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Old 08-08-2012, 09:23 AM
 
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This could be huge for jobs in the Burgh....From what I'm hearing around the watercooler PNC wants a stronger presence in the NY market as well as to strengthen is brand in DC market which buying Capital One Retail Branches will give them both. As well Capital One as a significant TX presence as well that would bring PNC there.

A lot of my NJ co-workers bank with PNC but like me wishes they had more ATM and branches within NYC...

PNC is well on its way to becoming one of the Nationally recognized Big Boy in the leagues of BofA, Chase, Citi, and Wells Fargo, this could be good or bad either way you look at it. Only thing area left for PNC obtain would be a West Coast Presence.

Let's see if this happens, probably wont hear an announcement until sometime in late 2012- early 2013

Edit: The more I think about the more I can seriously see this happening...Capital One seems to want to position its self as more of a Credit play and less focused on Retail Banking.....with there buyout of ING any retail banking they do will be all Online...
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Old 08-08-2012, 09:37 AM
 
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It does seem to make sense that Capital One would seek an exit from retail banking... and their footprint would fit in perfectly.
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Old 08-08-2012, 10:19 AM
 
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The "areas served" part of this shows why Evergrey is correct about the footprints:

PNC Bank vs Capital One in Banks
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Old 09-11-2012, 08:15 AM
 
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Business Briefs: PNC not seeking mergers or acquisitions right now - Pittsburgh Post-Gazette


Quote:
PNC not seeking mergers or acquisitions right now

PNC Financial Services Group, which acquired about 400 bank branches in the Southeast from Royal Bank of Canada in March, is not interested in more mergers or acquisitions, Chairman and CEO James Rohr said Monday. Because of the potential for internal growth, "We have little or no interest in using our capital for M&A at this time," Mr. Rohr said during a financial services conference hosted by Barclays in New York City.
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Old 09-11-2012, 08:42 AM
 
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Quote:
Originally Posted by BrianTH View Post
The "areas served" part of this shows why Evergrey is correct about the footprints:

PNC Bank vs Capital One in Banks
Interesting. PNC serves MANY more areas than Capital One. I always thought Capital One was bigger.

I was pleased to discover there are PNC banches at Ocean City when I needed make a cash withdrawl that exceeded the daily ATM limit.
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Old 09-11-2012, 08:51 AM
 
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Quote:
Originally Posted by Hopes View Post
Interesting. PNC serves MANY more areas than Capital One. I always thought Capital One was bigger.

I was pleased to discover there are PNC banches at Ocean City when I needed make a cash withdrawl that exceeded the daily ATM limit.
Capital One is a strange company. It's known for its credit cards... which have been distributed nationally. It only got into retail banking in 2005 by acquiring a few regional banks... hence its small retail banking footprint. It was an attempt to diversify its lines of business from just credit cards.
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Old 09-11-2012, 09:02 AM
 
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Quote:
Originally Posted by Evergrey View Post
Capital One is a strange company. It's known for its credit cards... which have been distributed nationally. It only got into retail banking in 2005 by acquiring a few regional banks... hence its small retail banking footprint. It was an attempt to diversify its lines of business from just credit cards.
Thanks. That clarifies my confusion perfectly.
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Old 09-11-2012, 09:29 AM
 
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That could be just a cover......Of Course I would expect anything in immediate future as PNC is still handing the expansion in GA and FL...

But from the whispers around the Watercooler Capital One is definitely on the radar for PNC, and the talks have been on going since before PNC took over RBC. Capital One definitely wants out of Retail Banking, even PNC doesn't pick them up, US Bank might be the counter.
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Old 09-11-2012, 01:42 PM
 
Location: Currently living in Reddit
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I was surprised to see PNC advertising in Miller Park during the last Bucs series. Doesn't seem all that long ago when they were mostly just PA/NJ.

I hope they continue their success as my wife's PNC pension is an integral part of our retirement!
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Old 09-11-2012, 01:51 PM
 
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The watercooler isn't always right. PNC might have briefly entertained the idea when approached, then quickly discarded it.
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