Posted on 04/04/2023 4:50:27 AM PDT by EBH
PNC closed dozens of locations in March.
According to the Cincinnati Business Corner, so far this year, PNC has announced 173 branch closures—up from 105 announced by the same point last year. The company has yet to confirm how many banks in total it plans to shutter in 2023.
In December, PNC Bank announced plans to close approximately 32 locations—and just last month, that company closed roughly 28 branches, according to March 18 regulatory filings.
This timing coincides with OCC regulations, which require banks to provide at least 90 days' notice ahead of closures. Virginia will be hit the hardest, losing a total of 11 locations, followed by Texas, which is losing seven locations. New Jersey and Alabama are close behind, losing five branches and four branches, respectively. Maryland and Florida are saying goodbye to three locations each, while Kentucky, Pennsylvania, Arizona, and Ohio bid adieu to two PNC locations. California, Colorado, Illinois, Michigan, and North Carolina will lose just one location each.
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“They want to be your investment advisor, not your bank.”
My local bank recently got swallowed by a larger regional bank—and the phone calls started. This had never happened from my local bank.
I tell the new bank caller “you are not going to sell me anything” and hang up...
Bkmrk
if anything
they might sell your mortgage to another bank
that happened to me twice
the terms of the loan did not change
I just made payments to someone else
Rut Rho!
I think your observation is correct, but does not go far enough.
I believe the decision is already made to convert to a digital financial system with the elimination of cash.
Money as we now know it, whether paper or coin, will disappear. If that takes place, why would banks need tellers or ATM’s? The public will be expected to manage all financial transactions from home or by I-Phone when away from home.
One of the key clues: Long delayed orders for printed checks. believe that to be a key clue that checks will not be an acceptable means of payment.
That’s absurd. I’m able to do all of my banking on my phone, to include paying on my HELOC. Transfers to other institutions are handled the next day if I initiate it before 3. Thank you Credit Union of Texas!
Like it or not, it’s the beginning of the end for brick and mortar banks.
Most all transactions are electronic now. I don’t know the last time I stepped into a bank.
The cost of having them can’t be justified.
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