17, 2017). "Federal appeals court overturns $491 million jury award in prepaid funeral company fraud". St. Louis Post-Dispatch.
  74. "SEC Sanctions 22 Underwriting Firms for Fraudulent Municipal Bond Offerings" (Press release). U.S. Securities and Exchange Commission. September 30, 2015.
  75. "Our Philanthropic Efforts". PNC.
  76. "Holiday Cheer: '12 Days of Christmas' Gifts Rise Just 0.6 Percent In Price, According To PNC" (Press release). PR Newswire. November 15, 2017.
  77. "PNC Fairfax Connection". PNC Fairfax Connection.
  78. "PROVIDENT NATIONAL BANK". Busy Beaver Button Museum.
  79. "Earth Quaker Action Team Campaigns Against PNC Bank for Financing Mountaintop Removal Coal Mining 2010-2015". Global Nonviolent Action Database. September 27, 2015.
  80. "Earth Quaker Action Team Campaigns Against PNC Bank for Financing Mountaintop Removal Coal Mining 2010-2015". Global Nonviolent Action Database. September 27, 2015.
  81. "Quaker group, walking from Philadelphia to Pittsburgh, protests in front of PNC Bank". PennLive. May 2012.
  82. "Earth Quaker Action Team Campaigns Against PNC Bank for Financing Mountaintop Removal Coal Mining 2010-2015". Global Nonviolent Action Database. September 27, 2015.
  83. "How a Small Group of Quaker Activists Took on PNC Bank and Won". quakerspeak.com.
  84. Bernstein, Rachel (2011-08-21). "PNC Gets Naming Rights for Mount St Mary's Sports Complex". Daily Record.
  85. cite web |last1=Press Release |title=Stars, American Airlines Center, PNC Bank announce multi-year partnership |url=https://www.nhl.com/stars/news/dallas-stars-american-airlines-center-pnc-bank-announce-multi-year-partnership/c-319737284 |website=NHL.com |access-date=2020-12-01
  86. Marcinek, Laura (February 15, 2013). "PNC Names Demchak to Succeed Rohr as Bank's CEO". Bloomberg News.
  87. "Pittsburgh National Bank gets new management team". Pittsburgh Press. March 22, 1985 – via Google.
  88. "O'Brien Named Chairman". Pittsburgh Post-Gazette. June 11, 1988 – via Google.
  89. "O'Brien retiring, Rohr to lead PNC". post-gazette.com. Retrieved 12 April 2017.
  90. "Pittsburgh National Chairman Announces". Beaver County Times. December 22, 1989 – via Google.
  91. "Simpson's Leader-Times from Kittanning, Pennsylvania on November 9, 1968 - Page 13". newspapers.com. November 9, 1968.
  92. "Merle E. Gilliand, 76, Chairman Who Led Growth of PNC Bank". The New York Times. December 11, 1998 – via Google.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.