ALLEGHENY COUNTY, PA (PTTP) – On Jan. 25, PNC Bank announced that they will close
three branches in the city of Pittsburgh. PNC has tracked that over the past 10 years, their foot
traffic in their banks have declined significantly to the point where closure of banks would save
money yet retain their bank users.
These closures come from a plan PNC released back in 2023 to control expense growth. By Oct.
2023 PNC bank cut 4% of workers nationwide which was estimated to have saved $325 million
and also shut down 239 branches. PNC is planning to close 19 more branches this year by Feb.
16, five of those in Pennsylvania and three in Pittsburgh.
As for Pittsburgh on Jan. 25, three locations – 5932 Centre Ave., 178 Bakery Square Blvd. and
4761 Liberty Ave. – were all confirmed to be closed on April 19. In place for these three, a brand
and ‘state-of-the-art’ new branch will replace them and open on 161 South St. Clair St.
Banking as a whole has taken the route to be predominantly contact-less with the surge of
customer service and online banking that provides most if not all the services an average banker
needs on a daily basis. The bank branches that are brick and mortar, record that the human
interaction and foot traffic is due to the use of their ATM’s.
The chief executive of PNC Bank stated that, “[PNC Banks] adjust our physical footprint and
increase our digital footprint, if that’s what clients demanded.” PNC Bank has to do this at a rate
and efficiency to retain and grow members as every other major bank corporation has increased
their technology in the online banking space and to follow the industry wide trend throughout
many customers.
The new PNC Bank location in Pittsburgh is nestled about a mile away from the Bakery Square
Blvd. and Liberty Ave. locations and a third of a mile from the Centre site. Ultimately providing a
happy medium for PNC bank users that need in-person assistance in Pittsburgh.
PNC Bank will continue at a rampant speed to shut down branches where they see fit throughout
this year.