Board of Governors of the Federal Reserve System

05/14/2021 | Press release | Distributed by Public on 05/14/2021 15:10

Federal Reserve Board announces approval of applications by The PNC Financial Services Group, Inc. and PNC Bancorp, Inc.

The Federal Reserve Board on Friday announced its approval of the applications under section 3 of the Bank Holding Company Act of 1956 by (1) The PNC Financial Services Group, Inc., Pittsburgh, Pennsylvania, to acquire BBVA USA Bancshares, Inc., Houston, Texas, and thereby indirectly acquire its subsidiary state member bank, BBVA USA, Birmingham, Alabama, and (2) PNC Financial's subsidiary, PNC Bancorp, Inc., Wilmington, Delaware, to acquire BBVA USA.

Attached is the Board's order relating to this action.

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