PNC Bank plans to open more than 100 retail banking centers, primarily in the nation's Sun Belt, as well as renovate more than 1,200 existing locations in its national real estate portfolio through 2028.
The proposed expansion by the Pittsburgh-based bank, expected to cost about $1 billion, comes as other banks have exited some of its less desirable retail branches throughout the United States. PNC Bank has identified Austin, Dallas-Fort Worth, Denver, Houston, Miami and San Antonio as some of its key markets where it seeks to expand its business.
By adding to these U.S. areas, PNC Bank officials said it will improve the convenience and reach of its national network of bank retail branches. The renovation of existing locations is also expected to offer a better customer experience.
PNC Retail Banking Head Alex Overstrom said the branch network is the "heartbeat of our retail business" offering a convenient and friendly service to millions of customers who walk into these locations every month.
"As one of the largest retail banks in the United States, our vast branch network, alongside our other core banking channels, plays a key role in how we serve and provide solutions to our customers across the country," he added in a statement Wednesday.
In all, the bank has about 2,300 brick-and-mortar retail branches in the United States. The company has about 15,000 branch employees who work in these locations.
In Texas, PNC Bank already has begun filing for work permits to build retail hubs.
Two new PNC bank locations in Dallas and Houston recently were registered with the state for a work permit. Each project, retrofitting existing retail space to a bank location, is expected to cost $1.3 million, according to the state's website.
The Dallas retail location is planned for 6322 Gaston Ave. and the Houston retail location is planned for 7003 Harrisburg Blvd. Both projects are expected to begin in April. The Houston retail location is to be combined from two existing retail spaces, the state permit said.
The upgrades to the retail locations are expected to include new finishes and layout with plans to convert the space "into a new PNC via an interior buildout" with a waiting room, as well as new lighting, electrical and ductwork as part of the project scope, the bank told state officials. GPD Group of Akron, Ohio, was the designer listed on both Texas projects.