PNC Financial Plans 300+ Branches by 2030, Boosts Investment to $2B

The PNC Financial Services Group, Inc.’s PNC banking subsidiary, PNC Bank, N.A. announced plans to open more than 300 new branches by 2030, increasing its total branch investment to about $2 billion. This expansion adds 100 new branches to the company’s earlier plan, unveiled last November, which committed $1.5 billion to open more than 200 new branches and renovate 1,400 existing ones.

The new initiative extends PNC’s retail expansion to nearly 20 U.S. markets, including Nashville, Chicago, Sarasota, and Winston-Salem. The bank also reaffirmed its plan to renovate 100% of its branch network by 2029 and hire over 2,000 new employees to support growth and customer service efforts by 2030.

PNC currently ranks as the fourth-largest branch network in the United States, operating over 2,200 branches nationwide. Alongside its physical presence, the bank serves customers through more than 58,000 PNC and partner automated teller machines (ATMs), digital platforms, and customer care centers. Further, it operates 22 mobile branches that collaborate with community organizations to improve access to banking services for low and moderate-income communities and areas impacted by natural disasters.

PNC Financial’s Expansion Plan

As part of this investment, PNC plans to add about 35 new branches in Nashville, strengthening its presence since entering the market in 2018. Separately, the bank will build 40 additional branches across six Southeast cities, namely, Fort Myers, Lakeland, Sarasota, Asheville, Winston-Salem, and Wilmington, N.C.

By broadening its reach in these high-growth regions, PNC aims to establish itself as a leading financial institution that effectively serves the diverse needs of consumers and businesses of all sizes.

The company is also accelerating its expansion in Chicago, where it plans to open nearly 25 new branches, adding to its 113 existing locations. This investment reaffirms PNC's continued focus on Chicago as a core growth market, enabling the bank to better serve strong local demand while improving customer convenience.

The bank remains committed to its previously announced 2024 plan to open more than 200 branches across major U.S. cities including Atlanta, Austin, Charlotte, Dallas, Houston, Miami, Orlando, Raleigh, San Antonio, and Tampa. This is in addition to the branches being added through PNC’s pending acquisition of FirstBank, which will make the company a leading retail bank in Denver and Phoenix. Collectively, these investments underscore PNC’s commitment to building a national, coast-to-coast franchise.

PNC’s Management Remarks

Alex Overstrom, head of Retail Banking at PNC, stated, "At PNC, we know the importance of building deep local connections. Our branches serve as vital community hubs where trusted relationships are built and financial aspirations made real," Overstrom further added, "The build-out of these 300 new branches allows us to deliver our unique blend of hospitality and financial advice to more clients in more neighborhoods across the country."

Mike D. Johnson, regional president of PNC for Tennessee, stated, "We're excited to grow our footprint in Nashville, a city celebrated for its music, innovation and entrepreneurial spirit,". He further added, "The additional branches strengthen our ability to provide valuable resources and expertise, reflecting our commitment to supporting the region's dynamic economy and vibrant communities."

Scott Swanson, PNC Midwest territory executive and regional president of Illinois, stated, "We're proud to announce the expansion of our branch network—underscoring our strong commitment to Chicago and its diverse neighborhoods, from the Loop to the lakefront and beyond."

Final Thought on PNC Financial

With a $2 billion commitment and over 300 new branches planned, PNC is reinforcing its strategy of combining national scale with local service delivery. By expanding its presence across key growth markets, PNC Financial is likely to witness an increase in its customer base, positioning the bank for sustained growth and solidifying its position as one of the largest retail banks in the United States.

PNC Financial’s Price Performance and Zacks Rank

PNC shares have rallied 5.1% over the past six months compared with 23.6% growth for the industry.

At present, PNC carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Similar Steps Taken by Other Financial Firm

In September 2025, F.N.B. Corp.’s FNB main subsidiary, First National Bank, unveiled its plan to add about 30 new branches to its existing network over the next five years. These new branches will accelerate the company’s ongoing expansion in North Carolina, South Carolina and the Bank's Mid-Atlantic Region, including Maryland, Virginia and Washington, D.C.

This move builds on FNB’s successful expansion strategy in South Carolina, where it has heavily invested in Greenville and Charleston. It has already opened five branches and approximately 160 branded ATMs and downtown regional hubs that offer services in Commercial Banking, Commercial Real Estate, Small Business, Wealth Management and Mortgage.

In the same month, Charles Schwab SCHW announced plans to open 16 new branches, expand or relocate 25 existing ones, and hire above 400 branch-related roles across the United States.

The move highlights SCHW’s belief that in-person relationships are critical even though more clients have started to manage accounts online. The company says that branches are a key growth engine that help convert client relationships into deeper engagement and asset growth.

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