PNC Bank Expands Branch Buildout to More Than 370, Will Build 60 Branches Per Year

The expanded network plan includes approximately $2.5 billion in investment and an expected 2,400 hires.

Rhea-AI Summary

PNC Bank (PNC) expanded its planned branch buildout to more than 370 new locations by 2031, including branches already opened. More than 70 locations have opened since the original expansion strategy was announced. The approximately $2.5 billion network investment includes plans to open 60 branches annually from 2027 onward and renovate existing locations across all markets.

The expansion adds eight markets in South Carolina and Georgia, bringing total buildout markets to 28. PNC plans more than 50 additional branches across those two states and another 10 across Texas, Florida and North Carolina. The bank expects to hire 2,400 employees as part of the expansion. Active digital users grew 9% year over year in the third quarter.

6 points · 0 major

PositiveiHow this balance works

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0 major · 1 point

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate point. Forward-looking: it has not happened yet and may not happen.Branch buildout targets more than 370 new locations by 2031, including more than 70 already opened.
• Moderate pointActive digital users grew 9% year over year in the third quarter.
• Minor point. Forward-looking: it has not happened yet and may not happen.Annual branch openings are planned at 60 from 2027 onward, alongside renovations across all markets.
• Minor point. Forward-looking: it has not happened yet and may not happen.Southeast expansion adds more than 50 planned branches in South Carolina and Georgia.
• Minor point. Forward-looking: it has not happened yet and may not happen.Texas, Florida and North Carolina will receive 10 additional planned branches.
• Minor point. Forward-looking: it has not happened yet and may not happen.Expansion hiring is expected to bring 2,400 employees into the bank.

Negative

• Moderate point. Forward-looking: it has not happened yet and may not happen.Network expansion and renovations entail an approximately $2.5 billion investment.

Key Figures

Planned new locations: More than 370 branches Annual branch openings: 60 branches per year Additional Southeast branches: More than 50 branches +2 more

Planned new locations

More than 370 branches

Total buildout by 2031, including more than 70 already opened

Annual branch openings

60 branches per year

Planned from 2027 onward

Additional Southeast branches

More than 50 branches

Planned in South Carolina and Georgia

Planned hires

2,400 employees

As part of the expansion

Active digital user growth

9%

Year-over-year growth in the third quarter

Key Terms

asset-based lending

1 terms

asset-based lending financial

"specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending;"

Asset-based lending is a type of loan where a borrower uses tangible assets — such as inventory, accounts receivable, equipment, or real estate — as collateral to secure credit. For investors, it matters because the quality and liquidity of the pledged assets affect the lender’s risk and the borrower’s borrowing capacity; like borrowing against items in a pawnshop, stronger assets generally mean safer loans and clearer recovery options if the borrower defaults.

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Expansion in South Carolina and Georgia Adds Eight Markets, Bringing Total Buildout Markets to 28

PITTSBURGH, Nov. 6, 2026 /PRNewswire/ -- PNC Bank today announced it will broaden its branch expansion to more than 370 total new locations by 2031, including more than 70 branches already opened since announcing its original expansion strategy. The additional branches will strengthen PNC's presence across the Southeast, adding more than 50 new locations in South Carolina and Georgia, underscoring the company's commitment to two of the nation's fastest-growing states. In addition, given the success PNC has experienced in its previously announced expansion markets, the company plans to build an additional 10 locations across Texas, Florida and North Carolina.

As part of this approximately $2.5 billion investment in its network, PNC plans to open 60 branches per year from 2027 onward while renovating its existing locations across all markets, reinforcing its commitment to delivering exceptional in-branch hospitality across the country. In total, PNC expects to hire 2,400 employees as part of this expansion, bringing more bankers into more communities to support the in-person needs of more clients.

"We're seeing strong demand for the incredible hospitality, advice and personalized service that our bankers provide across the country every day," said Jeff Martinez, head of Branch Distribution and Sales Management at PNC. "The positive feedback and strong results have reinforced our confidence in doubling down on our expansion strategy and continuing to grow our network. These new branches will help us continue to deepen relationships, expand access to our advice, expertise and capabilities and make it easier for clients to bank with us however they choose."

Building on Strong Performance Across the Southeast
PNC's growth in the Southeast continues to accelerate as it opens approximately 200 locations throughout Florida and North Carolina, along with targeted buildouts in Atlanta and Nashville. Building on this momentum, PNC plans to add more than 50 new branches in Georgia and South Carolina, targeting attractive, high-growth markets, including:

• Greenville, SC: 12 Branches
• Charleston, SC: 9 Branches
• Columbia, SC: 9 Branches
• Myrtle Beach, SC: 5 Branches
• Spartanburg, SC: 4 Branches
• Hilton Head, SC: 3 Branches
• Savannah, GA: 6 Branches
• Augusta, GA: 5 Branches

"We're excited about expanding our presence across the Southeast and bringing our capabilities to more of the country's fastest growing markets," said Jim Hansen, Southeast territory executive at PNC. "With the addition of 50 more branches in South Carolina and Georgia, this next phase of our expansion will enable our team to meaningfully contribute to the region's growth, serve local clients and create impact for communities."

Expanding Access Through Physical and Digital Banking
To complement the branch expansion, PNC continues to introduce more capabilities to help clients manage their financial lives digitally. This includes the new PNC mobile app, which was recently rolled out to all clients nationwide and saw 9% year-over-year growth in active digital users in the third quarter. The combination of strong digital capabilities and an expanding set of coast-to-coast locations allows PNC to fully meet the needs of its millions of clients in delivering banking how, where and when they like. While clients increasingly bank digitally, branches continue to play an important role in delivering advice, building relationships and helping clients and businesses achieve their financial goals.

Part of a Broader National Expansion Strategy
The expansion announced today builds upon PNC's broader national strategy and continued focus on markets with strong long-term growth potential. In recent years, PNC has expanded its presence in major growth markets across the country, including Austin, Chicago, Dallas, Denver, Houston, Phoenix and San Antonio.

The planned Southeast expansion will further strengthen the bank's ability to serve clients where population and economic growth are creating new opportunities for individuals, families and businesses.

PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.

CONTACT:

Darby Rowe
(717) 824-6314
darby.rowe@pnc.com

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SOURCE PNC Bank

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many branches does PNC plan to build, and when?

PNC plans a total buildout of more than 370 new branches by 2031, including more than 70 already opened since its original expansion announcement. It plans to open 60 branches per year from 2027 onward.

Which new markets are included in PNC's South Carolina and Georgia branch expansion?

The eight added markets are Greenville, Charleston, Columbia, Myrtle Beach, Spartanburg and Hilton Head in South Carolina, plus Savannah and Augusta in Georgia.