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PNC Financial Corp. Central Bancorp. PNC Financial Corp. Nearly $700 million [21] PNC Financial Services: 1987 RepublicBank Corp. Interfirst Corp. First Republic Bank Corporation: Bank of America: 1987 Security Pacific Corp. Rainier National Bank Security Pacific Corp. (banks in Pacific NW continued to operate as Rainier) Bank of America: 1987
The transitional logo used by PNC Financial Services after it finalized the purchase of National City Corp., January 2009 –June 2010.. The National City acquisition by PNC was the deal by PNC Financial Services to acquire National City Corp. on October 24, 2008 following National City's untenable loan losses during the subprime mortgage crisis.
In 1982, Pittsburgh National Corporation and Provident National Corporation, both with PNC as their abbreviations, merged into a new entity named PNC Financial Corporation. It was the largest bank merger in American history at the time and created a company with $10.3 billion in assets.
PNC. National City. $6.1 billion. June 23, 2017. CIBC. PrivateBancorp. $5 billion. July 29, 2016. ... Your bank could merge with a bank, acquire another bank or be acquired by another bank ...
The deal was approved by shareholders of both banks on December 23, 2008. According to a press release by PNC group, PNC intends to merge National City's banking affiliates into PNC Bank and they will assume the PNC Bank name. The merged entity will have its headquarters in Pittsburgh, Pennsylvania. [91]
On February 10, 2005, PNC Financial Services agreed to acquire Riggs, [38] and the merger was completed on May 13, 2005. [39] The Riggs name was retired and all Riggs branches became PNC Bank branches three days later. [40] Soon after the merger's completion, PNC phased out the scandal-plagued embassy business. [38]
In April, PNC CEO William Demchak sent a letter to regulators advocating for a merger policy that "is capable of building challengers to the largest Global Systemically Important Banks in the ...
PNC's stake in BlackRock is currently worth $7.4 billion, which represents a 22% stake in the company. This passive investment requires little work on behalf of PNC, though it continues to reap ...