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Old 12-30-2014, 05:37 AM
 
Location: Delaware
388 posts, read 852,655 times
Reputation: 348

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This topic was brought up in another thread and kind of died there so I thought I would ask again in a dedicated thread to the subject itself.

The Dover branch of PNC Bank on US13 by the old K-mart is closing next month - not moving but closing. That will leave just 2 branches of the bank in the state capital, one downtown and the other on rte 8 west by Redner's. There had been some talk from a PNC official I spoke with last year about a possible branch being built in Camden as that area is rapidly growing and I was told they did indeed have their eye on that area. However, nothing has been mentioned since. A branch closing, and not just moving, is a bad sign, I think, of their confidence in a city. Does anyone know anything about the possibility of a PNC branch coming to Camden or any other area close to Dover?
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Old 12-30-2014, 06:55 AM
 
7,355 posts, read 10,792,272 times
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Quote:
Originally Posted by little eggplant View Post
Does anyone know anything about the possibility of a PNC branch coming to Camden or any other area close to Dover?
I don't, sorry to say, little eggplant.
CNB (Centreville National Bank) is the up and coming bank around Camden, Dover. With the First National Bank of Wyoming being sold to WSFS, CNB became the bank of choice for many of us, and also the Amish community around Wyoming. CNB bought Felton Bank a couple years ago, and then built a new branch in front of Lowes/Camden. This past Fall, they also purchased the First National Bank of Wyoming's Governors Avenue branch, in Dover. They are renovating it and it should open mid January. CNB is the closest thing to a hometown bank for us. It quickly filled the void for us, when First National Bank of Wyoming sold out.
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Old 12-30-2014, 07:05 AM
 
Location: Former LI'er Now Rehoboth Beach, DE
7,868 posts, read 10,549,490 times
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RDLR, I recall that you predicted this, with sadness, well over a year ago. We opted for a hometown bank here in Rehoboth when we moved. The little guys seem to be getting eaten up country wide.
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Old 12-30-2014, 07:39 AM
 
Location: Delaware
388 posts, read 852,655 times
Reputation: 348
I have to kind of chuckle when I hear references to wanting a hometown bank because I am originally from Pittsburgh, PA and there PNC WAS a hometown bank as its headquarters are there! I have banked with them for close to 45 years. Yes, over the decades they have grown and are now in, I believe, 14 eastern states. When we moved to DE 4 year ago, there was no question as to which bank to sign on with for local banking. Sad, to me, to see them apparently leaving Dover.
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Old 12-30-2014, 01:40 PM
 
Location: Lewes, DE
350 posts, read 351,935 times
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Quote:
Originally Posted by little eggplant View Post
I have to kind of chuckle when I hear references to wanting a hometown bank because I am originally from Pittsburgh, PA and there PNC WAS a hometown bank as its headquarters are there! I have banked with them for close to 45 years. Yes, over the decades they have grown and are now in, I believe, 14 eastern states. When we moved to DE 4 year ago, there was no question as to which bank to sign on with for local banking. Sad, to me, to see them apparently leaving Dover.
Agree, Little Eggplant. We are from Pittsburgh too and most people are very surprised when we tell them PNC originally was Pittsburgh National Bank (PNB), and then Pittsburgh National Corporation (PNC) when they started to expand. It is now in 19 states + the District of Columbia and has over 2,700 branches. Of course another Pittsburgh hometown bank was Mellon, which is now BNY Mellon since it merged with Bank of New York. And it wasn't until I lived in Minneapolis that we learned that TCF Bank was originally a small bank in St. Paul called Twin Cities Financial.

Today there are so many multi-state banks, and the business landscape is so competitive that expansion, contraction, and mergers are always financial decisions. If PNC is pulling out of Dover I would take that as a competitive casualty vs. any comment on their view of Dover's stability as a market.

I am lucky that the bank we used in Minneapolis and Chicago (Wells Fargo) has an office on Route 1 in Lewes, so we didn't have to find a new bank. It is the only local office but boy are they ever busy when we go.

I agree with others that supporting small, local banks is also a great way to go, especially if you don't plan on relocating over the next few years.
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Old 12-31-2014, 10:56 AM
 
Location: Polish Hill, Pittsburgh, PA
30,184 posts, read 67,332,997 times
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I'm a recent employee of PNC, and I can safely assure you that physical bank branch closures are not limited to Dover, DE. The organization's strategy is to reduce expenditures by reducing physical bank branch locations since the vast majority of younger people these days rarely use a brick-and-mortar bank. I haven't been in a bank in two years myself. I deposit checks with my mobile app, deposit cash in ATMs, transfer money between accounts and schedule bill payments online, etc. You can apply for a credit card or loan through the bank's web site. Other than a cashier's check for a down payment on a house there wouldn't be any reason I could envision myself going to the bank over the next few years.

