PNC Plans To Close 200 Branches, St. Louis May Be Impacted

PNC Financial Services Group is closing many locations this year in a move which they intend to have save them $700 million.

The closures are part of a move to help PNC balance the banking services handled at branches with the online and ATM services that are offered.

The Pittsburgh-based PNC has 2,900 branches, with the cuts set to reduce the total number to 2,700. St. Louis has 33 PNC branches including ATMs, meaning that the area might feel the impacts of the cuts. PNC currently has $1.64 billion in deposits in St. Louis, as well as a 2.02 percent market share.

Read more at the St Louis Business Journal

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