Former Pizza Hut executive buys 53 local outlets, plans upgrades Oct 21, 2009
With PNC Financial Services Group Inc. providing funding, Buss expects to spend more than $15 million to upgrade and modernize the restaurants over the next five years. He also hopes to establish six new Pizza Hut locations in the next three years. (Pittsburgh Business Times, PA)
URA tour highlights Pittsburgh development Oct 20, 2009
At the new 23-story high-rise by PNC Financial Services Group Inc., the building is progressing with its office component, with the law firm Reed Smith now moved since August. However, the opening of the project s Fairmont hotel has been pushed back until next March after previous efforts to get open this year fell through. (Pittsburgh Business Times, PA)
Crocs to open 1st Colo. store Oct 16, 2009
Crocs (NASDAQ: CROX) announced Sept. 30 it had arranged for up to $30 million in revolving loans for working capital with the PNC Financial Services Group Inc.. The injection-molded footwear maker reported a loss of $30. (Denver Business Journal, CO)
Stocks Rise as Energy Gains Offset Drop in Banks Oct 16, 2009
"Things are going in the right direction but the fundamental economic improvement is slow," said Robert Dye, senior economist at PNC Financial Services Group in Pittsburgh. 1. (ABC News -- Wire)
Market Close Hangs on to 10,000 Level Oct 16, 2009
"Things are going in the right direction but the fundamental economic improvement is slow," said Robert Dye, senior economist at PNC Financial Services Group. "The tendency is for the markets to get ahead of themselves and have to be rebalanced periodically.". (CBS News)
Verbruggen sentenced in Dynus scandal Oct 16, 2009
(National City has since been acquired by PNC Financial Services Group. . (Cincinnati Business Courier, OH)
Inflation not a likely threat in rebound Oct 16, 2009
The CPI "is within the range most economists would call appropriate," said Mr. Dye, senior economist at PNC Financial Services Group in Pittsburgh. "I think this report will be within the Fed's acceptable range.". (Pittsburgh Post-Gazette, PA)
Economists: Great Recession over, but ... Oct 13, 2009
Economists: The Great Recession is over, but. - Eye on the Economy- msnbc. (MSNBC -- Business)
Green Walls Taking Root in Green Building Design Oct 12, 2009
PNC Financial Services Group Inc. recently installed a green wall the size of two tennis courts on one side of its headquarters. Like green roofs their perpendicular counterparts green walls are covered in vegetation and provide the benefits of natural insulation and removal of air pollutants. (ABC News -- Business)
Dow closes down Wednesday; Alcoa up 2% Oct 8, 2009
PNC Financial Services Group Inc. (NYSE:PNC). PPG Industries Inc. (NYSE:PPG), down 0. (Pittsburgh Business Times, PA)
Winters Shows JPMorgan Bankers a Path to Safety, Dimon Shows Him the Door Oct 7, 2009
He was never a quitter, said , the senior vice chairman at PNC Financial Services Group Inc. who helped build JPMorgans derivatives business with Winters. He could have walked away a long time ago, but he stuck around to make the bank better. (Bloomberg -- US)
PNC's TARP repayments reach $332 million Oct 6, 2009
Pittsburgh-based PNC Financial Services Group Inc., on Thursday declared a common stock dividend of 10 cents per share as well as dividends on seven series of preferred shares. That includes preferred shares issued to the U.S. Treasury Department as part of its $7. (Dayton Business Journal, OH)
Mortgage demand falls despite lower rates Oct 2, 2009
Prices yet to bottomStuart Hoffman, chief economist at PNC Financial Services Group in Pittsburgh, does not expect another leg down in home sales but is not convinced that prices have hit bottom because of the large inventory of unsold homes. Home prices rose in July for the third straight month, surpassing forecasts and bolstering the case for housing stability, based on the Standard & Poor's/Case-Shiller indexes reported on Tuesday. (MSNBC -- Business)
Dow drops 209 points by Thursday close Oct 2, 2009
PNC Financial Services Group Inc. (NYSE:PNC), down 4. 57 percent to $46. (Pittsburgh Business Times, PA)
Crocs Enters Credit Facility Agreement With PNC Oct 1, 2009
The financing provided by PNC Bank, a member of The PNC Financial Services Group Inc., will be used for working capital needs and other items. Shares of Crocs added 12 cents to $6. (ABC News -- Wire)
Crocs laces up $30M in credit Oct 1, 2009
