The PNC Financial Services Group history

The bank was renamed The Pittsburgh Trust Company in 1853.

In 1858, the company located its corporate offices to the corner of Fifth Avenue and Wood Street in Pittsburgh, where they remain to this day.

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

Another branch of the current bank, the Philadelphia-based Provident National Corporation, dates back to 1865.

In 1922, the Provident Life and Trust Company split into two independent entities: Provident Mutual Life Insurance Company and Provident Trust Company.

In 1946, First National of Pittsburgh and Peoples-Pittsburgh banks joined to form Peoples First National Bank and Trust Co.

The latter company combined with Provident Tradesmens Bank and Trust Company to create Provident National Bank in 1957.

In 1959, Peoples First 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 1969, the bank reorganized as a holding company, Pittsburgh National Corporation.

GIS, established in 1973 and with 4,700 employees, was the second-largest full-service mutual fund transfer agent in the U.S and the second-largest full-service accounting and administration provider to United States mutual funds.

In 1982, Pittsburgh National Corporation and Provident National Corporation merged into a new entity named PNC Financial Corporation.

PNC Bank Corp.'s immediate forerunner was PNC Financial Corporation, formed in 1983 from the merger of two Pennsylvania banking concerns, the Pittsburgh National Corporation and the Provident National Corporation.

In 1984, PNC acquired the Marine Bank of Erie, Pennsylvania.

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.

With its network spread throughout Pennsylvania, Kentucky, Ohio, and Delaware, PNC was the premier super-regional in the United States by 1987 and had become the nation's twelfth largest banking group.

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

In 1990, PNC made the strategic decision to move from separate technology platforms, operated by each individual bank, to a single common platform.

In 1991, PNC went through a restructuring program that reflected PNC’s desire to diversify its holdings.

In 1992, all of PNC’s affiliated companies and banks took on the name PNC Bank; the following year PNC Financial Corp., became PNC Bank Corporation.

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.

During 1996, its customers had purchased $5.6 billion in mortgages.

A 1997 American Banker article reported that "banks have failed at cross-selling in the past because they embraced mass marketing, instead of a targeted approach, and did not follow up." PNC however, felt that its mortgage business was well positioned to excel at this new approach.

In 1998, PNC acquired Hilliard Lyons for $275 million in cash and stock.

PNC also spun off 30 percent of its BlackRock subsidiary in 1999 at $14 per share.

According to Forbes, it is considered one of the top 2000 largest public companies in the world.

In 2001, PNC sold the original PNC Mortgage to Washington Mutual due to volatility in the market.

PNC also came under fire during 2002 as the Federal Reserve Board and the Securities Exchange Commission announced that it was investigating PNC's accounting practices.

In 2003, PNC acquired United National Bancorp.

In 2004, PNC acquired United National Bancorp based in Bridgewater, New Jersey for $321 million in cash and 6.6 million shares of its common stock.

In 2005, PNC began outsourcing mortgages to Wells Fargo.

In August 2006, PNC got back into the credit card business by marketing and issuing credit cards under the MasterCard brand in partnership with United States Bancorp.

7, 2007), a provider of portfolio accounting and enterprise wealth management services, and Coates Analytics Group LP (transaction closed on Dec.

GIS serviced $1.9 trillion in total assets and 58 million shareholder accounts. It was known as PFPC until July 2008.

The sale, which closed on July 1, 2010, further focuses PNC on its core banking business while offering PNC GIS the scale and scope to compete more effectively throughout the world.

In December 2011, PNC acquired 27 branches in the northern Atlanta suburbs with $240 million in deposits and $42 million in book value from Flagstar Bank.

On July 30, 2012, PNC announced plans to put ATMs in 138 Harris Teeter grocery stores in the Carolinas, plus 53 other stores.

In September 2014, PNC acquired Solebury Capital Group, a capital markets advisory firm, for $50 million.

On October 2, 2015, the Tower at PNC Plaza, the bank's new headquarters on the corner of Fifth Avenue and Wood Street in Downtown Pittsburgh opened.

In November 2017, the company acquired The Trout Group, an investor relations and strategic advisory firm servicing the healthcare industry.

The company ranked 165th on the 2018 Fortune 500 list of the largest United States corporations by revenue.

In August 2019, PNC launched a Fintech incubator subsidiary called "numo" that functions as an internal startup.

In May 2020, the company sold its stake in BlackRock.