PNC To Close 127 In-Store Branches at Grocery Stores Across Five States, Including Maryland (Locations Not Yet Named)

by MCS Staff

PNC is closing “about 127 in-store branches at Giant Food and Stop & Shop supermarkets in Maryland, Virginia and the District as well as in New Jersey and Delaware”, according to a report by the Washington Business Journal. The Pittsburgh-based bank will close these branches in waves throughout 2023, according to the report, but has not mentioned which specific branches will be closing.

Late this past spring, PNC began the conversion of what will be 1,000 branches to an automated model. The conversion of all of these branches is expected to be completed by 2026. In September 2020, PNC Chairman and CEO William Demchak announced the bank was on track to close nearly 160 branches that year and another 120 in 2021 (109 ended up closing), as part of the bank’s strategy to lean harder on more prosperous digital sales. In April, Pittsburgh’s WPXI reported that PNC was on track to shutter more than 100 branches by the end of June 2022. In July, PNC reported a second quarter 2022 net income of $1.5 billion.

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