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PNC Bank Increases New Branch Openings to More Than 300 by 2030

1. PNC will open over 300 new branches by 2030. 2. Total branch investment increases to approximately $2 billion. 3. Expansion targets markets like Nashville and Chicago. 4. PNC plans to hire over 2,000 employees for growth. 5. PNC reaffirms renovation of all branches by 2029.

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Why Bullish?

The expansion indicates strong growth potential, reminiscent of past successful branch openings that boosted market share. Similar strategies boosted banks like Regions Financial in their growth phases.

How important is it?

Strategic branch expansion directly correlates with PNC's market position and growth potential, essential for investors. The financial commitment and local focus are primary drivers for future profitability.

Why Long Term?

As markets mature and branch networks expand, PNC will likely see sustained customer acquisition and loyalty. Long-term effects of successful expansion can substantially elevate market presence, similar to BB&T's past growth strategies.

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Expanding in Eight Additional Markets Including Nashville and Chicago , /PRNewswire/ -- PNC today announced it will be opening more than 300 new branches by 2030, adding 100 new branches to the expansion plans announced last November and increasing its total branch investment to approximately $2 billion. The additional branches, in markets including Nashville, Chicago, Sarasota and Winston-Salem, extend PNC's expansion efforts to nearly 20 markets across the United States. PNC also re-affirmed its plan to complete the renovation of 100% of its branch network by 2029. In total, by 2030 PNC also plans to hire more than 2,000 new employees in support of the bank's retail expansion efforts. PNC Branch Exterior Front PNC Branch Exterior Back "At PNC, we know the importance of building deep local connections. Our branches serve as vital community hubs where trusted relationships are built and financial aspirations made real," said Alex Overstrom, head of Retail Banking at PNC. "The build-out of these 300 new branches allows us to deliver our unique blend of hospitality and financial advice to more clients in more neighborhoods across the country. It's about making PNC the most convenient bank in each of these markets, ensuring we can meet people where they are and help them thrive." Nashville and Southeast Market ExpansionAs part of this investment, PNC plans to add approximately 35 new branches to its presence in Nashville, building upon the strong momentum it has seen since entering the market in 2018. PNC also plans to build 40 additional new branches in six other cities across the Southeast, including Fort Myers, Lakeland, Sarasota, Asheville, Winston-Salem and Wilmington, N.C. By expanding its presence in these fast-growing Southeast regions, PNC aims to be a leading bank in these markets, conveniently meeting the needs of consumers and businesses of all sizes. "We're excited to grow our footprint in Nashville, a city celebrated for its music, innovation and entrepreneurial spirit," said Mike D. Johnson, PNC regional president for Tennessee. "The additional branches strengthen our ability to provide valuable resources and expertise, reflecting our commitment to supporting the region's dynamic economy and vibrant communities. Through continued local investment, PNC is creating more opportunities to deliver tailored financial guidance, innovative solutions and expanded access to resources that help individuals, families and businesses thrive." Accelerating Growth in ChicagoPNC is also significantly increasing its presence in Chicago, adding approximately 25 branches to its existing 113 locations across the market. This investment reinforces PNC's commitment to Chicago as a key growth market, allowing the bank to continue to meet the strong local demand for its services as well as enhancing customer convenience."We're proud to announce the expansion of our branch network—underscoring our strong commitment to Chicago and its diverse neighborhoods, from the Loop to the lakefront and beyond," said Scott Swanson, PNC Midwest territory executive and regional president of Illinois. "This investment strengthens our connection to the city's vibrant communities and thriving business districts, creating more opportunities to deliver trusted financial guidance, personalized service, and expanded access to resources that help Chicagoans and their families succeed. As a city built on resilience and innovation, Chicago inspires us to keep investing in its future." Remaining Committed to Established Growth MarketsAs previously announced in 2024, PNC is committed to building more than 200 branches across strategic growth markets including Atlanta, Austin, Charlotte, Dallas, Houston, Miami, Orlando, Raleigh, San Antonio, and Tampa. This is in addition to the branches being added by PNC's pending acquisition of FirstBank, which will make PNC a leading retail bank in Denver and Phoenix. Collectively, these investments reflect PNC's dedication to building a national, coast-to-coast franchise.As one of the nation's leading financial institutions, PNC Bank ranks as the fourth largest branch network in the United States, operating over 2,200 branches nationwide. In addition to an extensive and expanding physical presence across the country, PNC serves over 58,000 PNC and partner ATMs nationwide as well as through online and mobile banking platforms and its customer care center. The company also has 22 mobile branches that partner with community organizations to expand banking access to low-and-moderate income communities and provide services to areas devastated by natural disasters.PNC Bank, N.A., is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.Darby Rowe(717) 824-6314[email protected]SOURCE PNC Bank

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