The Niwot shoemaker (NASDAQ: CROX) said entered into the new asset-backed revolving credit facility on Sept. 25 with the PNC Financial Services Group Inc.. This new asset-backed credit facility provides us with additional liquidity and flexibility as we continue to invest in our strategic initiatives and facilitate the company s turnaround, Crocs CFO Russ Hammer said in a statement. (Denver Business Journal, CO)
Foreclosure suit hits X/O condo site Oct 1, 2009
The bank, now owned by Pittsburgh-based PNC Financial Services Group Inc., alleges in the foreclosure suit that the development group missed interest and property tax payments and failed to pay off the loan when it came due in June 2008. Related story. (Crain's Chicago Business)
First Niagara announces stock offering Sep 24, 2009
Flush with cash, the bank then bought 57 branches in western Pennsylvania that PNC Financial Services Group had to divest from its acquisition of National City Corp. Soon after that deal, First Niagara raised $380 million. CEO John Koelmel has said the bank was able to raise capital because upstate New York s real estate market was relatively stable and it did not incur heavy loan losses. (Philadelphia Business Journal, PA)
Fed Likely to Leave Economic Supports in Place Sep 23, 2009
"We're kind of in an economic purgatory right now. We're in a recovery but it won't feel like one to Main Street," said Stuart Hoffman, chief economist at PNC Financial Services Group. "There's still a lot for the Fed to do to foster a lasting economic recovery.". (ABC News -- Business)
Panel talks of issues confronting G-20 here Sep 23, 2009
It was sponsored by the Pittsburgh Post-Gazette and PNC Financial Services Group at the new August Wilson Center for African-American Culture, Downtown, yesterday. "For the organizers of these meetings, drama is a bad thing. There tends to be a high level of self-congratulation instead," said James Dobbins, director of the RAND International Security and Defense Policy Center. (Pittsburgh Post-Gazette, PA)
Banks closing many branches for Pittsburgh summit Sep 23, 2009
Generally, the banks say they re closing because of traffic restrictions and security measures which will result in far fewer customers than normal in the city during the summit Sept. 24-25 at the David L. Lawrence Convention Center (Somerset Daily American, PA)
Bank access limited during summit Sep 22, 2009
PNC Financial Services Group will close all Downtown branches tomorrow through Friday except two: one at Three PNC Plaza and the National City branch on Stanwix Street. ATMs at all locations will operate throughout the week for withdrawals and deposits with the exception of those that normally don't handle deposits, said PNC spokesman Fred Solomon. (Pittsburgh Post-Gazette, PA)
Home Sales, Goods Orders Probably Climbed as U.S. Emerged From Recession Sep 20, 2009
We are coming out of recession and we are in the early stage of a very fragile recovery, said , chief economist at PNC Financial Services Group Inc. in Pittsburgh. Its an infant recovery that needs a lot of care and nurturing, and that means no rate hikes from the Fed. (Bloomberg -- US)
Town hall meeting set for Tuesday Sep 20, 2009
The Pittsburgh Post-Gazette, in conjunction with PNC Financial Services Group, will hold a free town hall meeting on Tuesday to discuss the implications of the G-20 summit before the world leaders arrive in Pittsburgh. The meeting, which will be held from 6:30 to 8 p.m. at the new August Wilson Center Theater on Liberty Avenue, Downtown, is the third in a series of town hall meetings that have previously touched on the economy and the presidency of Barack Obama. (Pittsburgh Post-Gazette, PA)
Dundee to head Marvin Lewis fund Sep 16, 2009
Dundee had been vice president and marketing manager in Cincinnati and Northern Kentucky for National City, which was acquired by PNC Financial Services Group (NYSE: PNC) in December 2008. A resident of Newport, she earned a bachelor s degree from Thomas More College. (Cincinnati Business Courier, OH)
First Niagara borrows $150 million from PNC Sep 10, 2009
First Niagara Financial Group Inc., Lockport, N.Y., said Tuesday it has exercised an option to borrow $150 million from PNC Financial Services Group Inc., Pittsburgh, through the sale of senior notes. It was part of First Niagara s (Nasdaq:FNFG) purchase of 57 former National City branches from PNC (NYSE:PNC), which was completed Tuesday. (Pittsburgh Business Times, PA)
CEO: First Niagara off to good start in Erie Sep 9, 2009
First Niagara's arrival in the Erie market can be traced to PNC Financial Services Group Inc.'s purchase of National City Corp. That purchase, aided by $7. 7 billion from the federal government's Troubled Asset Relief Program, or T.A.R.P., was announced in October. (Erie Times-News, PA)
