PNC Financial Services explained

The PNC Financial Services Group, Inc.
Type:Public
Foundation:
Operational:
Location City:Tower at PNC Plaza,
Pittsburgh, Pennsylvania
Location Country:U.S.
Locations:2,629 branches 60,000 automated teller machines (2021)
Area Served:Worldwide
Key People:William S. Demchak (chairman and CEO)
Michael P. Lyons (president)
Products:Consumer banking, Corporate banking, Private banking, Financial analysis, Insurance, Investment banking, Mortgage loans, Private equity, Wealth management, Credit cards
Revenue: 21.1 billion
Revenue Year:2022
Operating Income: US$7.9 billion (2022)
Net Income: 6.1 billion (2022)
Assets: (2022)
Aum: 325 billion (2021)
Equity: 55.726 billion (2021)
Num Employees:59,426 (2021)
Subsid:PNC Bank
Ratio:10.3% Tier 1 capital (2021)
Footnotes:[1]

The PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 27 states and the District of Columbia, with 2,629 branches and 9,523 ATMs. PNC Bank is on the list of largest banks in the United States by assets and is one of the largest banks by number of branches, deposits, and number of ATMs.

The company also provides financial services such as asset management, wealth management, estate planning, loan servicing, and information processing. PNC is one of the largest Small Business Administration lenders and one of the largest credit card issuers. It also provides assetbased lending to private equity firms and middle market companies. PNC operates one of the largest treasury management businesses and the second largest lead arranger of assetbased loan syndications in the United States. Harris Williams & Co., a subsidiary of the company, is one of the country's largest mergers and acquisitions advisory firms for middle-market companies. Midland Loan Services, a division of PNC Real Estate based in Overland Park, Kansas and founded in 1991, is ranked by Mortgage Bankers Association as the second largest master and primary servicer of commercial bank and savings institution loans.[2] [1] [3] [4]

The name "PNC" is derived from the initials of both of the bank's two predecessor companies: Pittsburgh National Corporation and Provident National Corporation, which merged in 1983. PNC Mortgage (formerly National City Mortgage) is credited with funding the first mortgage in the United States and has offices across the country.

History

PNC Financial Services traces its history to the Pittsburgh Trust and Savings Company which was founded in Pittsburgh, Pennsylvania, on April 10, 1845.[5] [6] Due to the long recovery from the Great Fire of Pittsburgh, Pittsburgh Trust and Savings was not fully operational until January 28, 1852.[7] It originally opened offices at Liberty Avenue and 12th Street. The bank was renamed The Pittsburgh Trust Company in 1853.[8] In 1858, the company located its corporate offices to the corner of Fifth Avenue and Wood Street in Pittsburgh, where they remain to this day. The bank changed its name to First National Bank of Pittsburgh in 1863 after it became the first bank in the country to apply for a national charter as part of that year's National Banking Act.[5] It received the 48th charter on August 5, 1863, with other later banks receiving charters sooner due to paperwork problems and the fact that the bank was already in business.[5]

In 1946, First National merged with Peoples-Pittsburgh Trust Company  - with whom it had worked closely since the 1930s  - to form Peoples First National Bank & Trust. In 1959, Peoples First merged with Fidelity Trust Company to form Pittsburgh National Bank. At this time, the bank adopted the first version of its present logoa stylized triangle representing the city's Golden Triangle.[9] [10] In 1969, the bank reorganized as a holding company, Pittsburgh National Corporation.

Another branch of the current bank, the Philadelphiabased Provident National Corporation, dates back to 1865.[11]

In 1982, Pittsburgh National Corporation and Provident National Corporation, both with PNC as their abbreviations, merged into a new entity named PNC Financial Corporation. It was the largest bank merger in American history at the time and created a company with $10.3 billion in assets.[12] [13] Between 1991 and 1996, PNC purchased more than ten smaller banks and financial institutions, including the $30 billion dollar merger of Midlantic Bank of Edison New Jersey in 1996, that at the time, was one-third the size of PNC. That broadened its market base from Kentucky to the New York metropolitan area.