I will never get the fascination people had with waiting forever in line just to go up to a teller and tell them stories about their dancing cats when they could have just as easily put their cash into the ATM or their check into their account via a Smartphone and been on to their next errand in mere seconds. Must be a lot of lonely people out there.
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Old 12-31-2014, 12:33 PM
 
7,355 posts, read 10,792,272 times
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Originally Posted by SteelCityRising View Post
I'm a recent employee of PNC, and I can safely assure you that physical bank branch closures are not limited to Dover, DE. The organization's strategy is to reduce expenditures by reducing physical bank branch locations since the vast majority of younger people these days rarely use a brick-and-mortar bank. I haven't been in a bank in two years myself. I deposit checks with my mobile app, deposit cash in ATMs, transfer money between accounts and schedule bill payments online, etc. You can apply for a credit card or loan through the bank's web site. Other than a cashier's check for a down payment on a house there wouldn't be any reason I could envision myself going to the bank over the next few years.

I will never get the fascination people had with waiting forever in line just to go up to a teller and tell them stories about their dancing cats when they could have just as easily put their cash into the ATM or their check into their account via a Smartphone and been on to their next errand in mere seconds. Must be a lot of lonely people out there.
Sorry you never had the opportunity to live in a small down, and do business with a small town bank. It's not at all as you described, in Kent or Sussex County, Delaware, but then you live in Pittsburgh. As a recent employee of PNC, you haven't yet learned that "young" people, for the most part, are not the ones with the money. Older, seasoned depositors with regular large monthly deposits from retirement funds, social security checks, and investments should not be bashed. Your boss would not be happy to see this post, and if he did, you'd be a "former" employee, not a "recent" employee. As a matter of fact, since you hold yourself out to be a spokesperson and representative of PNC Bank, I wouldn't recommend that bank to anyone.
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Old 12-31-2014, 02:34 PM
 
Location: Polish Hill, Pittsburgh, PA
30,184 posts, read 67,332,997 times
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Quote:
Originally Posted by rdlr View Post
Sorry you never had the opportunity to live in a small down, and do business with a small town bank. It's not at all as you described, in Kent or Sussex County, Delaware, but then you live in Pittsburgh. As a recent employee of PNC, you haven't yet learned that "young" people, for the most part, are not the ones with the money. Older, seasoned depositors with regular large monthly deposits from retirement funds, social security checks, and investments should not be bashed. Your boss would not be happy to see this post, and if he did, you'd be a "former" employee, not a "recent" employee. As a matter of fact, since you hold yourself out to be a spokesperson and representative of PNC Bank, I wouldn't recommend that bank to anyone.
I am a "former" employee. In an era of self-checkouts, self-serve kiosks, etc. becoming commonplace why should banking be any different? When I worked there I couldn't care less about someone's cats when they were selfishly holding up the line behind them. I guess people in Delaware aren't as busy as people in Pittsburgh and have much more time on their hands to just wait in line and gab.
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Old 12-31-2014, 02:38 PM
 
261 posts, read 320,043 times
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Quote:
Originally Posted by SteelCityRising View Post
I will never get the fascination people had with waiting forever in line just to go up to a teller and tell them stories about their dancing cats when they could have just as easily put their cash into the ATM or their check into their account via a Smartphone and been on to their next errand in mere seconds. Must be a lot of lonely people out there.

SteelCityRising. I am happy that you find digital services for banking that suit your lifestyle. That model works fantastically well for a segment of the market. A business the size of PNC is wise to serve multiple market segments.

Banks do derive profit from deposits, but those accounts are for relatively small dollars.
They actively pursue clients for their wealth management business. Such customers tend to
be older, but not always, and typically have more money to invest over the long term.
They range in background from the person of modest means who saved over the long term to
young professional to people with inter-generational family wealth.

These clients are offered premium services. A key ingredient to cementing such long term
clients is building relationships. Depending on level of investment this includes lunch "seminars"
to learn about new products, football tickets, golf games, etc. A few years ago, I made
a large deposit from a mutual fund account for the purpose of buying a house. Within a
week, the wealth management machinery at PNC kicked into action.


Banks also actively pursue lucrative corporate payroll accounts for services such as payroll,
management of tax withholding, retirement plans, corporate cards, etc. These are also built on relationships that are actively nurtured and maintained. I encourage you to visit a branch and observe
all of the corporate drops when customers deposit their daily or weekly receipts and look at
the interaction between the person depositing and the bank managers.

I encourage you to take a look at PNC's 10-Q statements and find out for yourself what
is important to PNC bank. Its far beyond your on-line deposits and transactions.
Corporate and Institutional Banking comprised the largest percentage of PNC's revenue.
Such ventures, whether small business or large business, are built on relationships.

So, you would be well served not to discount human-to-human interactions. I wish you
all the best in your profession.

Last edited by newmassphd; 12-31-2014 at 02:52 PM.. Reason: typo
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Old 12-31-2014, 03:40 PM
 
7,355 posts, read 10,792,272 times
Reputation: 14938
Quote:
Originally Posted by SteelCityRising View Post
I am a "former" employee. In an era of self-checkouts, self-serve kiosks, etc. becoming commonplace why should banking be any different? When I worked there I couldn't care less about someone's cats when they were selfishly holding up the line behind them. I guess people in Delaware aren't as busy as people in Pittsburgh and have much more time on their hands to just wait in line and gab.
Oh, I thought I read "recent employee of PNC"

.....Originally Posted by SteelCityRising
I'm a recent employee of PNC

At any rate, I do hope you find gainful employment soon, in an area where you have no contact with pesky customers. Maturity comes with patience and experience. I wish you the very best.
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