Switch to First Niagara sees a few problems Sep 9, 2009
First Niagara acquired the branches from PNC Financial Services Group, which was required to divest them to settle antitrust concerns when it took over ailing Cleveland-based National City Corp. in December. PNC kept about 110 National City branches in Western Pennsylvania, which it plans to convert to the PNC system in November. (Pittsburgh Post-Gazette, PA)
Aug. jobless rate hits 9.7% with businesses 'reluctant to hire' Sep 5, 2009
"It's still a weak report," says Stuart Hoffman, chief economist at PNC Financial Services Group. "But having said that, it is showing that the rate of layoffs and the rate of job losses are starting to tail off.". (USA Today -- Money)
Loan in default for Skokie retail project, bank says Sep 5, 2009
National City was acquired in October by Pittsburgh-based PNC Financial Services Group Inc. A PNC spokesman and a Chicago lawyer for the bank could not be reached for comment. Follow ChicagoRealEstateDaily. (Crain's Chicago Business)
Personal Credit Reports Reflect Business Loans Sep 5, 2009
But that has been changing as technology makes cross-reporting more feasible, says Jordan Peterson, senior vice-president for business banking at PNC Financial Services Group (). "In the past, banks didn't have technology to report business-loan data back to the credit bureaus," Peterson says, but automation has become more common over the last decade. (BusinessWeek)
First Niagara arrives in Western Pennsylvania Sep 5, 2009
First Niagara Financial yesterday completed the takeover of 57 former National City bank branches from PNC Financial Services Group, vaulting the Buffalo, N.Y., area company to the third-largest retail bank in the Pittsburgh region, behind PNC and Citizens Bank of Pennsylvania. First Niagara will convert customer accounts over the weekend. (Pittsburgh Post-Gazette, PA)
Verizon COO Strigl To Retire Sep 4, 2009
Strigl currently serves on the boards of Verizon Wireless, Eastman Kodak Company, PNC Financial Services Group and PNC Bank. More Content. (Multichannel News)
Do insurance policies cover civil unrest? Sep 3, 2009
Spokespersons for PNC Financial Services and Dollar Bank also declined comment on their G-20 preparations and Citizens Bank did not respond to inquiries. Steve Twedt can be reached at or 412-263-1963. (Pittsburgh Post-Gazette, PA)
Credit-Card Satisfaction Falls on Higher Fees, Rates Sep 2, 2009
Its grade was 762, followed by Discover Financial Services (DFS) and National City Corp., which is now owned by PNC Financial Services Group Inc. (PNC). First Premier Bank and Credit One Financial Inc. (COFI) were rated the two worst. (SmartMoney)
Top Pay at TARP Banks Exceeds Average for S&P 500 Executives, Study Shows Sep 2, 2009
9 million each for American Express Co. and PNC Financial Services Group Inc., the study showed, based on calculations using proxy statements. $3. (Bloomberg -- US)
Business Owners Guide to the G-20: Marketing strategies Sep 1, 2009
Green is the color of money, but PNC Financial Services Group Inc. wants to reinforce its track record in green building during the G-20. Pittsburgh s largest bank is installing a six-story vertical garden of living plants on its Downtown headquarters building that will be completed in time for the summit s start. (Pittsburgh Business Times, PA)
Pittsburgh 100: Raptor Partners Aug 29, 2009
Wolfanger spent the first half of his career on Wall Street and the past 15 years in Pittsburgh, working for PNC Financial Services Group Inc. and Parker/Hunter, which is now Janney Montgomery Scott, before starting his own company. Raptor now employs six. (Pittsburgh Business Times, PA)
Consumer confidence on the rise Aug 26, 2009
"Consumers are much more optimistic that the next six months will bring an improving economy, not deterioration," said Stuart Hoffman, chief economist at PNC Financial Services Group in Pittsburgh. He cautioned that the expectations index was very volatile. (Pittsburgh Post-Gazette, PA)
Point's fountain coming out of mothballs Aug 26, 2009
Riverlife already has received commitments totaling about half of the amount needed for the fountain work from corporate contributors including PNC Financial Services, Allegheny Technologies, U.S. Steel, PPG, Duquesne Light, Eat'n Park, Highmark and EQT.. A permanent fix for the fountain is part of the $40 million, four-year, Point State Park renovation project to improve the green spaces, recreational opportunities, historical installations and outdated amenities at the confluence of the... (Pittsburgh Post-Gazette, PA)
