inc. type public traded as nyse pnc s & p 500 component industry financial services predecessor pittsburgh national corporation provident national corporation founded april 10 1845 operational january 28 1852 headquarters tower at pnc plaza pittsburgh pennsylvania united states key people william s. demchak ceo 1 robert q. reilly cfo 1 revenue us 14.326 billion 2011 2 operating income us 4.069 billion 2011 2 net income us 3.071 billion 2011 2 aum us 210 billion 2011 2 total assets us 358 billion 2016 1 total equity us 45 billion 2016 1 number of employees 52 500 2016 1 website pnc.com pnc financial services group inc. stylized as pnc is an american financial services corporation with assets as of december 31 2015 of approximately 358 billion 1 as well as deposits of approximately 249 billion . 1 pnc operations include a regional banking franchise operating primarily in nineteen states and the district of columbia with more than 2 600 branches online and mobile services together with 9000 atms 1 specialized financial businesses serving companies and government entities and asset management and processing businesses . in the u.s. pnc is the fifth largest bank by number of branch offices sixth largest by deposits ninth largest by total assets 3 4 and third largest by number of off premises atms . 5 pnc is based in pittsburgh . for the past three years the better business bureau has received over 500 complaints per year against pnc 6 . contents 1 history 1.1 national city acquisition 1.2 other acquisitions 1.2.1 flagstar bank 1.2.2 rbc bank 1.3 the tower at pnc plaza 2 pnc bank 2.1 virtual wallet 3 primary operations 3.1 retail banking 3.2 pnc credit card 3.2.1 historical credit card outline 3.3 pnc business credit 3.4 corporate and institutional banking harris williams & co 3.5 pnc mortgage 3.6 pnc global investment servicing 3.7 blackrock 3.8 pnc real estate midland loan services 4 community initiatives 5 notable corporate buildings 6 naming rights 7 chief executives 8 see also 9 sponsorships 10 references 11 external links history edit 1970s era pittsburgh national bank logo used until the 1982 merger to form pnc bank . pnc s offices in troy michigan . pnc financial services traces its history to the pittsburgh trust and savings company which was founded in pittsburgh pennsylvania on april 10 1845 . 7 8 due to the long recovery from the great fire of pittsburgh pnc was not fully operational until january 28 1852 9 when it opened offices at liberty avenue and 12th street . the bank was renamed the pittsburgh trust company in 1853 . 10 in 1858 the company located its corporate offices at the corner of fifth avenue and wood street in pittsburgh where they remain to this day . the bank changed its name to first national bank of pittsburgh in 1863 after it became the first bank in the country to apply for a national charter 7 as part of that year s national banking act . 11 it received charter number forty eight on august 5 1863 with other later banks receiving charters sooner due to paperwork problems and the fact that the bank was already in business . 7 10 by 1959 after a series of mergers the bank had evolved into the pittsburgh national bank 12 which later became the leading subsidiary of pittsburgh national corporation . another branch of the current bank the philadelphia based provident national corporation dates back to the mid 19th century . 11 in 1982 pittsburgh national corporation and provident national corporation merged into a new entity named pnc financial corporation . it was the largest bank merger in american history at the time . 11 between 1991 and 1996 pnc purchased more than ten smaller banks and financial institutions that broadened its market base from kentucky to the greater new york metropolitan area . 11 in 2005 pnc acquired washington d.c. based riggs bank . 11 pnc completed the acquisition of maryland based mercantile bankshares on march 2 2007 . 11 on june 7 2007 pnc announced the acquisition of yardville national bancorp a small commercial bank centered in central new jersey and eastern pennsylvania . the transaction was completed in march 2008 . 11 on july 19 2007 pnc announced the acquisition of sterling financial corporation a commercial and consumer bank with accounts and branches in central pennsylvania northeastern maryland and delaware . the transaction was also completed in 2008 . 11 national city acquisition edit for more details on this topic see national city acquisition by pnc . in an october 9 2008 article in the wall street journal pnc was cited by unnamed sources as one of the leading contenders to acquire cleveland based national city bank . on october 24 2008 pnc announced that it would acquire national city corp. for us 5.2 billion in pnc stock . 13 the acquisition which helped pnc double in size and to become the sixth largest bank in the united states by deposit and fifth largest by branches came hours after pnc sold 15 % of its stake to the united states treasury as part of the 700 billion bailout plan which it repurchased within two years . the deal was approved by shareholders of both banks on december 23 2008 14 and completed on december 31 2008 . 15 the deal made pnc the largest bank in pennsylvania ohio and kentucky as well as the second largest bank in maryland and indiana . it also greatly expanded pnc s presence in the midwest as well as entering the florida market . national city complemented pnc s presence as western pennsylvania cincinnati ohio and louisville kentucky were among the few markets before the acquisition deal in which both banks had a major presence . 