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

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. If you get this letter from the IRS, it’s legitimate
  2. Home appraisal is below sales price — now what?
  3. Corporate missteps hurt reputations, profits, sometimes in long run
  4. Increased credit card use reflects confidence, flat wages
  5. Komando: Boost cellphone signal when nixing landline
  6. Venting online about job protected
  7. Farmers fund research on gluten-free wheat
  8. Tourists rush to visit Cuba before American influence felt
  9. Falling demand for steel not likely to reverse any time soon
  10. Stafford: Hirers bemoan wasted time with some applicants
  11. France plane crash victim’s father calls for airlines to focus on pilot welfare