PNC Completes First Half of National City Conversion
- Bank Adds 2.9 Million New Customers in Five States; Remaining Phases Scheduled for April and June -
The PNC Financial Services Group, Inc. (NYSE:PNC) today announced it has successfully completed the conversion of 1.1 million customers and 320 branches from National City Bank to PNC Bank in central and southern Ohio along with Kentucky and southern Indiana.
The branch locations opened as scheduled Monday, Feb. 22, in the second of four phases that make PNC the nation's fifth largest bank based on deposits and branches across 15 states. The first phase was successfully completed in November 2009 for 1.8 million customers and 240 branches throughout the state of Florida, western Pennsylvania and Youngstown, Ohio.
'The process of converting customer accounts is proceeding smoothly as the acquisition of National City continues to exceed our own expectations,' said Thomas K. Whitford, PNC vice chairman and co-leader of the National City integration. 'We remain on track to complete the account conversion process by mid-year, which is ahead of our original schedule.'
Final Two Phases
With eight conversions in the past five years, PNC has extensive experience and a strong track record with successful integrations. 'We see opportunities to gain individual and business customers across our expanded franchise and provide them with our full range of products and services,' said Shelley Seifert, co-leader of the integration.
Communications to National City customers begin four months prior to each conversion phase. The dates and regions of the final two phases are as follows:
-- April: The next phase, effective April 12, involves the conversion of
1.5 million customers and 420 branches in northern Ohio (including
Cleveland, Akron and Toledo) and the state of Michigan.
-- June: The final phase, effective June 14, involves 1.6 million
customers and 390 branches in the remainder of Indiana (primarily
Indianapolis) along with the states of Illinois, Missouri and
The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation's largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services.
Brian E. Goerke William H. Callihan
(412) 762-4550 (412) 762-8257
Contact: Brian E. Goerke Media of The PNC Financial Services Group Inc. +1-412-762-4550 firstname.lastname@example.org