16 pnc completed the conversion of the national city branches on june 14 2010 having its footprint stretch from new york city to st. louis with branches as far south as miami and as far north as sault ste. marie michigan on the upper peninsula of michigan . in december 2013 the department of justice and the consumer financial protection board announced that they had reached an agreement with national city bank to resolve allegations that the bank had charged black and hispanic borrowers higher prices for mortgages . in the complaint regulators claimed that national city had violated the fha and ecoa by charging more than 75 000 borrowers higher loan rates based on their race or ethnicity rather than their risk level . national city s lack of pricing guidelines resulted in black borrowers being charged an average of 159 more in extra upfront fees or higher interest than white borrowers . black borrowers also paid an average of 228 more annually over the life of the loan than white borrowers . hispanics paid 125 more upfront and 154 more annually than white borrowers . under the terms of the settlement pnc was required to pay victims 35 million . 17 other acquisitions edit a report in the december 15 2010 issue of the american city business journals reported that pnc was looking to expand its florida presence and that it was in talks to acquire birmingham alabama based regions financial corporation which would have greatly increased pnc s presence in the southern united states . 18 since the december 15 report the dow jones reported through the wall street journal that regions financial was never in talks to be acquired by pnc . 19 after pnc moved into regions home market of birmingham through the rbc bank deal in march 2012 rumors of a potential pnc regions deal down the road came up again . 20 it was also reported that pnc had been in discussions with bankatlantic 18 was finalized on january 31 2011 when pnc bought bankatlantic s tampa bay area branches . 21 the bankatlantic deal which did not include its south florida branches where pnc already has a presence closed in june 2011 . flagstar bank edit on july 26 2011 it was announced that pnc would acquire 27 branches in the northern atlanta suburbs from flagstar bank . 22 the deal was estimated to be worth about 42 million and pnc assumed about 240 million in deposit accounts . the deal was complete as of december 2011 . rbc bank edit on june 19 2011 pnc agreed to purchase rbc bank from royal bank of canada for 3.45 billion . 23 with 426 branches total rbc bank had a significant presence in southern virginia north carolina south carolina georgia alabama and florida . of these regions pnc had existing branches only in florida which were rebranded when the national city merger occurred . although announced over a month before the flagstar bank deal the sale of rbc bank did not close until march 2 2012 three months after the flagstar deal . bb & t which later acquired the parts of bankatlantic that pnc did not buy was also in talks to acquire rbc bank . 23 pnc entered growing markets in the southeastern us such as birmingham charlotte norfolk virginia beach hampton roads mobile north florida richmond greensboro winston salem piedmont triad and raleigh durham research triangle . at the same time it expanded pnc s presence in south florida tampa bay area to orlando and atlanta . this acquisition filled a gap in pnc s market footprint between northern virginia and central florida adding about 900 000 customers and 483 atm locations . it made pnc the fifth largest bank by branches behind wells fargo bank of america chase and u.s. bank and the sixth largest by total assets behind the aforementioned four banks and citibank . 4 the tower at pnc plaza edit one pnc plaza . pnc s former corporate headquarters in downtown pittsburgh . on may 23 2011 pnc unveiled plans for a new 400m corporate headquarters building in downtown pittsburgh . 24 the new building known as the tower at pnc plaza will be a 40 story 800 000 square foot 74 000 m2 skyscraper approximately 600 feet tall at the intersection of fifth avenue and wood street . pnc will own the building and occupy all the space except for street level storefronts which it will lease to retail tenants . the tower at pnc plaza plans to be one of the world s most environmentally friendly skyscrapers . some of its features will include a double glass facade to reduce cooling costs and promote natural airflow into the building a high efficiency climate control system to heat or cool specific zones of the building as needed and a pair of living rooftops to collect and channel rainwater and reduce heat gain . alternative energy sources such as fuel cells and solar and geothermal power are being considered in an effort to reduce carbon emissions . 25 pnc bank edit pnc bank branch located in the historic national bank of washington building in washington d.c. pnc bank na is the principal subsidiary of the pnc financial services group inc. based in pittsburgh pennsylvania pnc bank offers consumer and corporate services in over 2 500 branches in alabama delaware the district of columbia florida georgia kentucky indiana illinois maryland michigan missouri new jersey new york north carolina ohio pennsylvania south carolina virginia west virginia & wisconsin . 26 pnc owns about 21 % of publicly traded fund manager blackrock . in june 2003 pnc bank agreed to pay 115 million to settle federal securities fraud charges after one of its subsidiaries fraudulently transferred 762 million in bad loans and other venture capital investments to an aig entity in order to conceal them from investors . 27 pnc acquired the former united national bancorp based in bridgewater new jersey in 2004 and later announced that it would buy the riggs national bank which operated in the washington dc area . among other offenses riggs had aided chilean dictator augusto