Two new PNC Bank locations are set to come to Wilmington as part of a five-year national expansion plan, the company’s regional president for the Eastern Carolinas, Jim Hansen, said Wednesday.
“North Carolina/Wilmington is core to PNC's business and long-term growth strategy, especially as the Wilmington economy continues to grow,” Hansen said, elaborating on a press announcement from last week that “not only reflects our commitment to the region, but is also part of our strategy for supporting this growing economy.”
PNC currently has about 100 retail branches in North Carolina, including three in Wilmington. The financial institution added commercial and private banking teams to the market earlier this year.
While Hansen wasn’t prepared to announce addresses for the new Wilmington locations, he did expand on the state growth plan in general, which he said will include “approximately” 12 new branches for the Triad by 2030, as well as two in Asheville.
“This is in addition to the roughly 35 new branches slated for Charlotte and Raleigh that were announced one year ago,” he said.
Headquartered in Pittsburgh, PNC had an estimated $569 billion in assets at the close of September. Its 2030 plan would unfold more than 300 new branches, upping the business announcement from last year, which Hansen referenced, by 100 branches.
Other markets benefiting from the $2 billion infrastructure investment will include Nashville, Chicago and Sarasota, Florida. As part of the increasing footprint, PNC will also add more than 2,000 new employees, and all existing branches will be renovated, officials said.
According to a study published last year reviewing all banks in the United States, an average of 1,646 branches have closed each year since 2018, according to
an analysis of FDIC data by Self Financial. with the 2017 financial downturn and the pandemic attributed as factors. While the trend may be toward greater online and impersonal experiences, PNC is doubling down on the human connection.
“We believe that our branch network is the heart of our retail business, offering friendly and convenient service to the millions of clients who step through our doors every month,” Hansen said. “As one of the largest retail banks in the United States, our vast branch network, alongside our other core banking channels, plays a key role in how we serve and provide solutions to our clients across the country.