PNC Financial Services
The PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 27 states and the District of Columbia, with 2,629 branches and 9,523 ATMs. PNC Bank is on the list of largest banks in the United States by assets and is one of the largest banks by number of branches, deposits, and number of ATMs.
| Company type | Public |
|---|---|
| Industry | |
| Predecessor | Pittsburgh National Corporation Provident National Corporation |
| Founded | April 10, 1845 Operational: January 28, 1852 |
| Headquarters | , |
Number of locations | 2,629 branches 60,000 automated teller machines (2021) |
Area served | Worldwide |
Key people | William S. Demchak (President and CEO) |
| Products | Consumer banking, Corporate banking, Private banking, Financial analysis, Insurance, Investment banking, Mortgage loans, Private equity, Wealth management, Credit cards |
| Revenue | US$21.1 billion (2022) |
| US$7.9 billion (2022) | |
| US$6.1 billion (2022) | |
| AUM | US$325 billion (2021) |
| Total assets | US$557 billion (2022) |
| Total equity | US$55.726 billion (2021) |
Number of employees | 59,426 (2021) |
| Subsidiaries | PNC Bank |
| Capital ratio | 10.3% Tier 1 capital (2021) |
| Website | pnc |
| Footnotes / references | |
The company also provides financial services such as asset management, wealth management, estate planning, loan servicing, and information processing. PNC is one of the largest Small Business Administration lenders and one of the largest credit card issuers. It also provides asset–based lending to private equity firms and middle market companies. PNC operates one of the largest treasury management businesses and the second largest lead arranger of asset–based loan syndications in the United States. Harris Williams & Co., a subsidiary of the company, is one of the country's largest mergers and acquisitions advisory firms for middle-market companies. Midland Loan Services, a division of PNC Real Estate based in Overland Park, Kansas and founded in 1991, is ranked by Mortgage Bankers Association as the second largest master and primary servicer of commercial bank and savings institution loans.
The name "PNC" is derived from the initials of both of the bank's two predecessor companies: Pittsburgh National Corporation and Provident National Corporation, which merged in 1983. PNC Mortgage (formerly National City Mortgage) is credited with funding the first mortgage in the United States and has offices across the country.