Stocks gain after Bernanke, economic news Aug 26, 2009
PNC Financial Services rose 91 cents, or 2. 2%, to $42. (USA Today -- Money)
Five PNC top officers get additional 2009 salary in stock units Aug 25, 2009
PNC Financial Services Group Inc. is giving five top officers additional 2009 salary paid in stock units, according to an Aug. 21 filing with the Securities and Exchange Commission. The move nearly triples Chairman and CEO Jim Rohr s pay this year and almost quadruples Vice Chairman William Demchak s.. (Pittsburgh Business Times, PA)
Dwelling House: Tight ship to nightmare Aug 24, 2009
" The FBI and Pittsburgh police were investigating and declined to make an official statement. One law enforcement officer, who is close to the case and spoke on condition of anonymity, said the probe is moving slowly because so many agencies are involved and it's hard to get a clear picture of what went on because of Dwelling House's bookkeeping problems. While the 119-year-old bank had made strides into the computer era, much of its business was still handled the old-fashioned way -- by hand.... (Pittsburgh Post-Gazette, PA)
Pace of U.S. Existing Home Sales Fastest in 2 Years Aug 22, 2009
"It's really going to take home prices to broadly stabilize and come back a bit before you want to characterize the housing market as being fully recovering," said Craig Thomas, a senior economist at PNC Financial Services Group in Pittsburgh. "I will say there is not an indicator out there that doesn't suggest we are not moving in that direction.". (ABC News -- Wire)
Existing homes selling fast - record fast Aug 22, 2009
That's one reason why Robert Dye, a senior economist for PNC Financial Services, is keeping his optimism in check. "I wouldn't go overboard on this number," he said. (FOX19.com, OH)
First Niagara filming ads in Pittsburgh Aug 20, 2009
First Niagara (Nasdaq:FNFG) is buying 57 former National City branches from PNC Financial Services Group Inc., 50 of which are in the Pittsburgh metro area. The transaction will position First Niagara as Pittsburgh s fourth largest bank by deposits and fifth by branches. (Pittsburgh Business Times, PA)
PNC takes over Dwelling House Aug 18, 2009
Customers of Dwelling House Savings & Loan became clients of PNC Financial Services Group yesterday following the regional bank's takeover of the tiny Hill District institution this weekend ... " The 119-year-old minority-owned financial institution that famously embraced low-income people that other banks steered clear of became another footnote in Pittsburgh's history when the federal Office of Thrift Supervision determined late Friday it had no hope of recovering heavy capital losses.... (Pittsburgh Post-Gazette, PA)
Colonial BancGroup Shut Down by Regulators Aug 16, 2009
All of the thrift's deposits and about $3 million of its assets are being assumed by PNC Bank, part of Pittsburgh-based PNC Financial Services Group Inc.. "The past 18 months have been a very trying period in the financial services arena, but the FDIC and its staff have performed as Congress envisioned when it created the corporation more than 75 years ago," FDIC Chairman Sheila Bair said in a statement. (Law.com)
Biggest U.S. Bank Failure of 2009 Aug 16, 2009
PNC Bank, part of Pittsburgh-based PNC Financial Services Group Inc., has agreed to assume all of Dwelling House's deposits and about $3 million of its assets; the FDIC will retain the rest for eventual sale. 1. (ABC News -- Business)
'Worst is over, economy levelling out' Aug 14, 2009
They see the worst with the economy is behind us but they dont want to jump the gun and pull back quickly, said Craig Thomas, a senior economist at PNC Financial Services. Also Read. (India Times)
PNC renews agreement with First Data Corp. Aug 14, 2009
PNC Financial Services Group Inc., Pittsburgh, has renewed and expanded its agreement with First Data Corp., Denver, for transaction processing services to include some credit card processing, PIN debit and ATM processing it gained through its acquisition of National City Corp. Financial terms were not disclosed. First Data has provided transaction processing services to PNC (NYSE:PNC) since 1992 and services more than 15 million total accounts on file for PNC.. (Pittsburgh Business Times, PA)
Fed says US economy is leveling out Aug 13, 2009
"They see the worst with the economy is behind but they don't want to jump the gun and pull back quickly," said Craig Thomas, a senior economist at PNC Financial Services in Pittsburgh. The Fed cautioned that the economy remains fragile as employers continue to cut jobs and binesses trim investment. (India Times)
