The PNC Financial Services Group, Inc. (NYSE: PNC), today announced its plans to make banking easy for customers in the Greater Washington Area after it launches local operations this May. In addition, the company said that it has entered into alliances with three well-regarded area institutions as part of its longstanding commitment to support and improve the communities PNC serves.
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PNC unveiled the plans at a news conference held at the Riggs Bank Corcoran Building, downtown. The event featured Michael N. Harreld, PNC's regional president for the Greater Washington Area, and Washington, D.C., Mayor Anthony A. Williams. The company officially plans to enter the Greater Washington Area upon completion of its previously announced merger with Riggs National Corporation, which is expected to close on May 13, 2005, pending appropriate regulatory and shareholder approvals.
As part of today's event, PNC detailed the four most significant elements of its plan to enhance customer convenience.
- Free ATMs - Customers with one of PNC's three popular select accounts
will enjoy free access to all ATMs nationwide. Currently, PNC does not
charge customers to access their accounts at any of its more than 3,600
ATMs in 39 states, the nation's 8th largest network. Now PNC will
automatically provide a rebate when customers incur a surcharge as a
result of using the ATM of another bank or provider - anywhere in the
United States.
- Expanded and Sunday Branch Hours - PNC will increase branch hours in
Greater Washington by more than 50 percent when compared to current
Riggs branch hours. The majority of PNC branches will operate on the
following scheduled: 9 a.m. through 7 p.m. Monday - Friday; 9 a.m.
through 4 p.m. on Saturday; and 11 a.m. through 3 p.m. on Sunday. Most
other branches will be open from 9 a.m. through 6 p.m. Monday - Friday.
- Thirty New Branches - PNC plans to almost double the size of its branch
system in Greater Washington by opening roughly 30 new offices across
the region during the next three or more years. Plans call for three
new branches to open on May 16, 2005 - one each in Silver Spring, Md.,
Alexandria, Va., and Arlington, Va. Later this year, two more will open
in Oakton, Va., and Rockville, Md. PNC, the first and only U.S. bank
whose newly constructed branches are built with environmentally
friendly features, will announce plans for the remaining new branches
when they are finalized.
- Making It Easy For Customers to Move to PNC - Non-PNC customers can
easily switch to PNC over the Web (at http://www.pnc.com/ ), by phone or
when visiting a branch by using a tool designed to take the hassle out
of moving a checking account to a new bank.
"Through these enhancements, we will offer customers the ability to conduct business with a greater level of ease and convenience than virtually any of our competitors in this region," said Harreld, who will be responsible for overseeing all aspects of PNC's operations in Greater Washington, including retail banking, corporate banking, wealth management and community- based activities. "Soon, we will detail additional steps we are taking to benefit under-served children, targeted neighborhoods and others in this unique and diverse community. As we do in every region we serve, PNC will make a substantial investment in a wide range of efforts that help fuel economic and community development."
To support the company's growth efforts, PNC announced that it anticipates hiring more than 150 people by the end of this year and nearly 400 total by 2008 to fill positions in its branch system, business banking unit, retail investment unit and other areas.
Teaming Up With Well-Regarded Washington Organizations
Joining Harreld and Mayor Williams at today's event were: David Cope, vice president of the Washington Nationals; David Levy, president of the Corcoran Gallery of Art; and Terrence Jones, president of the Wolf Trap Foundation for the Performing Arts in Vienna, Va. The three were on hand to help announce recently signed partnerships with PNC.
The Official Bank of the Washington Nationals. PNC entered into an exclusive multi-year agreement to serve as the official bank of the Washington Nationals. Through this alliance, PNC will work with the Nationals to develop debit cards, checks and other banking products that feature the team's logo and offer customer benefits such as discounts on tickets and Nats merchandise. PNC ATMs will be located throughout RFK Stadium and the company will air commercials during Nationals television and radio broadcasts. In addition, the company and the team will partner to provide baseball-related educational programming as part of PNC Grow Up Great, a 10-year, $100 million initiative to help children from birth to age five become better prepared for school and life.
A First-Ever Warhol Exhibit at the Corcoran. As part of this alliance, PNC will sponsor a major exhibit of Andy Warhol's art in September 2005, the first time an extensive display of the famed artist's work will appear in Washington, D.C. The Warhol exhibit will run for four months at the Corcoran. PNC and the Corcoran will announce additional details soon.
The Official Sponsor of Wolf Trap's Summer Blast Off. PNC will serve as the official sponsor of this festive summer season opening event at the Wolf Trap State Park for the Performing Arts in Vienna, Va. The Summer Blast Off will occur on May 29, 2005. It features music by the President's own United States Marine Band followed by a fireworks display. The Summer Blast Off is free to the public.
"We are very pleased to team with these three well-regarded organizations and celebrate some of the best Washington has to offer," said Harreld. "These relationships and our efforts to make banking easy for our customers are the first of many steps we will take to establish PNC as a leading corporate citizen in Greater Washington."
The PNC Financial Services Group, Inc. is one of the nation's largest diversified financial services organizations providing consumer and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services.
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SOURCE: The PNC Financial Services Group, Inc.
CONTACT: Brian E. Goerke of PNC Financial Services Group, Inc.,
+1-412-762-4550, or corporate.communications@pnc.com
Web site: http://www.pnc.com/
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