Demchak: ‘We’re a Pretty Basic Bank’

We have the experience, expertise and innovative products to match up against our Wall Street competitors, but we don’t take the same risks.

By William Demchak, PNC Chairman, President and Chief Executive Officer

PNC is a Main Street bank, not a Wall Street bank. That distinction is not a declaration of our capabilities or a comment on the sophistication of our people. Instead, it is a statement about the philosophy that governs how we relate to and serve our customers and communities. Those relationships are at the heart of our business model. By and large, we live and work where our customers live and work.

PNC’s recent accomplishments have been achieved in the current environment in much the same way we established ourselves as one of the strongest-performing financial services companies and grew through the crisis – by focusing our efforts on helping our customers realize their financial goals without expanding our risk exposure and by helping our communities prosper.

Whether our customers are saving for retirement, looking to buy a new home, building a small business or growing a large company, we are there to help. When they thrive, we thrive.

We have the experience, expertise and innovative products to provide our customers with the insight they need to chart their financial future and to match up against our Wall Street competitors. But we don’t take the same risks, and we don’t trade long-term value for short-term opportunity.

That is what Main Street banking means at PNC. At the heart of our corporate culture is the fundamental belief that if we always strive to do right by the people we serve and if we treat our customers well, we will make money and be profitable through time.

It is a simple model, the purity of which is well-suited for the environment in which we are operating.

This commentary includes excerpts from PNC’s 2014 Annual Report.

Read the full 2014 PNC Annual Report »
Read The PNC Corporate Responsibility Report »

The 2014 Annual Report details how PNC plans in 2015 to:

- Execute on its five strategic priorities

- Deliver a superior banking experience for every customer

- Deliver for its communities and employees


Bill Demchak views the term “Main Street” bank as a statement about PNC’s values.

... if we always strive to do right by the people we serve and if we treat our customers well, we will make money and be profitable through time.