($ millions)
2017201820192020202120222023
Total Revenue$ 15,252$ 16,190$ 16,839$ 16,901$ 19,211$ 21,120$21,490
Net Income$ 4,598$ 4,558$ 4,591$ 3,003$ 5,725$ 6,113$5,647
Assets$ 380,768$ 382,315$ 410,295$ 466,679$ 557,191 $ 557,263$561,580
Loans$ 220,458$ 226,245$ 239,843$ 241,928$ 288,372 $ 326,025$321,508
Deposits$ 265,053$ 267,839$ 288,540$ 365,345$ 457,278 $ 436,282$421,418

Since 1984, PNC has compiled the Christmas Price Index, a humorous economic indicator which estimates the prices of the items found in the song "The Twelve Days of Christmas".[14]

In 1998, PNC acquired Hilliard Lyons for $275 million in cash and stock.[15] Hilliard Lyons was sold in 2008.[16]

In 1998, PNC sold its credit card business to Metris (now HSBC Finance)[17] and MBNA.[18]

In 2000, the company adopted a new brand image and changed its name to PNC Financial Services Group.[19]

In 2001, PNC sold the original PNC Mortgage to Washington Mutual due to volatility in the market.[20]

In 2004, PNC acquired United National Bancorp based in Bridgewater, New Jersey, for $321 million in cash and 6.6 million shares of its common stock.[21]

In 2005, PNC acquired Riggs National Corporation of Washington, D. C. Riggs had been fined after aiding Chilean dictator Augusto Pinochet in money laundering.[22] [23] PNC became one of the largest banks in the Washington metropolitan area.

In 2005, PNC began outsourcing mortgages to Wells Fargo.[24]

In August 2006, PNC got back into the credit card business by marketing and issuing credit cards under the MasterCard brand in partnership with U.S. Bancorp (U.S. Bank) .[25] After the National City merger (see below) in 2008, the U.S. Bancorp (U.S. Bank) products were converted to PNC Bank products.

On March 2, 2007, PNC acquired Maryland-based Mercantile Bankshares, making PNC the eighth largest bank in the United States by deposits.[23] [26] [27]

On October 26, 2007, PNC acquired Yardville National Bancorp, a small commercial bank centered in central New Jersey and eastern Pennsylvania.[23] [28]

On September 15, 2007, PNC Bank acquired Citizens National Bank of Laurel, Maryland.[29]

On April 4, 2008, PNC acquired Sterling Financial Corporation, a commercial and consumer bank with accounts and branches in central Pennsylvania, northeastern Maryland and Delaware.[23] [30]

On October 24, 2008, during the 2007–2008 financial crisis, the National City acquisition by PNC for $5.2 billion in stock was completed.[31] The acquisition was financed with preferred stock sold to the United States Treasury as part of the Troubled Asset Relief Program implemented as part of the Emergency Economic Stabilization Act of 2008.[32] The stock issued to the U.S. Treasury was repurchased in 2010.[33] PNC then became the 5th largest bank in the United States by deposit and fourth largest by branches.[34] [35]

On August 14, 2009, PNC took over Dwelling House Savings & Loan and its only branch location in Pittsburgh's Hill District after Dwelling House failed and was placed in receivership by the Federal Deposit Insurance Corporation (FDIC).[36] Dwelling House had been known in Pittsburgh to provide loans to lowincome African Americans that other banks would deny. The branch was closed and accounts were transferred to the existing PNC branch in the Hill District.[37]

In July 2010, PNC sold its Global Investment Servicing (GIS) subsidiary to The Bank of New York Mellon to repay funds from the Troubled Asset Relief Program, which had been used for the National City acquisition (see above) in 2008.[38] GIS, established in 1973 and with 4,700 employees, was the secondlargest fullservice mutual fund transfer agent in the U.S and the secondlargest fullservice accounting and administration provider to U.S. mutual funds. GIS serviced $1.9 trillion in total assets and 58 million shareholder accounts. It was known as PFPC until July 2008.[39]

In January 2011, PNC acquired BankAtlantic's Tampa Bay Area branches.[40] [41]

In December 2011, PNC acquired 27 branches in the northern Atlanta suburbs with $240 million in deposits and $42 million in book value from Flagstar Bank.[42] [43] [44]

In 2012, PNC acquired RBC Bank from Royal Bank of Canada for $3.45 billion.[45] [46] [47] RBC Bank had a 426 branches in southern Virginia, North Carolina, South Carolina, Georgia, Alabama, and Florida. Prior to the acquisition, PNC had slipped (due to mergers and growth in other firms) from its ranking following the 2008 National acquisition; this 2012 acquisition made PNC the fifth largest bank by branches behind Wells Fargo, Bank of America, Chase, and U.S. Bank and the sixth largest by total assets behind the aforementioned four banks and Citibank.[45]

