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A HUGE national bank has continued to downsize its operations, closing another nearly 30 locations on Saturday.
PNC Bank is officially shuttering 29 locations on August 18, as part of a larger cost-saving effort.
The closures come after the bank already closed 47 locations in June.
And the bank intends on closing a total of 147 locations, as it focuses more on online banking.
As part of the effort, 60 percent of PNC’s banking business will become exclusively online.
The change reflects an evolving customer base with different needs, a spokesperson told The U.S. Sun.
“We have grown our PNC branch footprint over the past five years – by building out new branches and through acquisitions – while total industry branches have declined,” they said.
“At the same time, we also make decisions to close branches as customer needs evolve. As always, we will continue to invest in – and optimize – our branch network alongside our other core banking channels to serve our customers in the most effective way we can.”
Most of the locations closing are located in major grocery chains.
They are scattered across multiple states, mainly in the mid-Atlantic and southern United States.
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States seeing closures include Maryland, Virginia, Florida, Alabama, and Indiana.
PNC still has 2,600 locations and an estimated 60,000 ATMs scattered across the nation.
Check out the PNC locator portal to find a branch or ATM near you.
Banks are just one industry reducing its physical footprint.
Many industries, from retail to grocery, have closed numerous locations in the last year.
Causes range from a long-term shift to e-commerce to the economic after-effects of the Covid-19 pandemic.
One silver lining for shoppers is the opportunity to take advantage of large liquidation sales.
For instance, a major GAP location is slated to close on August 24.
The Tacoma Mall location is offering sales of up to 40 percent as it prepares to shut its doors later this week.
As with PNC Bank, The closure is part of a larger strategy to downsize.
The company plans on closing 350 Gap and Banana Republic locations by the end of the year.
A major PNC competitor is also closing locations.
And a much larger bank is also cutting back.
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