PNC Bank to close 29 branches in August: which U.S. states will be affected
PNC Bank, which currently has 2,600 branches nationwide, announced its intentions to permanently terminate 29 locations by August 18, but the strategy won’t stop there, as it plans to close 127 locations.
PNC Bank is a U.S. bank that has achieved some popularity in the country. It recently announced that it will join the trend of physical branch closures, permanently terminating 29 locations in the United States.
PNC Bank, which currently has 2,600 branches nationwide, announced its intentions to permanently terminate 29 locations by August 18, but the strategy won’t stop there, as its plan is to close 127 locations.
“We have increased our PNC branch footprint over the past five years, by building new branches and through acquisitions, while total industry branches have declined,” a company spokesperson said in an interview with The Sun.
“At the same time, we also make decisions to close branches as customer needs evolve. As always, we will continue to invest in and optimize our branch network along with our other core banking channels to serve our customers in the most effective way possible,” they added in the same conversation.
If you want to know which branches are part of this chain of closures, we let you know that most of them will take place in the banks that are inside grocery stores, such as Giant Food and Stop & Shop.
According to PNC Bank, the states most affected by the August 19 closings are Maryland, Virginia, Florida, Alabama and Indiana.
This announcement follows PNC Bank’s closure of 47 branches as recently as June 23. At that time, 15 U.S. states were affected.
Behind the reasons for these closures, and according to PNC Bank’s statements, they are planning to automate 60% or more than 1,000 of their branches by 2026. If your state is or will be affected by the closures, then you can use their locator tool to find the location closest to you.
The rise of online transactions has been a kick in the pants for physical banks, which are rightly being displaced. Just last week, Bank of America announced it would close a couple of U.S. branches by August 2023.