I recently read an interesting article about the Pittsburgh-based bank, PNC Financial.

According to the article, PNC Financial recently purchased Toronto-based RBC for $3.45 billion.

Continue reading to learn more about this major banking development and what it means for Pittsburgh home buyers.

Investing in Pittsburgh, Pennsylvania Area Real Estate

PNC Financial Services Group’s recent purchase of RBC isn’t expected to close until March 2012, according to the recent article.

PNC’s chairman and CEO told the press that the purchase will allow for the Pittsburgh-based bank to reach more people and grow across a larger geographic area.

Currently, the Pittsburgh-based bank includes a network of about 2,400 branches across 14 states.  As of March 2011, its assets totaled about $259 billion.

PNC is ranked 12th among bank holding companies when it comes to asset size.

The Pittsburgh-based bank has had a great year overall, considering that its profits increased by 13 percent during the second quarter of 2011 as compared to that same period in 2010.

Relocating to Pittsburgh, PA

PNC’s recent purchase of RBC is great news for anyone living in Pittsburgh, PA.

After all, the company’s expansion efforts will likely create new job positions at its headquarters in Pittsburgh.

As more and more jobs are created, more people will want to relocate here – enhancing the overall quality of life for everyone.

If Pittsburgh, PA sounds like the kind of city you would like to call home, then contact me, Jim Dolanch.

As your Pittsburgh, PA real estate expert, I’ll answer any questions you might have, as well as let you know about available listings.

Until next time,

Jim