PNC Sets $2.5 Billion Plan for 370-Plus Branch Buildout by 2031

PNC plans to invest about $2.5 billion in its branch network and reach a buildout of more than 370 locations by 2031, including more than 70 that are already open.

The bank announced the plan Friday, Nov. 6, at 8:30 a.m. ET (13:30 UTC). It plans to open 60 branches annually starting in 2027 and renovate existing locations across its markets. The 370-plus total includes locations opened since the expansion strategy began.

The planned buildout includes 53 locations across eight cities in South Carolina and Georgia. Greenville is slated for 12 branches, while Charleston and Columbia each have nine. The listed targets also include six in Savannah, five each in Myrtle Beach and Augusta, four in Spartanburg and three in Hilton Head.

PNC also plans 10 locations across Texas, Florida and North Carolina. The expansion is expected to involve hiring 2,400 employees.

“We’re seeing strong demand for the incredible hospitality,” said Jeff Martinez, PNC’s head of Branch Distribution and Sales Management.

The plan updates PNC’s November 2025 goal to invest about $2 billion, open more than 300 branches by 2030 and renovate its entire network by 2029. The current target extends the branch buildout to more than 370 locations by 2031, with an annual pace of 60 openings beginning in 2027.