PNC Financial Services Group Inc announces four-year, $88B Community Benefits Plan to bolster economic opportunities for underserved individuals and communities bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
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DBusiness Daily Update: Comcast Awards $1M to 100 Area Minority Businesses, PNC Announces $88B Community Benefits Plan, and More
Our roundup of the latest news from metro Detroit and Michigan businesses as well as announcements from government agencies, including updates about the COVID-19 pandemic. To share a business or nonprofit story, please send us a message.
Courtesy of Bridge, as of April 27
Our roundup of the latest news from metro Detroit and Michigan businesses as well as announcements from government agencies, including updates about the COVID-19 pandemic. To share a business or nonprofit story, please send us a message.
Select Page PNC Plans $88B in Community Investments By Diane McLaughlin | Banker & Tradesman Staff | Apr 28, 2021 | Reprints | Print
PNC Financial Services Group’s planned acquisition of an Alabama-based bank will bring additional community investments to all PNC’s markets, including Greater Boston.
PNC this week announced a new Community Benefits Plan that will provide $88 billion in loans, investments and other financial support to bolster economic opportunity for low- and moderate-income (LMI) individuals and communities, people and communities of color, and other underserved individuals and communities. The initiative will last four years and begin Jan. 1, 2022.
The bank said the plan was developed as part of the anticipated regulatory approval and closing of PNC’s acquisition of BBVA USA Bancshares Inc. and its U.S. banking subsidiary, BBVA USA. Through the initiative, PNC will invest in areas currently served by PNC and new geographi
Flagstar Bancorp Inc., a top 20 mortgage lender that does business nationwide, is merging with the nation’s largest thrift, New York Community Bancorp Inc., in a $2.6 billion deal will give the combined company nearly 400 branches in nine states.
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Flagstar Bancorp Inc., a top 20 mortgage lender that does business nationwide, is merging with the nation’s largest thrift, New York Community Bancorp Inc., in a $2.6 billion deal will give the combined company nearly 400 branches in nine states.
Thomas R. Cangemi
New York Community’s president and CEO, Thomas R. Cangemi will lead the combined company, which will be heaquartered in Long Island, New York. Cangemi called Flagstar “a like-minded partner” that will provide a “diversified revenue stream, an improved funding mix, and leverage our scale and technology, as we transition away from a traditional thrift model.”