PNC Financial Services Group Stock Price, News & Analysis

PNC Bank launched its Mobile Branch program in Atlanta on March 10, 2023, aiming to improve access to banking services in underserved communities. This 30-foot mobile branch allows customers to open accounts, apply for loans, and receive financial services in their neighborhoods. Throughout 2023, it will rotate between community organizations like Focused Community Strategies and Families First. The initiative aligns with PNC's $88 billion Community Benefits Plan, targeting low- and moderate-income populations. The program reflects PNC's commitment to financial inclusion amid ongoing COVID-19 safety measures.

PNC Bank is hosting a Women's History Month event featuring Princess Sarah Culberson, a humanitarian and author known for her remarkable journey of rediscovery. Scheduled for March 22, 2023, at 1:00 PM EDT, the event will highlight the importance of community, inclusion, and overcoming fears. Princess Sarah has garnered international recognition and founded Sierra Leone Rising, a non-profit focused on education and sanitation in Sierra Leone. The event will include remarks from Amanda Agati, Chief Investment Officer, and will be moderated by Wanda Richards, Managing Chief Counsel at PNC.

PNC Financial Services Group (NYSE: PNC) will release its first-quarter 2023 financial results on April 14, 2023, at 6:45 a.m. (ET). CEO William S. Demchak and CFO Robert Q. Reilly will discuss the results during a conference call for investors at 11 a.m. (ET) that same day. The Annual Meeting of Shareholders is scheduled for April 26, 2023, in a virtual-only format. Shareholders are encouraged to participate and submit questions using a unique control number from their proxy materials.

PNC Bank has partnered with Angel City Football Club (ACFC) as a founding partner and the Official Women's Business Champion to empower female financial decision-makers in Greater Los Angeles. This partnership will reallocate 10% of sponsorship funds to support grants for retired National Women's Soccer League players looking to start or grow social enterprises. PNC will also offer financial education and resources to ACFC players and host forums addressing women's business challenges. This initiative aligns with PNC's Project 257, aimed at closing the 257-year economic gender gap.

Harris Williams acted as exclusive financial advisor to Thoma Bravo for its investment in LOGEX, a healthcare analytics provider based in Amsterdam. LOGEX enhances healthcare decision-making and aims to optimize patient outcomes while reducing costs. Existing investors, including Summa Equity and LOGEX's founders, will continue their involvement. Thoma Bravo, managing over $120 billion in assets, has a strong record, having invested in more than 420 companies for over $235 billion in enterprise value. This transaction marks Thoma Bravo's first investment by its European team as they aim to accelerate LOGEX's growth in Europe.

PNC is actively committed to supporting Black communities beyond just Black History Month. The bank emphasizes diversity, equity, and inclusion in its business practices, aiding organizations like the National Center for Civil and Human Rights in Atlanta, which received $11 million in tax credits for its construction. PNC has contributed over $500,000 to the DuSable Black History Museum in Chicago and partnered with historical institutions nationwide, including the National Museum of African American History and Culture, demonstrating a commitment to preserving Black history and promoting education.

SoLa Impact has secured a $7.5 million investment from PNC Bank's Community Development Banking group for its Black Impact Fund, aimed at addressing California's affordable housing crisis. The investment is part of PNC's broader $88 billion Community Benefits Plan, which focuses on supporting low- and moderate-income communities. SoLa plans to create over 3,000 affordable housing units for residents earning below the Area Median Income in Southern California. PNC's commitment highlights its engagement with minority communities and strengthens its focus on economic opportunity.

PNC has launched the Minority Business Development Group to support the growth of minority-owned small businesses, which comprise over 50% of new U.S. businesses yet represent only 18% of total businesses. The initiative aims to address disparities in access to capital and contracting opportunities, with a commitment to originate at least $26.5 billion in loans to minority-, women-, and veteran-owned businesses by 2025. The group will also provide advocacy training through its Certified Minority Business Advocate program, engaging PNC employees in community support to enhance economic opportunities for minority entrepreneurs.