Starting today, all Mercantile bank branches in the metro area will operate under the PNC Bank name, boosting PNCâs number of Washington-area branches from about 60 to 140. On the weekend, PNC closed the newly acquired Mercantile branches to complete the conversion process, an 11-month effort by PNC and former Mercantile employees.
Expanding from the Northeast to the Washington metro market and the overall mid-Atlantic market is a “perfect fit” and a “logical place” for PNC, said Laila Krause, executive vice president for PNC, based in Washington. The area is “extraordinarily interesting,” with high income, education and homeownership levels, Krause added.
While PNC offers a wide variety of products for consumers and businesses, Krause said checking accounts are the key service. “We want to be the primary bank for every customer and business,” she said.
The market is extremely competitive, Krause said, but she hopes services such as reimbursement for non-PNC ATM fees for accounts with certain minimum balances and remote depositing capabilities for businesses will attract new clients.
PNC also will cater to entrepreneurs who areopening businesses for the first time, as well as microbusiness owners, female business owners, nonprofits and faith-based groups with tailored accounts, seminars and educational products, Krause said.
Customers will be able to access all their information this morning, according to Krause. Customers will have new account numbers, and can continue to use existing checks and debit cards for a limited time.
In total, 231 branches are converting in Maryland, Virginia and Washington, including several Mercantile Bank affiliates, such as the Mercantile Potomac Bank in the metro area and Citizens National Bank in Prince Georgeâs County. In Maryland, PNC will increase by 189 branches, from nine to 198. PNC will expand by 33 branches in Virginia for a total of 50 branches, and by two branches to 33 in the District.
