PNC Bank targets more than 370 new branches by 2031

PNC Bank has revealed plans to expand its branch network to more than 370 new locations by 2031, backed by an investment of around $2.5bn.

The total includes more than 70 branches already opened under its earlier expansion strategy.

From 2027, PNC expects to open 60 branches each year. It will also renovate existing locations across its markets.

The programme is expected to create 2,400 jobs.

PNC said the hiring will add bankers in communities where it is increasing its physical presence.

The expansion is concentrated in the Southeast.

PNC is opening approximately 200 locations in Florida and North Carolina, while undertaking targeted buildouts in Atlanta and Nashville.

The bank will add more than 50 branches in Georgia and South Carolina.

In South Carolina, it plans 12 branches in Greenville, nine in Charleston, nine in Columbia, five in Myrtle Beach, four in Spartanburg, and three in Hilton Head.

Georgia will receive six branches in Savannah and five in Augusta.

PNC also intends to build 10 further locations across Texas, Florida, and North Carolina, following its earlier expansion in those markets.

Alongside the branch programme, PNC is rolling out digital services, including the new PNC mobile app.

The app was recently made available to clients nationwide, while active digital users rose 9% year on year in the third quarter.

In recent years, PNC has expanded in Austin, Chicago, Dallas, Denver, Houston, Phoenix, and San Antonio.

PNC Southeast territory executive Jim Hansen said: “We’re excited about expanding our presence across the Southeast and bringing our capabilities to more of the country’s fastest growing markets.

“With the addition of 50 more branches in South Carolina and Georgia, this next phase of our expansion will enable our team to meaningfully contribute to the region’s growth, serve local clients and create impact for communities.”