PNC Financial Services Group announced this week that it had acquired BBVA USA Bancshares and could be transferring its branches and systems by the fall, including at least seven locations in Southeast Texas.
Through this transaction, PNC now is the fifth-largest U.S. commercial banking organization with over $560 billion in assets.
“Our acquisition of BBVA USA accelerates our national expansion and positions us to increase shareholder value over time by bringing our industry-leading technology and innovative products and services to new markets and clients,” William S. Demchak, PNC’s chairman, president and CEO, said in a statement.
BBVA’s branches and systerms could change by October of 2021, but PNC said both companies will continue offering service in-person and online through the transition.
PNC will provide comprehensive information to BBVA USA customers prior to the conversion, according to the company.
jacob.dick@beaumontenterprise.com
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Source: beaumontenterprise.com
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