PNC Bank Closing 200 Locations, Fate of Local Branches Unknown
The Narberth and City Avenue PNC branches will not close in the first quarter of 2013, but their overall fate is unknown.
Pennsylvania-based PNC Bank will close roughly 200 branches across 19 states and Washington, D.C. before the end of 2013, PNC spokesperson Amy Vargo told Patch on Thursday.
The specific branches to be closed have not been announced, but the Narberth, Wynnewood and City Avenue branches of PNC Bank are not among those set for closure in the first quarter of 2013, Vargo said.
Because branch closures are only finalized 90 days ahead of time, it is unknown whether local branches will be on the chopping block later in the year.
PNC is striving to reduce costs by $700 million in 2013, Pittsburgh Business Times reported last month. The company has roughly 2,900 branches in 19 states and Washington, D.C.
Two hundred is an approximate number of closures, Vargo said, and PNC is "constantly evaluating its branch network." The final number of branches to be cut will only be known at the end of the year.