PNC Bank is increasing its branch investment by $500 million to open more than 100 additional new branches and renovate 200 more existing locations across the country. These plans expand upon the 100 new locations and 1,200 branch renovations the company announced in February. This brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
In addition to building new branches as previously announced in Austin, Dallas, Denver, Houston, Miami and San Antonio, PNC will now expand its branch network throughout Atlanta, Charlotte, Orlando, Phoenix, Raleigh and Tampa. The bank will also expand the number of new branches it will build in Miami. These new locations will all be staffed with skilled bankers.
“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. 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,” Alex Overstrom, head of retail banking at PNC Bank, said. “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. 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.”
