PNC has a diversified business mix, which includes consumer banking, specialized financial businesses targeted to companies and government entities, and leading asset management and processing businesses.
PNC Bank has over 2,700 branches across 19 states and the District of Columbia with a network of 7,400 ATMs.
PNC Capital Advisors, LLC a multi-strategy investment management organization, focuses on style purity and risk management to support clients' long-term investment objectives. In total, as of Sept. 30, 2013, the division managed approximately $122 billion in assets under management and $237 billion assets under administration, serving clients from nearly 90 offices in 17 states and the District of Columbia.
PNC also owns 25% of Blackrock, one of the nation's largest publicly-traded asset managers.
PNC had revenues of $16.6 billion in 2012 and net income of $3.0 billion.
The many institutions that comprise the PNC Financial Services Group have roots that reach back well into the 19th century, and one even dates from the 18th century.
Pittsburgh National Corporation
- Pittsburgh National Corporation, parent of Pittsburgh National Bank, was established as the Pittsburgh Trust and Savings Company in 1852, and is the oldest bank in Pittsburgh. Within months of its creation, the company moved its offices to Wood Street, one door from the corner of Fifth Avenue, and in 1858 it acquired the corner lot. The company has been doing business at the corner of Fifth Avenue and Wood Street ever since.
- Officers of Pittsburgh National played a key role in the passage of the National Banking Act of 1863, and the bank was the first to apply for a national charter. Upon receiving of its new charter, the institution became the First National Bank of Pittsburgh.
- In the expansive period after the Civil War, the growth of the iron, steel, glass, and coal industries provided the foundation for a profitable bank.
- First National Bank of Pittsburgh became Peoples First National Bank and Trust Company in 1946 through consolidation with Peoples-Pittsburgh Trust Company. In 1959, a triple merger occurred -Fidelity Trust Company merged with Peoples First, which, in turn, merged with First National. No permutation of the existing names seemed sufficient; a new name, -- Pittsburgh National Bank -- and a new symbol, a triangle that expressed the industrial and commercial strength of Pittsburgh's Golden Triangle, were created.
Provident National Corporation
- Provident National Corporation, parent of Provident National Bank, has origins that date back to the mid-19th century. One of its predecessors, Provident Life and Trust Company, was established in 1865 by Quakers as an insurance company. Its charter authorized it to insure lives and conduct traditional trust business. In cashing the checks issued to trust beneficiaries, the Provident Life and Trust Company entered the world of banking. The company used the motto, "Organized and Managed by Friends," and became known informally as "the Quaker bank," an identity that remained with it into the 20th century.
- In 1922 the Provident Life and Trust Company split into two independent entities: Provident Mutual Life Insurance Company and Provident Trust Company. The Trust Company chose to use artist Jean Francois Millet's "Sower" to visually represent the long-term benefits of prudent investment.
- In 1957, Provident Trust Company of Philadelphia and Provident Tradesmens Bank and Trust Company merged, creating Provident National Bank. The bank used the name Provident Tradesmens Bank and Trust Company and continued to use Millet's "Sower" as its trademark until 1964.
In 1982, Pennsylvania reformed existing laws to permit statewide banking. The first two banks to take advantage of the new legislation through a merger were Pittsburgh National and Provident National. At the time, this merger represented the largest bank merger in U.S. history. Taking the shared initials of their holding companies PNC - they created a new holding company, PNC Financial Corp, and set the stage for rapid growth.
In 2008, PNC acquired National City Corporation.
In 2012, PNC bought the U.S. subsidiary of Royal Bank of Canada for $3.45 billion in cash and stock. RBC Bank (USA) serves approximately 900,000 customers through 426 branches in North Carolina, South Carolina, Georgia, Florida, Alabama and Virginia.
- Medical Coverage - Eligibility begins
on the first of the month following date of hire for qualifying
full-time employees. Most PNC locations offer choices between
competitive preferred provider and HMO options.
Updated November 2, 2013