PNC Bank, National Association history

PNC Financial Services traces its history back to 1845, when the Pittsburgh Trust and Savings Company was founded in Pittsburgh, Pennsylvania.

In 1847, the Tradesmens National Bank of Philadelphia opened its doors.

In 1853, the bank changed its name to The Pittsburgh Trust Company.

In 1863, the bank was renamed First National Bank of Pittsburgh.

In 1946, First National Bank of Pittsburgh merged with Peoples-Pittsburgh Trust Company to form Peoples First National Bank & Trust.

In 1959, Peoples First National Bank & Trust merged with Fidelity Trust Company to form Pittsburgh National Bank.

After more than a century of banking and a series of name changes and acquisitions, it became the Provident National Bank in 1964.

In 1982, Pittsburgh National Corporation merged with Provident National Corporation to form a new entity named PNC Financial Corporation.

In 1985, Thomas H. O'Brien replaced the retiring Merle Gilliand as CEO at PNC. At 48, O'Brien was the youngest CEO of any major United States bank.

In 1986, the Hershey Bank joined the group.

Like many banks throughout the world, PNC was forced to set aside huge sums as a provision against bad debt in Third World countries in 1987.

In 1988, PNC acquired the Central Bancorp of Cincinnati and the First Bank and Trust of Mechanicsburg.

A restructuring in 1991 further reflected PNC's desire to diversify its holdings by focusing company's operations on four core businesses: corporate banking, retail banking, investment and trust management, and investment banking.

PNC Financial Corporation itself changed its name to PNC Bank Corp. in early 1993.

In 1994 a third major nonbank acquisition bolstered the bank's asset management area.

Early in 1995, PNC purchased 84 branches in southern and central New Jersey from Chemical Banking Corp. for $504 million.

In 1998, PNC acquired Hilliard Lyons.

In 2000, PNC Financial Corporation changed its name to PNC Financial Services Group.

In 2005, PNC began outsourcing mortgages to Wells Fargo.

In March 2007, PNC acquired Mercantile Bankshares.

In 2008, PNC acquired National City Corporation.

In 2010, PNC sold its Global Investment Servicing (GIS) subsidiary to the Bank of New York Mellon.

In 2014, PNC acquired Solebury Capital Group, a capital markets advisory company.

In 2018, PNC acquired Fortis Advisors, a provider of post-merger shareholder services.