PNC Bank Is Closing 30 More Branches in 7 States This July
Over 200 PNC Bank branches are shuttering this year.
A trip to the bank can be challenging—whether it's fitting the errand into your work week, scheduling an appointment ahead of time, or just waiting in line for a teller to assist you. Still, it's sometimes a necessary errand, which is why so many of us rely on our local branches. But thanks to the ever-increasing popularity of online banking—which allows you to dispute charges and deposit checks virtually—major organizations are cutting back on their brick-and-mortar locations, including PNC. Read on to find out about the latest closures from the national bank chain.
Seven states are losing PNC branches.
According to regulatory filings with the Office of the Comptroller of the Currency (OCC), PNC is shuttering 30 locations across the country. Branches are shuttering in seven states—Virginia, Texas, Maryland, Ohio, Florida, Alabama, and Illinois—per the April 22 weekly bulletin.
Eleven branches are closing in Virginia, while nine are shutting down in Maryland, and the Pittsburgh Business Times reported that most of these branches are in-store locations. The remaining states and Washington, D.C., are each losing two branches a piece this summer.
In a statement to Best Life, PNC confirmed that the locations will shut down on July 21. The timing coincides with OCC regulations, which require banks to give at least 90 days' notice ahead of branch closures.
PNC said it's working to "most effectively" meet customers' needs.
PNC told Best Life that the company decided to close these branches following a review of its business model.
"PNC recognizes that branches continue to play an important role for many customers when it comes to conducting certain transactions and holding important in-person financial conversations with our banking experts, which is why we routinely evaluate our branch network, together with our other available methods of banking, to determine if we are most effectively meeting our customers' needs," a spokesperson said.
They added, "After a careful review of our business model, PNC's strategic goals and the potential impact to our customers, the decision was made to close the locations you have listed. We remain committed to delivering on our purpose to move all forward financially, and we are confident that we can meet or exceed our customers' needs at nearby branch locations, alongside other available methods of banking."
But while these locations are the latest additions to the closure list, they're far from the only branches shuttering in the coming months.
Over 200 PNC locations are being axed in 2023.
By the Pittsburgh Business Times' calculations, the latest round of closures brings the total number of closing locations this year to 203.
In March, PNC told Best Life that 47 branches are closing, as listed in the March 25 weekly bulletin from the OCC. More PNC customers will be affected by these closures, as 15 states will see closures next month.
Virginia will again be hit the hardest, losing a total of 11 locations, followed by Texas, which is losing seven locations. New Jersey and Alabama are losing five branches and four branches, respectively. Maryland and Florida are saying goodbye to three locations each, while the remaining states are losing one or two a piece.
This follows news from July 2022, when PNC Bank confirmed that it would be closing 135 store-in-store locations. Most of these locations were those inside of Giant Foods and Stop & Shop stores. According to the Pittsburgh Business Times, the bank chain has yet to provide an update on how many of these locations have been shut down.
Other branches are shutting down brick-and-mortar locations, too.
According to the April 22 weekly bulletin, PNC isn't alone in plans to shutter banks.
Santander Bank is shuttering 17 branches, 16 of which are in Massachusetts, according to the filing. The week prior, Wells Fargo informed the OCC of nearly 20 closing branches, Best Life previously reported.