On July 30, 2012, PNC announced plans to put ATMs in 138 Harris Teeter grocery stores in the Carolinas, plus 53 other stores.[48] [49]

In September 2014, PNC acquired Solebury Capital Group, a capital markets advisory firm, for $50 million.[50]

On October 2, 2015, the bank opened Tower at PNC Plaza, its new headquarters on the corner of Fifth Avenue and Wood Street in downtown Pittsburgh.[51] It was first announced in 2011.[52] The LEED Platinum building, owned by PNC and designed by Gensler, won awards for its environmentally friendly features.[53]

In April 2017, the company acquired the U.S. equipment finance business of ECN Capital for $1.3 billion.[54] [55]

In November 2017, the company acquired The Trout Group, an investor relations and strategic advisory firm servicing the healthcare industry.[56] [57]

In 2018, the company acquired Fortis Advisors, which provides postmerger shareholder services.[58] [59] The company ranked one hundred sixty fifth on the 2018 Fortune 500 list of the largest United States corporations by revenue.[60]

In 2018, PNC began opening "Solution Centers", a hybrid between traditional bank branches and ATMonly services, mostly serving new markets. Through this method, PNC expanded its retail footprint into Boston, Denver, Kansas City, Nashville, and several markets in Texas including Austin, Dallas, Houston, and San Antonio. Two of PNC's "Big Four" competitors, Bank of America and Chase Bank, have both also been expanding into new markets through this method, including into PNC's home market of Pittsburgh.

In August 2019, PNC launched a Fintech incubator subsidiary called "numo" that functions as an internal startup. Its first development included indi, an instant payment and mobile banking company for gig workers.[61]

In May 2020, the company sold its stake in BlackRock.[62]

On June 1, 2021, PNC acquired BBVA USA for $11.6 billion in cash.[63] The acquisition significantly boosted its presence in Colorado and Texas, complemented its presence in Alabama and Florida, and introduced the bank to the Arizona, California, and New Mexico markets.[64]

In 2021, PNC originated nearly 95,000 mortgages worth $34.8 billion.[65] This is a 23% increase vs prior year and stands as their highest origination volume to date.

Legal issues

Overcharging of Black and Hispanic borrowers by National City

In December 2013, the Department of Justice and the Consumer Financial Protection Bureau announced that they had reached an agreement with National City Bank to resolve allegations that the bank had charged Black and Hispanic borrowers higher prices for mortgages between 2002 and 2008, before the acquisition by PNC. Regulators claimed that National City had violated the Fair Housing Act and Equal Credit Opportunity Act by charging more than 75,000 borrowers higher loan rates based on their race or ethnicity rather than their risk level. National City's lack of pricing guidelines resulted in black borrowers being charged an average of $159 more in extra upfront fees or higher interest than white borrowers. Black borrowers also paid an average of $228 more annually over the life of the loan than white borrowers. Hispanics paid $125 more upfront and $154 more annually than white borrowers. Under the terms of the settlement, PNC was required to pay victims $35 million.[66]

Retailer breach forced PNC to reissue customer cards

In March 2006, PNC and other large banks were forced to reissue hundreds of debit cards to customers after card numbers were disclosed by a breach at an unspecified retailer.[67]

Lawsuit from Military Channel

Also in March 2006, PNC Bank was sued by Paul Bariteau, an investor in the Military Channel. Bariteau claimed PNC let the chairman of the Military Channel make unauthorized withdrawals of millions of dollars from the company's account for personal use.[68]

Securities fraud settlement

In June 2003, PNC Bank agreed to pay $115 million to settle federal securities fraud charges after one of its subsidiaries fraudulently transferred $762 million in bad loans and other venture capital investments to an AIG entity in order to conceal them from investors.[69]

Overtime claim by loan officers

In 2017, PNC agreed to pay $16 million to settle claims of overtime wages by loan officers under the Fair Labor Standards Act.[70]

National Prearranged Services fraud

According to a lawsuit, funds entrusted to National Prearranged Services (NPS), a St. Louisbased company that sold prepaid funerals, were diverted and embezzled. PNC Bank is the successor to Allegiant Bank, which served as a trustee for NPS from 1998 to 2004. In 2015, a jury ordered PNC to pay $391 million.[71] In 2017, a federal judge overturned the decision.[72]