NexTier Bank uses direct mail, social media Aug 10, 2009
NexTier Bank makes use of new direct mail program, social media - Pittsburgh Business Times. for free extra services. (Pittsburgh Business Times, PA)
Dynus scandal cost Fifth Third $4.3M Aug 8, 2009
(National City has since been acquired by PNC Financial Services Group. . (Cincinnati Business Courier, OH)
Wall Street closes lower on Wednesday Aug 6, 2009
Among a cross-section of companies operating in Pittsburgh, PNC Financial Services Group Inc. saw the biggest percentage change. PNC (NYSE:PNC), Pittsburgh s largest bank, rose 6. (Pittsburgh Business Times, PA)
Treasury: NatCity slow to modify mortgages Aug 6, 2009
It doesn t reflect our efforts, said Fred Solomon, spokesman for PNC Financial Services Group Inc., Pittsburgh, which acquired National City last December. Solomon said National City became a participant in Making Home Affordable in mid-June, as the government fine-tuned details of the program. (Pittsburgh Business Times, PA)
Daybreak - federal homeowner bailout Program helps few borrowers Aug 6, 2009
American Home Mortgage Servicing and PNC Financial Services Group Inc. were among the companies that had a zero next to their names on Tuesday's report. David M. Friedman, president and CEO of American Home Mortgage Servicing, explained that his company started the program on July 22, and expects to help 60,000, or about 40 percent of its borrowers. (Casa Grande Valley Newspapers, AZ)
* US consumer spending rose in June Aug 6, 2009
Were going to see fairly soft economic numbers for some time, said Robert Dye, a senior economist at PNC Financial Services Group in Pittsburgh. GDP REVISION. (Taipei Times, Taiwan -- World)
A 'living wall' coming to PNC Plaza Aug 5, 2009
The goal is to have it in place by Sept. 14, said Susan Golomb, vice president of realty services for PNC Financial Services Group. PNC asked BD&E, a Downtown branding and marketing firm, to produce "a concept that would make it clear this was our headquarters and part of a larger campus," said Ms. Golomb. (Pittsburgh Post-Gazette, PA)
Just 9% of eligible homeowners have had mortgage modified Aug 5, 2009
Several smaller companies including American Home Mortgage Servicing and PNC Financial Services Group have yet to modify a single loan, according to the report. American Home Mortgage Servicing just started the program on July 22, a spokesman said. (USA Today -- Money)
Mortgage modifications moving at snails pace Aug 5, 2009
American Home Mortgage Servicing and PNC Financial Services Group Inc. were among the companies that had a zero next to their names on Tuesday's report. In a statement, American Home Mortgage Servicing explained that it did not join the program until July 22 but had modified nearly 37,000 loans in the first six months of 2009. (MSNBC -- Business)
Obama's Mortgage Program Helping Few Borrowers Aug 5, 2009
American Home Mortgage Servicing and PNC Financial Services Group Inc. were among the companies that had a zero next to their names on Tuesday's report. David M. Friedman, the president and CEO of American Home Mortgage Servicing, explained that his company started the program on July 22, and expects to help 60,000, or about 40 percent of its borrowers. (Newsmax)
First Niagara ATMs for some western Pa. Sheetz stores Aug 4, 2009
It is part of First Niagara s (Nasdaq:FNFG) entry into the region in early September when its acquisition of 57 former National City branches from PNC Financial Services Group Inc., Pittsburgh, closes ... It is part of First Niagara s (Nasdaq:FNFG) entry into the region in early September when its acquisition of 57 former National City branches from PNC Financial Services Group Inc., Pittsburgh, closes. (Pittsburgh Business Times, PA)
Settlement Approved in National City Investor Suit Aug 2, 2009
Investors claimed that National City breached its duties to shareholders by proposing to sell the Cleveland bank to PNC Financial Services Group Inc. at a reduced price of $5. 2 billion. (ABC News -- Wire)
Regulators shut down banks in five states Aug 1, 2009
"Clients will recognize familiar banking center associates from Peoples who will continue to take care of Shore Community Bank Announces Second Quarter Earnings Shore Community Bank (OTC Bulletin Board: SHRC) (the "Bank") today reported a net loss of $51,244 or $0.03 per basic and diluted share for the quarter ended June 30, 2009, compared to a net loss of $215,113, or $0.13 per basic and diluted share for the quarter ended June 30, 2008. For the six months ended June 30, 2009, the Bank reported... (Fresno Bee -- Business)
