1983
In 1982, Pennsylvania changed its laws to allow statewide banking. Pittsburgh National and Provident National were the first two banks to act on the new legislation, and came together in 1983 in what was at the time the largest bank merger in U.S. history. Taking the shared initials of their holding companies, they created a new entity called PNC Financial Corp.
1986
A series of mergers with local banks followed and, in 1986, PNC took the major step of merging with an out-of-state bank, Citizens Fidelity Corporation of Louisville, Kentucky. Shortly after, PNC acquired The Central Bancorporation of Cincinnati and the Bank of Delaware Corporation, which traces its roots back to 1795.
1990
In 1990, PNC made the strategic decision to move from separate technology platforms, operated by each individual bank, to a single common platform. That allowed the bank to offer customers a common set of products and services, wherever they were located. And we shifted our organizational focus from geography to lines of business.
1991
Another series of acquisitions began in 1991, when PNC purchased First Federal Savings and Loan Association of Pittsburgh. The addition of First Federal made PNC both the largest bank and the largest bank holding company in Pittsburgh. Between 1991 and 1996, PNC acquired nine financial institutions.
1993 and 1995
PNC's growing wealth management business was bolstered by two bank acquisitions in the '90s: The Massachusetts Company, Boston, which was the oldest trust company in the country, dating from 1818, and which counted John Quincy Adams, Daniel Webster and Henry Wadsworth Longfellow among its clients and Indian River Federal Savings Bank of Vero Beach, Fla., which added private banking capabilities to PNC's existing Florida trust business
1993
In 1993, PNC acquired Sears Mortgage Company. PNC added the capabilities of Sears Mortgage to its existing PNC Mortgage operation to create one of the nation's largest mortgage originators and service providers at the time. Due to heavy consolidation in the industry, PNC made a strategic decision to exit the consumer mortgage business in 2000, selling PNC Mortgage to Washington Mutual Home Loans, Inc.
1995
In 1995, PNC achieved its longtime goal of entering New Jersey by merging with Midlantic Corporation in a $3 billion transaction that instantly gave it a major presence in the southern New Jersey/Philadelphia market.
1999
In 1999, PNC's steady transformation into a diversified company with national reach was further strengthened with the acquisition of First Data Investor Services Group (ISG), a leading provider of services to mutual funds and other investment vehicles. The addition of ISG solidified PNC's Global Investment Servicing (formerly known as PFPC Worldwide) entity as a premier provider of processing, technology and business solutions to the global investment industry.