PNC Bank Increases New Branch Openings to More Than 300 by 2030

Rhea-AI Summary

PNC (NYSE: PNC) will open more than 300 new branches by 2030, increasing its prior plan by ~100 locations and raising total branch investment to approximately $2 billion. The bank reaffirmed a goal to renovate 100% of its branch network by 2029 and plans to hire more than 2,000 employees to support retail expansion. Target markets include Nashville (≈35 new branches), Chicago (≈25 added to 113 locations), Sarasota, Winston-Salem and other Southeast and Sun Belt cities. PNC currently operates over 2,200 branches and serves via >58,000 ATMs, mobile channels and 22 mobile branches.

Positive

• Expansion: >300 new branches planned by 2030
• Capital: ≈$2 billion total branch investment
• Renovation: 100% branch network renovation target by 2029
• Hiring: >2,000 new employees to support expansion

Negative

• None.

Insights

Retail banking growth strategist

PNC commits $2 billion to add 300+ branches and hire 2,000 by 2030, expanding in nearly 20 U.S. markets.

PNC increases its physical footprint by adding about 100 branches to prior plans and investing $2 billion, while renovating 100% of its network by 2029. This scales distribution capacity and customer access across new and existing markets, notably Nashville and Chicago, and includes hiring plans of more than 2,000 staff to support retail operations.

The execution risk centers on real estate rollout, hiring and local demand alignment; the company must convert new branches into sustained deposit and fee volumes to justify the capital. Watch branch opening cadence, hiring timelines, and branch-level deposit or client-growth metrics over the next 12–36 months to assess return on this program.

Regional market penetration analyst

Targeted Southern and Midwest expansions deepen presence in growth metros while reinforcing national scale.

PNC targets ~35 new branches in Nashville, ~25 in Chicago, and 40 across six Southeastern cities, building on >200 previously announced openings and an acquisition pipeline. Concentrating builds in specific metros increases brand density and convenience, which can materially lift local market share if customer uptake follows.

Key dependencies include timely completion of renovations by 2029, integration of FirstBank branch additions, and local customer adoption; monitor the pace of openings, branch-level staffing, and any disclosed metrics on deposits or account openings each quarter for the next 1–2 years to judge impact.

Expanding in Eight Additional Markets Including Nashville and Chicago

PITTSBURGH, Nov. 7, 2025 /PRNewswire/ -- PNC today announced it will be opening more than 300 new branches by 2030, adding 100 new branches to the expansion plans announced last November and increasing its total branch investment to approximately $2 billion. The additional branches, in markets including Nashville, Chicago, Sarasota and Winston-Salem, extend PNC's expansion efforts to nearly 20 markets across the United States. PNC also re-affirmed its plan to complete the renovation of 100% of its branch network by 2029. In total, by 2030 PNC also plans to hire more than 2,000 new employees in support of the bank's retail expansion efforts.

"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," said Alex Overstrom, head of Retail Banking at PNC. "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."

Nashville and Southeast Market Expansion
As part of this investment, PNC plans to add approximately 35 new branches to its presence in Nashville, building upon the strong momentum it has seen since entering the market in 2018. PNC also plans to build 40 additional new branches in six other cities across the Southeast, including Fort Myers, Lakeland, Sarasota, Asheville, Winston-Salem and Wilmington, N.C. By expanding its presence in these fast-growing Southeast regions, PNC aims to be a leading bank in these markets, conveniently meeting the needs of consumers and businesses of all sizes.

"We're excited to grow our footprint in Nashville, a city celebrated for its music, innovation and entrepreneurial spirit," said Mike D. Johnson, PNC regional president for Tennessee. "The additional branches strengthen our ability to provide valuable resources and expertise, reflecting our commitment to supporting the region's dynamic economy and vibrant communities. Through continued local investment, PNC is creating more opportunities to deliver tailored financial guidance, innovative solutions and expanded access to resources that help individuals, families and businesses thrive."

Accelerating Growth in Chicago
PNC is also significantly increasing its presence in Chicago, adding approximately 25 branches to its existing 113 locations across the market. This investment reinforces PNC's commitment to Chicago as a key growth market, allowing the bank to continue to meet the strong local demand for its services as well as enhancing customer convenience.

"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," said Scott Swanson, PNC Midwest territory executive and regional president of Illinois. "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. As a city built on resilience and innovation, Chicago inspires us to keep investing in its future."

Remaining Committed to Established Growth Markets
As previously announced in 2024, PNC is committed to building more than 200 branches across strategic growth markets including Atlanta, Austin, Charlotte, Dallas, Houston, Miami, Orlando, Raleigh, San Antonio, and Tampa. This is in addition to the branches being added by PNC's pending acquisition of FirstBank, which will make PNC a leading retail bank in Denver and Phoenix. Collectively, these investments reflect PNC's dedication to building a national, coast-to-coast franchise.

As one of the nation's leading financial institutions, PNC Bank ranks as the fourth largest branch network in the United States, operating over 2,200 branches nationwide. In addition to an extensive and expanding physical presence across the country, PNC serves over 58,000 PNC and partner ATMs nationwide as well as through online and mobile banking platforms and its customer care center. The company also has 22 mobile branches that partner with community organizations to expand banking access to low-and-moderate income communities and provide services to areas devastated by natural disasters.

PNC Bank, N.A., 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.

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

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SOURCE PNC Bank

FAQ

What did PNC (PNC) announce on November 7, 2025 about branch expansions?

PNC announced it will open more than 300 new branches by 2030, increasing its prior plan by about 100 locations.

How much will PNC invest to support the new branch openings?

PNC said it is increasing total branch investment to approximately $2 billion to fund the expansion.

What are PNC's targets for branch renovations and hiring tied to the expansion?

PNC reaffirmed renovating 100% of its branch network by 2029 and plans to hire more than 2,000 employees.

How many new branches will PNC add in Nashville and Chicago as part of the plan?

PNC plans to add about 35 branches in Nashville and roughly 25 additional branches in Chicago.

How does the expansion relate to PNC's existing footprint and FirstBank deal?

PNC currently operates over 2,200 branches and the expansion complements branches to be added through the pending acquisition of FirstBank.