Key Highlights

  • PNC plans to reach more than 370 total new branch locations by 2031, including more than 70 already opened.
  • The expansion adds more than 50 locations in South Carolina and Georgia and 10 more across Texas, Florida and North Carolina.
  • The company plans to open 60 branches per year from 2027 onward, with an Investment of approximately $2.5 billion.
  • PNC expects to hire 2,400 employees as part of the branch expansion.

PNC Bank, the banking Subsidiary of PNC Financial Services Group (NYSE:PNC), said it will broaden its branch expansion to more than 370 total new locations by 2031. The Pittsburgh based bank said more than 70 branches have already opened under its original expansion strategy.

Southeast Growth Plans

The additional branches will add more than 50 new locations in South Carolina and Georgia, which PNC describes as two of the fastest-growing states in the country. The company also plans to build an additional 10 locations across Texas, Florida and North Carolina, where its earlier expansion has progressed. PNC said its presence in the Southeast continues to accelerate, with approximately 200 locations opening across Florida and North Carolina, and targeted buildouts in Atlanta and Nashville.

The company named specific Georgia and South Carolina markets among its targets for the new branches, reflecting what it describes as attractive, high-growth areas. The branch plan forms part of a broader strategy to deepen customer relationships in regions where the bank already has a network.

Investment, Build Pace and Hiring

The company describes the branch plan as an investment of approximately $2.5 billion in its network. Under the plan, PNC intends to open 60 branches per year from 2027 onward. It will also renovate existing locations across all of its markets, which the bank says is intended to support in-branch service.

PNC expects to hire 2,400 employees as part of the expansion. The company said the additional staff will support in-person banking needs and expand access to advice and capabilities for clients.

Strategy and Customer Approach

Executives at the bank described Demand for the in-branch services that its bankers provide, and they linked the expansion to a belief that the physical network supports deeper relationships with customers. Management said clients can bank in person or through other channels, depending on their preferences.

The strategy places the bank in contrast with a trend toward digital-only banking, since the company is adding physical locations rather than reducing its branch footprint.

The expansion adds to a network that already includes a large number of locations in the Southeast. PNC said it is opening approximately 200 locations in Florida and North Carolina, with targeted buildouts in Atlanta and Nashville. The plan therefore combines new markets, such as South Carolina and Georgia, with continued openings in regions where the bank has already built a presence.

The planned pace of 60 branches per year from 2027 is a measure of how the company intends to phase the work across its footprint.

Expanding into states such as South Carolina and Georgia, which the company describes as among the fastest growing in the country, positions the network in areas where population and economic activity are increasing.

The 370-location target also covers renovation of existing branches, which the company said is planned in all of its markets. Renovation and new openings together are part of the investment figure of approximately $2.5 billion, so the spending is not limited to building new sites.

Hiring 2,400 employees across the expansion would add staff in each new market, with bankers handling in-person advice and everyday banking services. The bank's approach ties its branch network to the advice and personalized service it offers clients, which is the case it makes for building in markets that are still growing.

Expansion in Florida and North Carolina, where about 200 locations are opening, gives the bank an existing base from which to serve neighboring Southeast markets. The company says the new branches are designed to offer in-person banking alongside its other channels, letting clients choose how they bank.

Final Word

PNC's expanded branch plan links a multi-year investment of approximately $2.5 billion to a network target of more than 370 new locations by 2031. The Southeast accounts for a large share of the additions, while the company also plans additional branches in Texas, Florida and North Carolina. The pace of openings from 2027 and the hiring of 2,400 employees will show how quickly the network expands across the 28 markets.