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Pastore recently served as market leader for PNC Corporate Banking in Northern Ohio. He succeeds Paul Clark, who plans to retire March 31.

The transaction is expected to close in the second quarter of 2019, subject to customary conditions. AFG, a provider of balance sheet management, investment banking and capital markets services to banks, insurance companies, and other financial institutions, will become a subsidiary of PNC Bank within the Capital Markets Financial Institutions Group.

PNC recognizes that some customers may be negatively affected by the partial shutdown of certain Federal departments and agencies, and we are working with customers who are experiencing difficult or unexpected issues as a result.

Clark’s career at PNC spans 43 years; serving as regional president in Cleveland for 14 years.  Retirement is effective March 31.

Joseph Alvarado, Richard Harshman and Toni Townes-Whitley will join PNC's board, effective immediately.  In addition, PNC's board of directors declared a quarterly cash dividend on the common stock of 95 cents per share.

Increase in prime lending rate announced. New rate of 5.50 percent is effective Dec. 20, 2018.

Reminder issued to the holders of outstanding warrants to purchase common stock of PNC (NYSE: PNC.WS) that the warrants will expire on Monday, Dec. 31, 2018.

Financial results expected to be issued at approximately 6:45 a.m. (ET), Wednesday, Jan. 16, 2019 as previously announced. Conference call for investors to be held the same day at 10:00 a.m. (ET).

$200 million senior secured credit facility for Armada Partners, LP (Armada).

Chairman, President and CEO William S. Demchak discussed business performance, strategy and banking in a moderated discussion format.