Despite the trend of retail banks closing neighborhood branches due to the rise of Internet banking, PNC has announced its plans to expand in Tampa Bay by opening 20 new branches by 2029.
The Pittsburgh-based bank will also be investing $500 million over the next five years to open an additional 50 locations throughout Florida as part of a larger $1.5 billion expansion plan for its retail presence.
According to Alex Overstrom, a representative from PNC, these branches are essential in providing solutions and financial advice for their millions of clients who visit each month.
PNC first entered the Tampa Bay market in 2011 when it acquired BankAtlantic and its existing network of 19 local branches. With this expansion, PNC will now have a total of 180 locations across Florida alone.
In fact, with over 2,200 branch locations nationwide, PNC currently holds the fourth largest branch network among all U.S. banks.
