Southern Elevator is celebrating its 70th year in business providing ongoing preventative maintenance and repair of existing elevators and updates to elevator systems and interiors.


Southern Elevator needed to find a new bank after it was notified that its current bank was leaving Greensboro, North Carolina. Prioritizing its needs, the company sought a bank with better tools and technology, a flexible purchasing card program, and resources that could support a mature business.


PNC created a customized offering for Southern Elevator including lockbox and purchasing cards, working capital accounts, and investment options following its meeting with Southern Elevator’s executive team.

“What really stood out to me was the scope of the tools that PNC had and the way they are delivered,” says Rodney Pitts, Owner and Chairman of Southern Elevator. “We wanted to find a bank that had the technology, but as we spoke with the team it was clear to us that working with PNC was going to be a complete relationship and that they had the expertise and knowledge of our industry that could help us with our business.


Southern Elevator moved its entire banking relationship to PNC soon thereafter. The company also expanded the banking services it uses – opting to handle some of its cash management through a new investment-oriented framework.

“With interest rates where they are, PNC’s investment team showed us how we could get improved returns using short-term bonds instead of a money market account,” Pitts explained.

With a service fleet of 80+ technicians on the road across North Carolina, Southern Elevator leverages PNC’s fleet purchasing card program for improved rebates, greater discounts on fuel prices and, most importantly, greater flexibility and controls to manage and monitor expenditures.

“The card program is something new for us, but it’s made things a lot easier, and it includes backup documentation, which our controller really appreciates,” Pitts says.

Southern Elevator’s goal in finding a new banking relationship was to find a bank that could grow with the business. With PNC, the company has done just that. Over the course of its relationship with PNC, Southern Elevator has doubled its revenue.

The shift to PNC has dramatically improved how the business operates from a technology point of view. The tools make operations easier, but they also give us a lot of data. With that, we’re able to pursue new opportunities. We rely on our team at PNC for advice and they’ve really gone out of their way to make it a good relationship.
— Rodney Pitts, Owner and Chairman of Southern Elevator

Using PNC tools, Southern Elevator was able to:

  • Modernize back-office operations improving internal controls and treasury management
  • Set up a comprehensive equipment finance plan
  • Adopt a robust purchasing card program with its vendors and improve its rebate
  • Implement a new investment strategy to help with cash management