Municipal bonds disclosure violations

In 2015, PNC was one of 22 companies that violated disclosure requirements for municipal bonds by failing to divulge that the issuers had filed late financial reports. It was fined $500,000.[73]

Controversies

Funding of mountaintop removal mining

Beginning in 2010, until it changed its policy in February 2015, PNC was the subject of protests by the Earth Quaker Action Team, led by George Lakey, and the Rainforest Action Network due to its funding of companies engaged in mountaintop removal mining in Appalachia. The protests included political demonstrations at branches and offices and the annual general meeting, fasting, and boycotts.[74] [75]

Cancelling MxM News Financial Accounts

On Mar 2, 2023, Donald Trump Jr., cofounder of news aggregator MxM News, tweeted that PNC had abruptly cancelled all financial services for MxM without explanation.[76] Trump and cofounder Taylor Budowich alleged that PNC disapproved of Trump’s political leanings since no reason was given for the closure. PNC claimed it was a “good faith error” and reopened the account.[77]

Notable corporate buildings

Naming rights and sponsorships

PNC owns corporate naming rights to the following:

PNC is a sponsor of the following:

Chief executives

See also

Notes and References

  1. Web site: The PNC Financial Services Group, Inc. 2020 Annual Report (Form 10-K) . U.S. Securities and Exchange Commission.
  2. MBA Releases 2017 Year-End Commercial/Multifamily Servicer Rankings . February 11, 2018 . . March 25, 2018 . April 7, 2022 . https://web.archive.org/web/20220407005342/https://www.mba.org/2018-press-releases/february/mba-releases-2017-year-end-commercial/multifamily-servicer-rankings . dead .
  3. Web site: Corporate Profile . PNC Bank.
  4. Web site: PNC Solution Centers Provide a Space to Blend Physical and Digital Banking . PNC Bank.
  5. Book: Thurston, George Henry . Allegheny County's Hundred Years . January 1, 1888 . A. A. Anderson & Son . 12 April 2017 . Internet Archive.
  6. Book: Thurston, George H. . Allegheny county's hundred years . University of Pittsburgh, Digital Research Library . 1888 . Pittsburgh . 258.
  7. News: January 29, 1909 . An Important Anniversary . . Google.
  8. Book: White, Edward . A century of banking in Pittsburgh . University of Pittsburgh, Digital Research Library . 1903 . Pittsburgh . 19.
  9. Web site: Corporate History . March 23, 2022 . PNC.
  10. News: Sabatini . Patricia . August 10, 1999 . Obituaries: Ex-bank executive and hospital trustee . C6 . . Google.
  11. Web site: PNC Predecessor Banks: Provident National Corporation . dead . https://web.archive.org/web/20190216175559/https://www.pnclegacyproject.com/provident.html . 2019-02-16 . 2017-04-13.
  12. News: November 3, 1982 . Banking Mergers Flourish . . subscription.
  13. News: April 19, 1982 . The merger of two bank holding companies was announced . .
  14. Web site: PNC Christmas Price Index .
  15. News: Murray . Matt . August 21, 1998 . PNC Bank to Buy Hilliard-Lyons For $275 Million in Cash and Stock . . subscription.
  16. News: April 1, 2008 . PNC's sale of Hilliard Lyons completed . .
  17. News: September 9, 1998 . COMPANY NEWS; Metris To Buy $1 Billion In Credit Card Loans From PNC . The New York Times . . subscription.
  18. News: December 24, 1998 . COMPANY NEWS; MBNA Ix Buying PNC Bank's Credit Card Operations . . . subscription.
  19. News: July 16, 2002 . Battle of the banks: Key dates in PNC and Dollar's history . .
  20. News: February 1, 2001 . PNC sells mortgage division . Pittsburgh Business Times .
  21. News: January 2, 2004 . PNC buys United National Bancorp . Pittsburgh Business Times .
  22. News: O'Hara . Terence . February 11, 2005 . Riggs, PNC Reach New Merger Agreement . .
