Pittsburgh-based PNC Bank is adding to its national footprint by investing $500 million to open new branches and make renovations to existing branches around the country.
Through this $500 million investment, PNC plans to open more than 100 additional new branches and renovate 200 more existing locations across the country. This latest round of investments will result in new branches throughout Atlanta, Charlotte, Orlando, Phoenix, Raleigh and Tampa.
It expands on a plan announced in February to open 100 new locations and renovate 1,200 branches in Austin, Dallas, Denver, Houston, Miami, and San Antonio.
Currently, the bank is investing approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years. PNC Bank will also renovate 1,400 existing branches during the same time period.
“We fully understand that our branches play a crucial role in how we provide solutions and financial advice to the millions of clients that walk through our doors each month,” Alex Overstrom, head of Retail Banking, PNC Bank, said. “Building on the scale of our current platform, today’s announcement further underscores our commitment to continuously invest in our branch network and empower our clients with convenient, in-person access to local financial experts.”
With more than 2,200 branches across the country, PNC Bank has the fourth largest branch network in the United States. In addition, the bank serves clients through more than 60,000 PNC and partner ATMs nationwide as well as through online and mobile banking platforms and its customer care center.
Further, the company has 22 mobile branches that partner with community organizations to expand banking access to low-and-moderate-income communities and areas devastated by natural disasters.
“While we offer our clients a variety of different ways to interact with us, our branches continue to be the heartbeat of our Retail franchise,” said Overstrom. “We’re beyond excited about this plan to create greater access to PNC in these important markets and ultimately to play a role in improving the financial health of our clients in the communities where our team members live and work.”