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Bank
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About PNC
Bank:
PNC Financial Services Group,
Inc. is a U.S.-based financial servicescorporation, with assets (as of December 31, 2010) of approximately $264.3 billion.[1] PNC operations include a regional banking franchise operating primarily in fifteen
states and the District of Columbia, specialized financial
businesses serving companies and government entities, and leading Turnkey Asset Management Program
(TAMP) and processing businesses. PNC is the sixth largest bank by deposits in the
United States[2] and is the third largest bank off-premise ATM provider.[3]
PNC Financial Services traces its history to
the Pittsburgh Trust and Savings
Company which was founded in Pittsburgh, Pennsylvania, in 1852. In 1858, the company located its corporate offices at 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 to receive a
national charter as part of that year's National Banking Act.[4]
By 1959, after a series of mergers, the bank had evolved into
the Pittsburgh National
Corporation. Another branch of the current bank,
the Philadelphia based Provident National Corporation, dates back to the
mid-19th century.[4]
In 1982, Pittsburgh National Corporation and Provident National
Corporation merged into a new entity named PNC Financial Corporation.[4] Between 1991 and 1996, PNC purchased over ten smaller banks and financial institutions that
broadened its market base from Kentucky to the Greater New York metropolitan
area.[4] In 2005, PNC acquired Washington,
D.C. based Riggs Bank.[4] PNC completed the
acquisition of Maryland-based Mercantile Bankshares on March 2,
2007.[4] On June 7, 2007,
PNC announced the acquisition of Yardville National Bancorp, a small commercial bank
centered in central New Jersey and eastern Pennsylvania. The transaction was completed in March
2008.[4] On July 19, 2007,
PNC announced the acquisition of Sterling Financial Corporation, a commercial and
consumer bank with accounts and branches in central Pennsylvania, northeastern Maryland and Delaware. The
transaction was also completed in 2008.[4]
PNC
Bank
Properties For Sale Across the United States:
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