TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

PNC to accelerate branch closings, CEO says

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

PNC $55.08 -$0.23

at close on TUESDAY

Daily Photo Galleries

Business Photo Galleries

By Thomas Olson
Tuesday, Dec. 4, 2012, 12:14 p.m.
 

PNC Bank will be “closing branches and taking out layers of people” in 2013 to hold down expenses, the bank's CEO told Wall Street analysts Tuesday.

James Rohr said PNC plans to reduce expenses next year by at least $500 million, noting retail banking accounts for about half of its overhead. PNC is the nation's seventh largest bank, and operates about 2,900 branches.

PNC will close two local branches on Feb. 22, on Fifth Street in Freeport and on Beverly Road in Mt. Lebanon, it said Nov. 27.

Subscribe today! Click here for our subscription offers.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Highmark lays off nearly 100 workers, mostly in IT, as membership declines
  2. Toyota Mirai to run on hydrogen fuel cells, widen green-vehicle divide
  3. Nissan’s sport coupe  a performance steal
  4. Severance tax on natural gas drilling backed by Pa. voters
  5. Easier home loan rules worry some
  6. Colorado a handsome contender
  7. Mylan closes $5.3B tax-lowering deal with Abbott Labs
  8. Top residential, commercial deals of the week — March 1
  9. Dominion has strong 2015 legislative session in Virginia
  10. Pa. environmental rules rewrite on shaky track to 2016 deadline
  11. Few in Westmoreland County opposed to expansion plan for Mariner pipeline