  23. Web site: PNC: Acquired Companies . dead . https://web.archive.org/web/20170310060326/http://phx.corporate-ir.net/phoenix.zhtml?c=107246&p=irol-acquired . 2017-03-10 . 2017-04-13.
  24. News: Killian . Erin . September 15, 2005 . Wells Fargo, PNC partner in local home-mortgage venture . .
  25. News: Sabatini . Patricia . August 29, 2006 . PNC tries new credit cards, old strategy . Pittsburgh Post-Gazette .
  26. News: Fitzpatrick . Dan . October 10, 2006 . PNC buying Maryland bank in $6 billion deal . Pittsburgh Post-Gazette .
  27. The PNC Financial Services Group Completes Acquisition of Mercantile Bankshares Corporation . March 2, 2007 . PNC Financial .
  28. PNC Completes Acquisition Of Yardville National Bancorp . October 26, 2007 . PNC Financial .
  29. Web site: Institution History for Laurel Main Street Branch (229427) . Federal Financial Institutions Examination Council.
  30. PNC Completes Acquisition of Sterling Financial Corporation . April 4, 2008 . PNC Financial .
  31. News: Dash . Eric . October 24, 2008 . PNC Gets National City in Latest Bank Acquisition . . subscription.
  32. News: Fitzpatrick . Dan . Enrich . David . Paletta . Damian . October 25, 2008 . PNC Buys National City in Bank Shakeout . The Wall Street Journal . subscription.
  33. News: February 2, 2010 . PNC to Repay TARP Money After Sale of Unit . .
  34. PNC to Acquire National City . October 24, 2008 . PNC Financial . PR Newswire.
  35. News: Gordon . Paul . June 22, 2010 . National City conversion to PNC is complete . . Peoria, Ill .
  36. News: Boselovic . Len . August 14, 2009 . PNC to take over troubled Dwelling House . Pittsburgh Post-Gazette .
  37. News: Grant . Tim . August 18, 2009 . Dwelling House accounts moved to PNC . Pittsburgh Post-Gazette .
  38. BNY Mellon Completes Acquisition of PNC's Global Investment Servicing Business . July 1, 2010 . PNC Financial . PR Newswire.
  39. PFPC Becomes PNC Global Investment Servicing . July 14, 2008 . PNC Financial . Business Wire.
  40. News: Harrington . Jeff . January 31, 2011 . PNC enters Tampa Bay market, buying 19 BankAtlantic branches . . April 6, 2017 . April 7, 2017 . https://web.archive.org/web/20170407054318/http://www.tampabay.com/news/business/banking/pnc-enters-tampa-bay-market-buying-19-bankatlantic-branches/1148697 . dead .
  41. News: Sharma . Abhinav . January 31, 2011 . BankAtlantic to sell 19 branches to PNC Bank . .
  42. News: Peters . Andy . July 26, 2011 . PNC Completes Deal for Flagstar's Atlanta Branches . .
  43. News: July 26, 2011 . PNC Bank to acquire 27 metro ATL Flagstar branches . .
  44. PNC Announces Agreement to Acquire 27 Branches from Flagstar . July 26, 2011 . PNC Financial . PR Newswire.
  45. News: Delano . Jon . June 20, 2011 . PNC To Acquire RBC's United States Unit . .
  46. News: June 19, 2011 . PNC to Buy R.B.C. Unit for $3.5 Billion . The New York Times . subscription.
  47. News: Bansal . Paritosh . June 19, 2011 . PNC to buy RBC unit for $3.45 billion . Reuters .
  48. PNC Bank Expands ATM Access to 191 Harris Teeter stores . July 30, 2012 . PNC Financial . PR Newswire.
  49. News: July 30, 2012 . PNC Bank adds ATMs in 191 Harris Teeter stores . Washington Business Journal .
  50. News: Tascarell . Patty . September 30, 2014 . PNC buying IPO consulting firm . Pittsburgh Business Times .
  51. News: Belko . Mark . October 1, 2015 . PNC shows off tower, its crown jewel . Pittsburgh Post-Gazette .
  52. PNC Announces Plans For World's Greenest Skyscraper . May 23, 2011 . PNC Financial .
  53. News: Berg . Nate . July 15, 2016 . Award: The Tower at PNC Plaza . .
  54. ECN Capital Completes Sale of US Equipment Finance Business to PNC . April 3, 2017 . .
