TKGI FINANCE

America's Top 20 Bank Holding Companies

PNC Financial Services Group, Inc



PNC Financial Services is currently the 11th largest bank among all banks in the United States, ranked by their total assets. As of March 2012, they had $296,119,070 in assets.

The history of PNC Financial Services Group, Inc. spans 160 years. Throughout its history, the bank has always resided in the Pittsburgh, Pennsylvania area. It started in 1852 as the Pittsburgh Trust and Savings Company and a name change came just eleven years later making the new First National Bank of Pittsburgh the first bank in the nation to get a charter from the National Banking Act.

In 1959, after some mergers, the bank became Pittsburgh National Corporation. Since that time, the bank has continued to acquire banks and increase their brand throughout the Eastern, Southern and Mid-Western United States. They merged with Provident National Corporation in 1982 to become PNC Financial Corporation. During the next decade, from 1991 to 1996, they bought an additional ten banks and expanded their market to include Kentucky all the way to the New York City area.

The year 2005 saw them take over Riggs Bank from the Washington D.C. area. A lot happened in 2007 as they added three existing banks to their brand. First they acquired Mercantile Bankshares from Maryland. A few months later, in June, they bought the small Yardville National Bancorp based out of New Jersey and Pennsylvania. Finally they took on Sterling Financial Corporation which had commercial and customer accounts in parts of Pennsylvania, Maryland and Delaware. The following year, 2008, they acquired National City Bank based out of Cleveland. This allowed them to double their size and boost their rank among the other banks. This move helped them expand into the Mid-West and Florida. At the same time the bank sold 15% of its shares to the US Treasury; the shares were repurchased in the following two years.

In 2011 PNC purchased the Tampa Bay area branches of BankAtlantic and the following year they began negotiations on buying the Royal Bank of Canada (USA).

PNC Financial Services Group, Inc. has always been headquartered in Pittsburgh, Pennsylvania. They currently have more than 8000 employees in four office buildings.

Despite not being established on Wall Street like many other banks, PNC has been and continues to be a valuable asset to the Pittsburgh community. In addition to providing thousands of jobs, nearly doubling its employee base in the last decade, they are working to revitalize the downtown area with their new building which will utilize unused property, use local workers during construction and aim to be one of the world's most environmentally friendly buildings.