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PNC Agrees To Buy Royal Bank Of Canada US Banks

Monday, June 20, 2011 - 4:07 PMRBC Bank (USA) - Details
From PNC's website:
Today we announced that PNC Bank, a member of The PNC Financial Services Group, Inc. (NYSE: PNC), has signed a definitive agreement to acquire RBC Bank (USA), the U.S. subsidiary of Royal Bank of Canada.


The transaction is expected to close in March 2012

Looks like there's going to be competition for the #5 spot between Capital One, US Bank and PNC. From AP via Yahoo:
PNC said that the transaction will bring its total to 2,870 branches and make it the fifth biggest among U.S. banks. RBC Bank (USA), based in Raleigh, N.C., has 424 branches and about $25 billion of assets.

Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
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