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May 14, 2021

FED announces approval of applications by The PNC Financial Services Group, Inc. & PNC Bancorp, Inc.

For release at 5:00 p.m. EDT

The FED 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, & thereby indirectly acquire its subsidiary state member bank, BBVA USA, Birmingham, Alabama, & (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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Last Update:
May 14, 2021