What kind of bank is PNC?
PNC Bank, National Association (PNC Bank) is a Main Street, regional bank headquartered in Pittsburgh, Pennsylvania. PNC Bank provides a range of traditional retail banking, home lending, corporate and institutional banking and asset management products and services.
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.
PNC submitted its most recent resolution plan to the Board of Governors of the Federal Reserve System (Federal Reserve) and the FDIC in December 2021. Importantly, PNC and PNC Bank are not in financial distress or in danger of failing.
PNC Bank is a member of the Federal Deposit Insurance Corporation (FDIC). The Federal Deposit Insurance Corporation (FDIC) is a federal agency organized in 1933 that insures depositors' accounts up to the insured amount at most commercial banks and savings associations.
If access to bank branches is important to you, Chase has more than double what PNC Bank has. Chase also offers better CD rates.
The difference between the two is that PNC offers various banking tools, waivable monthly fees and opportunities for interest boosts, while Chase offers greater branch accessibility, sign-up bonuses and specifically tailored account options.
1. JPMorgan Chase. JPMorgan Chase, or Chase Bank, is the biggest bank in America with nearly $3.4 trillion in assets. It boasts a vast network of over 4,800 physical branches and more than 15,000 ATMs.
The Probability of Bankruptcy of PNC Financial Services Group Inc (PNC) is 6.2% . This number represents the probability that PNC will face financial distress in the next 24 months given its current fundamentals and market conditions.
at 'A+'; Outlook Stable. The PNC Financial Services Group, Inc. Fitch Ratings - New York - 16 Oct 2023: Fitch Ratings has affirmed PNC Financial Services Group, Inc.'s (PNC) and its primary operating subsidiary PNC Bank, NA's (PNCBNA) Long-Term (LT) and Short-Term (ST) Issuer Default Ratings (IDRs) at 'A+'/'F1'.
PNC Bank is one of just many banks shutting down branches across the country in 2024. The bank recently announced that it was closing locations in multiple U.S. states. In some states, multiple PNC locations will close.
What are the disadvantages of PNC Bank?
- Overdraft fees: Most PNC checking accounts charge a $36 fee if you aren't opted into overdraft protection and overdraw your account by more than $5.
- Low savings APYs: The standard savings account pays little interest even at relationship rates.
Chip Lupo, Credit Card Writer. PNC Bank is a subsidiary of The PNC Financial Services Group, Inc., a U.S.-based bank holding company headquartered in Pittsburgh, Pennsylvania, and founded in 1845. PNC Bank has been a subsidiary of The PNC Financial Services Group, Inc.
If you run a small business, you may also appreciate PNC's wide service selections for both personal and business customers. However, PNC Bank is probably not the best choice if you're looking for high interest on your deposit accounts. The bank pays competitive rates on only a handful of account balances and CD terms.
The top three of PNC Corporate and Institutional's competitors in the Banking category are Razorpay with 37.29%, Oracle Financial Services with 13.45%, Temenos with 7.31% market share.
| Rank by Asset Size | Bank Name | Total Assets |
|---|---|---|
| 5. | U.S. Bank | $657.2 billion |
| 6. | PNC Bank | $554.11 billion |
| 7. | Goldman Sachs Bank | $538.13 billion |
| 8. | Truist Bank | $535 billion |
| RANK | BANK NAME | TOTAL ASSETS |
|---|---|---|
| 4 | Citigroup | $1.68 trillion |
| 5 | U.S. Bancorp | $650.7 billion |
| 6 | PNC Financial Services | $557.5 billion |
| 7 | Truist Bank | $527.5 billion |
- Ally Bank.
- Citizens Bank.
- Bank of the West.
- US Bank.
- SunTrust.
- Union Bank.
- Wells Fargo.
- HSBC.
The bank's high-yield savings account offers a highly competitive rate. The bank's standard savings account interest rate, however, is next to nothing. Linking the standard savings account to a PNC checking account provides a slight rate boost. Still, you can find much higher savings yields elsewhere.
The 1983 merger of Provident National Corporation and Pittsburgh National Corporation to form PNC Financial Services brought together two highly-regarded banks, not just for their business philosophy, but also for their support of their regional culture.
1. JP Morgan Private Bank. “J.P. Morgan Private Bank is known for its investment services, which makes them a great option for those with millionaire status,” Kullberg said. “With J.P. Morgan, each client is given access to a panel of experts, including experienced strategists, economists and advisors.”
What is the strongest bank in the United States?
| Rank | Bank name | Total assets (billions of US$) |
|---|---|---|
| 1 | JPMorgan Chase | $3,898 |
| 2 | Bank of America | $3,153 |
| 3 | Citigroup | $2,368 |
| 4 | Wells Fargo | $1,909 |
| Bank | Forbes Advisor Rating | Learn More |
|---|---|---|
| Chase Bank | 5.0 | Learn More Read Our Full Review |
| Bank of America | 4.2 | |
| Wells Fargo Bank | 4.0 | Learn More Read Our Full Review |
| Citi® | 4.0 |
The Stop Banking the Bomb campaign against PNC Bank was started because a few Pittsburgh-based anti-war organizers wanted to bring to the public's attention that PNC Bank, which is the nation's seventh largest bank, was a notorious investor in U.S. weapons of mass destruction.
The PNC-BBVA deal was announced in November 2020 and closed in May 2021.
This website contains forward-looking statements regarding our outlook or expectations with respect to the acquisition of BBVA USA Bancshares, Inc., the combination of BBVA USA Bancshares, Inc. into PNC and BBVA USA into PNC Bank, and the impact of the transaction on PNC's future performance.
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