Is PNC considered a small bank?
The PNC Financial Services Group, Inc. (NYSE: PNC) is one of the largest diversified financial services institutions in the United States, with assets of $562 billion as of December 31, 2023.
PNC Bank, a subsidiary of PNC Financial Services Group, provides comprehensive financial services and solutions to both individuals and businesses. It's one of the largest U.S. banks with $553 billion in assets but is the most popular bank in only one state: Pennsylvania. Read our full PNC Bank Review.
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 PNC Financial Services Group, Inc.
The 10 largest banks in the U.S. are Chase, Bank of America, Wells Fargo, Citibank, U.S. Bank, PNC Bank, Goldman Sachs Bank, Truist Bank, Capital One and TD Bank. Key Takeaways: Chase is the largest bank in the country, holding over $3.38 trillion in assets.
- 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.
| RANK | BANK NAME | TOTAL ASSETS |
|---|---|---|
| 6 | PNC Financial Services | $557.5 billion |
| 7 | Truist Bank | $527.5 billion |
| 8 | Goldman Sachs | $521.1 billion |
| 9 | Capital One Financial | $475.6 billion |
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'. The Rating Outlook is Stable on the long-term IDRs.
Importantly, PNC and PNC Bank are not in financial distress or in danger of failing. As of September 30, 2022, both PNC and PNC Bank had regulatory capital ratios significantly in excess of the amount required to be considered “well capitalized” under U.S. banking regulations.
The Probability of Bankruptcy of PNC Financial Services Group Inc (PNC) is 5.4% . This number represents the probability that PNC will face financial distress in the next 24 months given its current fundamentals and market conditions.
If access to bank branches is important to you, Chase has more than double what PNC Bank has. Chase also offers better CD rates.
How safe is my money in PNC Bank?
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.
The top three of PNC Corporate and Institutional's competitors in the Banking category are Razorpay with 41.98%, Oracle Financial Services with 12.07%, Temenos with 6.60% market share.
PNC Bank is on the list of largest banks in the United States by assets and is one of the largest banks by number of branches, deposits, and number of ATMs.
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.
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.
Total revenue for the fourth quarter of 2023 increased $128 million from the third quarter of 2023 due to higher noninterest income. Compared with the fourth quarter of 2022, total revenue declined $402 million due to lower net interest income and noninterest income.
PNC will best serve those who are looking for a bank with a local branch office, at least in one of the many states in which the bank operates. It's also a solid choice if you're looking for a full-service bank that provides credit cards, loans, and investment services, in addition to banking.
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.
JPMorgan Chase is the top largest bank in the US, with a balance sheet total of $3.31 trillion.
PNC Bank is investing $1 billion to open 100 new branches and renovate roughly 1,200 locations by 2028, the bank announced earlier this month.
Is PNC financially sound?
at 'A+'; Outlook Stable. Fitch Ratings - New York - 20 Oct 2022: 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'. The Rating Outlook is Stable.
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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.
A group of about 20 activists and protesters gathered in front of PNC Bank's headquarters Downtown on Wednesday morning to call on the financial giant to divest from companies that manufacture weapons for the nation's military — some of which could be used in the Israel-Hamas conflict, they said.
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