PNC to spend $1 billion on its bank branches
By Steve Gelsi
Big regional bank plans to add 100 branches and renovate 1,200 others
PNC Financial Services Group Inc. said Wednesday it plans to spend $1 billion on its branch network.
Plans include opening more than 100 new branches and renovating 1,200 out of a total network of 2,300 by the end of 2028.
PNC (PNC) plans to build new branches in San Antonio, Miami, Houston, Dallas, Denver and Austin, Texas, among other locations.
Alex Overstrom, head of PNC Retail Banking, said the bank's 15,000 team members help customers with home financing, check deposits, saving for retirement and supporting "their holistic financial needs."
PNC stock was up by 1.2% on Wednesday.
The move by PNC comes about a week after JPMorgan Chase & Co. (JPM) said it plans to add 500 branches and 3,500 employees by the end of 2027.
-Steve Gelsi
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
02-14-24 0941ET
Copyright (c) 2024 Dow Jones & Company, Inc.-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
5 Stocks to Buy That We Still Like After They’ve Run Up
-
Markets Brief: Stocks Are Starting to Look Cheap Again
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track
-
American Airlines Earnings: We See Costs Overshadowing Market Share This Year
-
Snap Earnings: Advertising Growth and Snapchat+ Drive Monetization
-
STMicro Earnings: We Still See an Attractive Margin of Safety Despite a Poor First-Half Forecast
-
Alphabet Shares Surge on Strong Earnings, Dividend Surprise
-
Microsoft Earnings: Firm Beats Forecasts on Strong AI and Cloud Demand
-
PG&E Earnings: Near-Term Regulatory Certainty Supports Industry-Leading Earnings Growth