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PNC completes conversion of former BBVA branches

🕐 2 min read

PNC Financial Services Group Inc. (NYSE: PNC) on Oct. 12 announced it has completed the conversion of 2.6 million customers, 9,000 employees and nearly 600 branches across seven states from BBVA USA to PNC Bank.

PNC Financial Services Group in November 2020 announced it would acquire the U.S. subsidiary of Spain’s BBVA bank for $11.6 billion in cash. That purchase included BBVA’s 649 branches, including 336 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 in Florida, 37 in Colorado and 18 in New Mexico. Many of those Texas branches are in North Texas.

The bank reports that the simultaneous conversion of BBVA USA customers and employees to PNC’s network and platforms was completed, and BBVA USA branches in Texas, Alabama, Arizona, California, Florida, Colorado and New Mexico reopened October 12, as PNC Bank locations.

“Since the announcement of our definitive agreement last November, we have been looking forward to today – and to introducing PNC as a strong national competitor in all areas of our business,” said PNC Chairman, President and CEO William S. Demchak. “To have achieved this milestone in less than a year is noteworthy and is thanks to the tireless collaboration between PNC and BBVA USA teams. Beginning today, we move forward together as PNC Bank, extending our Main Street model by offering our innovative products and services to even more clients and customers across the country, supporting our new and expanded communities, and ultimately, building and growing strong relationships.”

With the completion of this acquisition PNC now has a coast-to-coast franchise and a presence in 29 of the 30 largest markets in the U.S., providing a network of approximately 2,700 branch locations and 19,000 ATMs, offering PNC customers free access to their cash.

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