PNC Financial Services Group Inc PNC

PNC's Balance Sheet Is Well Positioned for the Current Interest Rate Cycle

PNC is one of the larger regional banks in the US, has a fairly diversified fee base, and has a national presence, but is concentrated primarily in the East and Midwest. The bank has grown substantially from acquisitions, transforming itself with the integration of the troubled National City (doubling the size of PNC) in 2008, acquiring RBC’s US branch network in the Southeast in 2012, and more recently picking up BBVA USA in 2021 (a roughly 25% increase in size).