BANKING
PNC plans to close more than twenty locations in the coming months: Here is the full list
The national bank, PNC, plans to close over twenty locations this year. Will you be impacted by the closures?
PNC plans to shutter over twenty branches this year in states across the country. This comes after the financial institution closed over 200 locations last year.
This information is sourced from the Office of the Comptroller of Currency, which mandates banks to report any closures or openings of bank branches. These reports are then reviewed and approved by the agency. While Chase and Bank of America usually publish the exact dates of their branch closures, PNC does not. Hence, we can provide you with the list of locations that are set to close, but unfortunately, we cannot give you the exact date of closure.
The bank has already closed three branches this year:
- 1151 Bankhead Hwy W, Birmingham, AL
- 100 W Randolph St Ste 120, Chicago, IL
- 300 W 7th St, Fort Worth, TX
Where will branches close?
So far this year, the bank only plans to close one branch in Arizona, California, Florida, Georgia, Illinois, Indiana, Maryland, New Jersey, New Mexico, and Wisconsin:
- 12026 N 111th Ave, Youngtown, AZ
- 16920 Van Buren Blvd, Riverside, CA
- 701 Village Blvd, West Palm Beach, FL
- 5320 Flynn Crossing Dr, Alpharetta, GA
- 1640 W Fullerton Ave, Chicago, IL
- 200 W Mulberry St, Kokomo, IN
- 24385 Mervell Dean Rd, Hollywood, MD
Two branches will be closed in Alabama:
- 198 Green Springs Hwy, Homewood, AL
- 2936 Montgomery Hwy, Dothan, AL
Michigan will also see at least two branches close this year:
- 19450 Haggerty Rd, Livonia, MI
- 222 West Main St, Pinckney, MI
Four branches, three of which are located in Pittsburgh, will be closed in Pennsylvania:
- 5932 Centre Avenue, Pittsburgh, PA
- 178 Bakery Sq, Pittsburgh, PA
- 4761 Liberty Ave, Pittsburgh, PA
- 60 Washington St, East Stroundburg, PA
At least three locations will be closed in Texas:
- 512 N Oregon St, El Paso, TX
- 2209 W Northwest Hwy, Dallas, TX
- 411 State Highway 147, Broaddus, TX
Last year, PNC closed 241 locations and only opened twenty-nine, meaning there was a relatively significant net decrease in the number of branches operated by the bank. Lowering costs by reducing personal and physical presence by closing locations could be in the cards of company leaders, particularly considering the bank is anticipating a mild recession to begin in mid-2024. However, the financial outlook estimates that GDP will fall by less than one percent, and as the recession ends by late 2024, the bank expects the economy to reach inflation to fall under a two percent target set by the Federal Reserve.