PNC Bank Quick Stats

Type – Public (NYSE: PNC)
Founded – 1852 (Pittsburgh National Corporation)
Headquarters – United States Pittsburgh, Pennsylvania
Key people – Jim Rohr, CEO & Chairman
Products – Financial Services
Revenue – US$ 9.956 billion (2008)
Net income – 1.467 USD (2008)
Total assets – US$ 279 billion (2009)
Employees – 61,061 (2009)
Website – www.pnc.com

Brief History

PNC Financial Services traces its history to the Pittsburgh Trust and Savings Company which was founded in Pittsburgh.

As of December 31, 2008, it has assets of approx. $291 billion and PNC operations include a regional banking franchise operating primarily in seventeen states and the District of Columbia.

On February 2, 2010, longtime crosstown rival The Bank of New York Mellon announced a definitive agreement to acquire PNC’s Global Investment Servicing. PNC Bank sold it off in order to pay back its TARP funds, which were used to buy National City Corp., which PNC at the time was still in the process of converting branches over to PNC.

Main Operations

Retail banking – operates a leading community bank in its major markets and is a top-ten Small Business Administration lender

Corporate and institutional banking - operates a top-ten treasury management business and the U.S.’s second-largest lead arranger of asset-based loan syndications.

PNC Mortgage Company –
This is the mortgage division of PNC.

PNC Global Investment Servicing –

Midland Loan Services – a third-party provider of service and technology for the commercial real estate finance industry. It specializes in commercial loan and CMBS portfolio servicing.