PNC Bank: Difference between revisions
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'''PNC Bank''' is the banking division of The PNC Financial Services Group, a Pittsburgh, Pennsylvania-based company which entered the [[Birmingham]] market through acquisitions. | '''PNC Bank''' is the banking division of The PNC Financial Services Group, a Pittsburgh, Pennsylvania-based company which entered the [[Birmingham]] market through acquisitions. Its Northern and Central Alabama division operates from administrative offices on the 9th floor of [[One Federal Place]]. [[Nick Willis]] was named the regional division president in [[2017]]. | ||
In [[2011]] PNC Bank acquired [[RBC Bank]], the Raleigh, North Carolina-based US subsidiary of the Royal Bank of Canada for $3.62 billion. RBC Bank had bought branches in [[Tuscaloosa]], Huntsville and Mobile out of the [[2006]] [[AmSouth Bank|AmSouth]]/[[Regions Bank|Regions]] merger, and had acquired [[Alabama National BanCorp]]'s former [[First American Bank]], a successor to the original [[National Bank of Commerce]]. | In [[2011]] PNC Bank acquired [[RBC Bank]], the Raleigh, North Carolina-based US subsidiary of the Royal Bank of Canada for $3.62 billion. RBC Bank had bought branches in [[Tuscaloosa]], Huntsville and Mobile out of the [[2006]] [[AmSouth Bank|AmSouth]]/[[Regions Bank|Regions]] merger, and had acquired [[Alabama National BanCorp]]'s former [[First American Bank]], a successor to the original [[National Bank of Commerce]]. | ||
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In June [[2021]], PNC Bank acquired [[BBVA]], the Houston, Texas-based US division of Spain's '''Banco Bilbao Vizcaya Argentaria''' for $11.6 billion. BBVA had purchased Birmingham's [[Compass Bank]] in [[2007]] and initially used Birmingham as the headquarters of its US operations. The bank maintained significant administrative and technical operations in Birmingham, split between the [[Daniel Building]] and the [[Harry B. Brock Administrative Center]] in [[Lakeview]]. With the acquisition, PNC became the 5th largest bank in the United States with $560 billion in assets. | In June [[2021]], PNC Bank acquired [[BBVA]], the Houston, Texas-based US division of Spain's '''Banco Bilbao Vizcaya Argentaria''' for $11.6 billion. BBVA had purchased Birmingham's [[Compass Bank]] in [[2007]] and initially used Birmingham as the headquarters of its US operations. The bank maintained significant administrative and technical operations in Birmingham, split between the [[Daniel Building]] and the [[Harry B. Brock Administrative Center]] in [[Lakeview]]. With the acquisition, PNC became the 5th largest bank in the United States with $560 billion in assets. | ||
PNC Bank announced that it would add the Brock Service Center in Birmingham to its cadre of "technology centers" to help serve its growing regional presence. | PNC Bank announced that it would add the Brock Service Center in Birmingham to its cadre of "technology centers" to help serve its growing regional presence. BBVA accounts were transitioned to PNC Bank by October 2021. | ||
BBVA accounts were transitioned to PNC Bank by October 2021. | |||
== References == | == References == | ||
Revision as of 11:33, 3 June 2021
PNC Bank is the banking division of The PNC Financial Services Group, a Pittsburgh, Pennsylvania-based company which entered the Birmingham market through acquisitions. Its Northern and Central Alabama division operates from administrative offices on the 9th floor of One Federal Place. Nick Willis was named the regional division president in 2017.
In 2011 PNC Bank acquired RBC Bank, the Raleigh, North Carolina-based US subsidiary of the Royal Bank of Canada for $3.62 billion. RBC Bank had bought branches in Tuscaloosa, Huntsville and Mobile out of the 2006 AmSouth/Regions merger, and had acquired Alabama National BanCorp's former First American Bank, a successor to the original National Bank of Commerce.
In June 2021, PNC Bank acquired BBVA, the Houston, Texas-based US division of Spain's Banco Bilbao Vizcaya Argentaria for $11.6 billion. BBVA had purchased Birmingham's Compass Bank in 2007 and initially used Birmingham as the headquarters of its US operations. The bank maintained significant administrative and technical operations in Birmingham, split between the Daniel Building and the Harry B. Brock Administrative Center in Lakeview. With the acquisition, PNC became the 5th largest bank in the United States with $560 billion in assets.
PNC Bank announced that it would add the Brock Service Center in Birmingham to its cadre of "technology centers" to help serve its growing regional presence. BBVA accounts were transitioned to PNC Bank by October 2021.
References
- "PNC to buy BBVA's U.S. operations for $11.6B." (November 16, 2020) Birmingham Business Journal
- Thornton, William (November 17, 2020) "What does PNC’s acquisition of BBVA mean for Birmingham." The Birmingham News
- Thornton, William (June 2, 2021) "PNC completes $11.6 billion acquisition of BBVA, announces Alabama leadership." The Birmingham News
- Thornton, William (June 3, 2021) 'PNC’s new Alabama regional president: What $11.6 billion BBVA merger means for Birmingham." The Birmingham News
External links
- PNC Bank website