  55. News: Fleisher . Chris . September 29, 2014 . With acquisition, PNC set to enter IPO market . .
  56. PNC Bank Announces Definitive Agreement to Acquire The Trout Group, LLC . November 27, 2017 . PNC Financial . PR Newswire.
  57. News: Tascarella . Patty . November 27, 2017 . Why PNC reeled in Trout . Pittsburgh Business Times .
  58. PNC Bank Announces Definitive Agreement To Acquire Fortis Advisors . December 20, 2017 . PNC Financial . PR Newswire.
  59. News: Tascarella . Patty . December 20, 2017 . PNC buying Fortis Advisors . Pittsburgh Business Times .
  60. Fortune 500 Companies 2018: Who Made the List . . en-US . 2018-11-21 . 2019-05-02 . https://web.archive.org/web/20190502115903/http://fortune.com/fortune500/list/ . dead .
  61. Groenfeldt . Tom . August 29, 2019 . PNC Launches A Fintech Startup Inside The Bank . . en . 2021-12-10.
  62. News: Sabatini . Patricia . May 15, 2020 . PNC sells Blackrock stake for $14.4 billion . Pittsburgh Post-Gazette .
  63. News: November 16, 2020 . PNC to buy BBVA's U.S. banking arm for $11.6 billion in cash . Reuters .
  64. Web site: Cocheo . Steve . November 18, 2020 . PNC to Vault to #5 Ahead of U.S. Bank in BBVA Deal Embracing Branches . The Financial Brand.
  65. Web site: PNC Bank Mortgages . October 23, 2022.
  66. CFPB and DOJ Take Action Against National City Bank for Discriminatory Mortgage Pricing . December 23, 2013 . .
  67. News: Kantor . Andrew . March 16, 2006 . USA Today Cyberspeak . .
  68. Web site: October 30, 2006 . BARITEAU V. PNC FINANCIAL SERVICES GROUP, INC. (W.D.KY. 10-30-2006) . casetext.
  69. News: November 24, 2004 . AIG Agrees to Settle Fraud Cases . . .
  70. News: Lee . Suevon . January 5, 2017 . APNC To Pay $16M To Settle Loan Officers' Wage Claims . .
  71. News: Kurane . Supriya . March 10, 2015 . U.S. jury orders PNC Bank to pay $391 million in funeral scam case . Reuters .
  72. News: Patrick . Robert . August 17, 2017 . Federal appeals court overturns $491 million jury award in prepaid funeral company fraud . .
  73. SEC Sanctions 22 Underwriting Firms for Fraudulent Municipal Bond Offerings . September 30, 2015 . Securities and Exchange Commission .
  74. News: May 7, 2012 . Quaker group, walking from Philadelphia to Pittsburgh, protests in front of PNC Bank . .
  75. News: Sorkin . Andrew Ross . March 10, 2015 . A New Tack in the War on Mining Mountains . . Andrew Ross Sorkin.
  76. News: March 2, 2023 . Donald Trump Jr Twitter account .
  77. News: March 3, 2023 . PNC Bank reopens Donald Trump Jr's MxM News app account, blames 'good faith error' .
  78. News: Bernstein . Rachel . August 21, 2011 . PNC Gets Naming Rights for Mount St Mary's Sports Complex . . .
  79. Stars, American Airlines Center, PNC Bank announce multi-year partnership . December 1, 2020 . National Hockey League .
  80. News: Marcinek . Laura . February 15, 2013 . PNC Names Demchak to Succeed Rohr as Bank's CEO . .
  81. News: Lansner . Jonathan . March 22, 1985 . Pittsburgh National Bank gets new management team . . Google.
  82. News: June 11, 1988 . O'Brien Named Chairman . Pittsburgh Post-Gazette . Google.
  83. News: Sabatini . Patricia . February 18, 2000 . O'Brien retiring, Rohr to lead PNC . Pittsburgh Post Gazette . March 23, 2022 . August 8, 2022 . https://web.archive.org/web/20220808220640/http://old.post-gazette.com/businessnews/20000218pnc1.asp . dead .
  84. News: December 22, 1989 . Pittsburgh National Chairman Announces Retirement . . March 23, 2022 . Google.
  85. News: November 9, 1968 . Annual Dinner Schedule for Industrial Realtors . 13 . Leader-Times . Kittanning, Pennsylvania . March 23, 2022 . newspapers.com.
  86. News: December 11, 1998 . Merle E. Gilliand, 76, Chairman Who Led Growth of PNC Bank . The New York Times . subscription . Google.