PNC Financial Services Group is investing roughly $2 billion to expand and modernize its branch network, a contrarian move as many banks shrink their physical footprints. The bank plans to open more than 300 branches across nearly 20 U.S. markets and renovate its existing network by 2029, while hiring over 2,000 employees by 2030. The expansion focuses on high-growth regions, particularly the Southwest, and was boosted by the January 2026 acquisition of FirstBank Holding Company, which added 95 branches and strengthened PNC's presence in Colorado and Arizona. The strategy aims to blend physical expansion with modern banking capabilities to serve complex customer needs like mortgages and wealth management, though it will pressure near-term operating expenses. PNC currently has approximately 2,315 brick-and-mortar branches nationwide.
PNC Financial Services Group IncThe $2 billion investment will pressure near-term operating expenses.
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