06/02/2021 | Press release | Distributed by Public on 06/03/2021 11:53
BIRMINGHAM, Ala., June 2, 2021 - Following the acquisition of BBVA USA, PNC Bank, N.A. today announced new appointments to the leadership team for Alabama, led by Nick Willis, who continues in the role of regional president for Northern and Central Alabama. Completion of the acquisition was announced June 1, with PNC emerging as the fifth largest U.S. commercial banking organization with more than $560 billion in assets and a coast-to-coast presence in 29 of the 30 largest markets in the country.
Willis joined PNC in 2012 and has served as a PNC regional president since 2017. Prior to his current position, Willis served as the company's market leader for Corporate Banking. As regional president, Willis will continue to lead the combined organization's efforts to provide customers and clients with access to a full range of products and capabilities. Through PNC's Main Street Bank model, he also will drive the bank's continued efforts to support local communities across the state.
'As an Alabama native, I am proud to work alongside several great leaders and our growing team in Alabama. We take seriously the opportunity we have to serve our customers and communities and build on the legacy of banking strength that began with Central Bank of the South and runs through BBVA USA,' said Willis.
PNC is providing BBVA USA customers comprehensive information relating to the anticipated conversion of their accounts in October 2021. Until conversion, customers will continue to be served through their respective BBVA USA and PNC branches, website and mobile apps.
Joining Willis are additional members of the market leadership, including:
Together, these executives will lead PNC's growth in Alabama, where the combined organization will rank second in deposit market share.
'Our BBVA USA acquisition solidifies Birmingham's reputation as an essential banking hub, and it puts us in a great position to leverage the combined strengths of our high-performing teams here to help us accelerate our national expansion into other key markets across country,' said Louis R. Cestello, executive vice president and head of PNC's Regional Markets. 'Over the next few months, we'll continue to bring the best of both companies together, and draw on our mutual experience as industry leaders to deliver exceptional service and support to our local clients and communities across Alabama.'
Consistent with its commitment to investing in technology, innovation and talent development, Birmingham will become one of PNC's Technology Development Centers. The PNC Technology Center will provide the combined company with a larger technology footprint as well as access to high-performing talent throughout the Southeast. PNC currently operates technology hubs in multiple locations throughout the U.S., including Pittsburgh and Cleveland.
'We believe that by driving innovation at a faster pace, we have the opportunity to fundamentally change the way banking is conducted,' added Willis. 'We are committed to evolving existing technology and investing in new ideas - and we expect our new Birmingham Technology Center will play a significant role in our ability to deliver on these commitments.'
Also in support of its communities and in connection with its acquisition of BBVA USA, PNC recently announced a Community Benefits Plan to provide $88 billion in loans, investments and other financial support to create economic opportunity for low- and moderate-income (LMI) individuals and communities, people and communities of color, and other underserved individuals and communities. Beginning in 2022, this four-year plan will be largely carried out at a local level by PNC's Community Development Banking teams in all its markets across its now-expanded national footprint.
The Community Benefits Plan also includes a commitment to maintain or increase the current levels of philanthropic support provided to community groups in Birmingham in recognition of the history of the city as the headquarters city of BBVA USA and its predecessor bank.
As part of PNC's focus to move all forward financially, the bank also plans to expand the reach of its innovative banking products and initiatives. This includes the company's recent announcement of its groundbreaking Low Cash Mode℠ digital offering, which is designed to help PNC's Virtual Wallet® customers avoid overdraft fees and remain in the banking system through unprecedented account transparency and Payment Control features to manage through low-cash moments or mis-timed payments. Following conversion, Low Cash Mode℠ will be available to BBVA USA customers with Virtual Wallet accounts.
Over the coming months, PNC and BBVA USA will continue to operate as separate entities and brands while working together closely to ensure a smooth transition for BBVA USA employees and customers.
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.