In PNC Bank’s biggest consolidation in 2020, another 19 branches will close, including one in Media,  writes Patty Tascarella and Jeff Blumenthal  for The Philadelphia Business Journal.

According to a Feb. 14 filing with the Office of the Comptroller of the Currency, PNC Financial Services Group  intends to close 1114 W. State St. in Media, one of five branches to close in Pennsylvania.

PNC has filed with the OCC to close a total of 31 branches in 2020. It closed 80 branches last year.

PNC is Philadelphia’s third-largest bank by deposits. It has consolidated 80 to 100 branches annually in the past few years, responding, it says, to customers’ shifting activity to more mobile and online transactions.

PNC had 2,398 branches, 131 in the eight-county Philadelphia metro area, as of June 30, 2019.

PNC said it plans to open 20 branches in new markets this year.

PNC is following a big bank strategy of closing brick-and-mortar branches in areas where they are already well established since those customers are doing business with them on line.

At the same time, they are investing  in technology improvements or opening branches in markets where they don’t have retail locations.

Read more about the PNC Bank branch closings here.

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