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Thomas Olson 412-320-7854
Business Writer
Pittsburgh Tribune-Review

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Tuesday - June 18, 2013

Business Photo Galleries

Esmark celebrates new headquarters in Edgeworth

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.

1. Bernanke comments on stimulus’ end stagger stocks
2. News Alert
3. Health care law remains deeply divisive
4. FedEx 4Q profit drops as economic growth is weak
5. Fed suggests it’s closer to slowing bond purchases
6. Highmark to extend self-insurance plans to small businesses
7. Familiar face -- and company founder -- loses Men’s Wearhouse job
8. PNC to phase out free checking accounts
9. It’s about what you can bring
10. More choose to buy into jobs
11. SEC investigation to continue into ‘suspicious’ acquisition of Heinz stock option

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