The same day that Pittsburgh-based PNC Financial Services Group said it would buy Mercantile Bankshares Corp. for $6 billion in stock and cash, it was announced that PNC would give $25 million to a Baltimore charity.
Mercantile Bankshares spokesman Janice Davis said PNC is making the $25 million donation to the Mercantile Fund at the Baltimore Community Foundation.
“PNC strongly supports the local community and has a long history of being good corporate citizens,” Davis said. “They donate over $25 million to charities in communities throughout their network.”
But Ed Hale, president and chief executive officer of 1st Mariner Bank in Baltimore, criticized Mercantile?s sale, saying it would hurtlocal charities.
“They will do less for charities and their employees will be less engaged,” Hale said.
