PNC Bank Locations by State
About PNC Bank
PNC Financial Services Group, Inc. acts as a diversified financial services company. PNC bank locations offer banking services for individuals, corporate and established banking, asset management and banking services for residential mortgages.
PNC Financial Services Group banking products for individuals and services include deposit, provision, brokerage, trust, investment management and cash management services. PNC bank locations also offers corporate and established banking products and services, including such products as secured and unsecured loans, letters of equipment leases and loans, treasury management services, including cash and investment management, receivables management, payment, funds transfer, an information message, and the services of international trade and related capital markets services, like foreign exchange, derivatives, loan syndication, mergers and acquisitions advisory and related services for mid-sized corporations, governments, nonprofit entities and large corporations as well as servicing commercial loan proposals, real estate advisory and technology solutions for commercial real estate finance industry.
In addition, PNC bank locations manage assets on behalf of institutional and individual investors through the stock, fixed income, alternative and cash management separate accounts and funds, as well as offering a risk-management market, financial markets advisory and enterprise investment system services around the world.
Further, PNC bank locations offer poor assets such as commercial loans to housing, international leases, consumer brokered loans secured by property, retail and non-principal mortgages, and residential construction loans.
PNC bank locations are primarily situated in Pennsylvania, Michigan, Indiana, Ohio, New Jersey, Maryland, Delaware, Illinois, Kentucky, Florida, Missouri, Washington, DC, and Wisconsin, Virginia.
On December 31, 2009, the company had 2,512 PNC bank locations
for individuals and 6473 ATMs.
PNC Financial Services Group was founded in 1922 and is located in Pittsburgh, Pennsylvania.
Last year PNC Financial Services Group Inc. agreed to buy the "sick" U.S. bank National City Corp. for $ 5.6 billion for the salvation of the largest credit institution of the State of Ohio to create the 5th largest U.S. savings bank and a few PNC bank locations, reports Reuters.
The deal will double the business and the will provide PNC with a large network of PNC bank locations and a strong deposit base, which together will provide low-cost financing to customers and increase financial stability. Combined bank deposits are estimated at approximately 0 billion.
PNC expects National City debt write-offs by $ 20 billion, which exceeds the cost of the bank. National City recently announced that it costs .2 billion, according to calculations based on its balance sheet.
The bank has already sold its corporation with mortgage, lending from First Franklin Financial Corp. at the end of 2006, but held the mortgages of the billions of dollars.
"They had too many mortgage loans on the balance and they wanted to sell them, but it was such a big part of their balance, they just could not do it on time", - explained Optique Capital Management analyst Bill Fitzpatrick.
PNC, presenting its proposal, estimated the securities of National City at .23 per share, which is about 19% below their value at the close of exchange trading on Thursday. PNC expects to sell U.S. Treasury preferred shares for $ 7.7 billion under the enhanced problem assets with this transaction (Troubled Assets Relief Program), becoming the first regional bank within TARP.
Last week, the U.S. government announced that in addition to 5 million intended for the 9 largest PNC bank locations
, it plans to issue another 5 billion to regional banks.
PNC has calculated that the deal would cost .3 billion - this amount will require the merger process itself and another .2 billion will go for other costs.
U.S. bank PNC Financial Services Group has reported an increase of its profit to 467 million dollars in the III quarter, or up to 1.0 dollars per share, versus 248 million dollars or 0.7 dollars per share a year earlier. Analysts have expected profit of 0.31 dollars per share.
The bank's income has risen to 4.0 billion dollars against 1.7 billion dollars during the same period last year.
However, total bank assets on September fell to 271 billion dollars against 280 billion dollars on June, 30, which was caused by reduction of its loan portfolio, reducing interest rates on bank deposits, as well as the cost of servicing debt. In general, these costs leveled profit of 4.4 billion dollars from investments in securities.
Provisions for loan losses in the III quarter totaled 914 million dollars, which is .1 billion less as in the II quarter.
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