Pennsylvania Bank Initiates Strategic Closure, Shuttering Nineteen Branches

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Written By Blue & Gold NLR Team

 

 

 

 

Digital Evolution: PNC Bank to Close 19 Physical Branches: PNC Bank, headquartered in Pennsylvania, is emphasizing online banking and has decided to shut down several locations across the United States.

Today, the bank announced the closure of 19 branches nationwide, including five in Pennsylvania, with the anticipated shutdown scheduled for February.

In the previous month, PNC Bank disclosed plans for job cuts within its operations. With a workforce of over 60,000 employees nationwide, PNC Bank is a major player in the U.S. financial sector.

The affected PNC locations in Pennsylvania are as follows:

  • 202 N Walnut St, Bath
  • 301 West Trenton Ave, Morrisville
  • 14 N Main St, Plains
  • Two North Mill St, New Castle
  • 1969 E 3rd St, Williamsport

PNC justified the closures by stating, “We make decisions to close branches as customer needs evolve. As always, we will continue to invest in and optimize our branch network alongside our other core banking channels to serve our customers in the most effective way we can,” in an official statement.

While online banking is preferred by some, many customers still opt for in-person branch visits for their financial transactions. The closures are raising concerns, especially among customers in low-income and predominantly minority communities. CNBC notes that, according to the National Community Reinvestment Coalition, one-third of the branches closed between 2017 and 2021 were in areas predominantly characterized by lower income and minority populations.

Data from the Federal Deposit Insurance Corporation (FDIC) indicates a significant decline in the number of operating banks—from approximately 8,000 in 2000 to half that figure by 2022.

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