PNC added another 100 branches to its expansion plans Friday, saying it would open 300 new locations by 2030.
The bank also said it planned to hire 2,000 new employees to support the growth initiative.
PNC put specific emphasis on Nashville, Tennessee, where it plans to open 35 new branches, and Chicago, where it outlined a goal to open 25.
The 300-location figure marks the second amplification of PNC’s growth plan since it laid out an ambition in February 2024 to open 100 new branches by 2028, emphasizing Denver, Dallas, Houston and Miami.
The bank followed up last November, doubling its target to 200 new branches by 2029, with an eye toward Atlanta, Charlotte, Raleigh, Orlando, Tampa and Phoenix.
Along with the footprint numbers, the financial commitment has crept upward, too – with branch investment estimated to total $2 billion, according to Friday’s update.
In addition to Nashville and Chicago, PNC is also aiming to launch 40 new branches among six markets in North Carolina and Florida, the bank said.
The expansion piggybacks on PNC’s $4.1 billion acquisition of Colorado-based FirstBank, proposed in September. That transaction would boost the bank’s presence in Denver and Phoenix, two markets previously flagged in its 2024 growth initiative.
Nashville and Chicago, meanwhile, may represent pivots back to previously trodden territories. PNC first entered Nashville in 2018, but the bank’s 2020 acquisition of BBVA’s Birmingham, Alabama-based U.S. retail presence multiplied PNC’s cachet regionally.
"At PNC, we know the importance of building deep local connections. Our branches serve as vital community hubs where trusted relationships are built and financial aspirations made real," Alex Overstrom, PNC’s head of retail banking, said Friday in a statement. "The build-out of these 300 new branches allows us to deliver our unique blend of hospitality and financial advice to more clients in more neighborhoods across the country. It's about making PNC the most convenient bank in each of these markets, ensuring we can meet people where they are and help them thrive."
Chicago, meanwhile, may hew closer to the Pittsburgh-based bank’s traditional footprint. The bank labeled the Windy City a “key growth market,” noting it counts 113 branches in the area already.
"We're proud to announce the expansion of our branch network — underscoring our strong commitment to Chicago and its diverse neighborhoods, from the Loop to the lakefront and beyond," Scott Swanson, PNC’s Midwest territory executive and regional president of Illinois, said Friday. "This investment strengthens our connection to the city's vibrant communities and thriving business districts, creating more opportunities to deliver trusted financial guidance, personalized service, and expanded access to resources that help Chicagoans and their families succeed."
PNC’s renewed push in the Midwest’s epicenter comes as at least two of its Midwest-based rivals – Cincinnati-based Fifth Third and Columbus, Ohio-based Huntington – have tethered their expansion plans to acquisitions in Texas.
