PNC Expands in Southeast with Conversion of RBC Bank (USA)
- Completes Biggest Conversion in its 160-Year History, Makes Banking Easier with Saturday Hours in 140 More Branches -
PITTSBURGH, March 12, 2012 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today announced it has completed the conversion of 900,000 customers and more than 400 branches across six Southeastern states from RBC Bank (USA) to PNC Bank.
The simultaneous closing and conversion was completed successfully as the branches reopened March 5 as PNC Bank in Alabama, Florida, Georgia, North Carolina, South Carolina and Virginia.
Starting April 7, more than 140 of these Southeastern branches will begin to offer Saturday hours of 9:00 a.m. to 1:00 p.m. to make banking easier for customers of the nation's fifth largest bank, based on more than 2,900 locations across 19 states and the District of Columbia.
"The addition of RBC Bank is a great opportunity for PNC to expand in attractive Southeast markets and generate revenue growth," said James E. Rohr, PNC's chairman and chief executive officer. "The success of our recent acquisitions demonstrates that when we bring our innovative products and services to new markets we have the proven ability to win clients and increase efficiencies."
This represents PNC's seventh successful acquisition in the past eight years and extends the company's strong track record with integrations. At 415 branches, this was PNC's single biggest conversion at one time. In 2009-10, PNC converted more than 6 million customers and 1,300 branches from National City Bank in four phases during a seven-month period.
The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation's largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services.
William H. Callihan
SOURCE The PNC Financial Services Group, Inc.
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