PNC Bank to acquire 27 Atlanta Flagstar branches
Washington Business Journal
Date: Wednesday, July 27, 2011, 10:11am EDT
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The PNC Financial Services Group Inc. is making another push into Atlanta, inking a deal to buy or lease 27 bank branches in metro Atlanta from Flagstar Bancorp Inc. for $42 million.
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PNC Financial Services Group Inc.bizWatch PNC Financial Services Group Inc. Latest from The Business Journals PNC Bank to acquire 27 Atlanta Flagstar branchesPNC Bank acquires 27 Flagstar Atlanta branchesPNC to acquire 27 Atlanta-area Flagstar branches Follow this company is making another push into the South, inking a deal to buy or lease 27 bank branches in the Atlanta area from Flagstar Bancorp IncbizWatch Flagstar Bancorp Inc Latest from The Business Journals PNC Bank to acquire 27 Atlanta Flagstar branchesPNC Bank acquires 27 Flagstar Atlanta branchesPNC to acquire 27 Atlanta-area Flagstar branches Follow this company . for $42 million.
Pittsburgh-based PNC (NYSE: PNC) in June reported plans to buy RBC BankbizWatch RBC Bank Latest from The Business Journals PNC Bank to acquire 27 Atlanta Flagstar branchesPNC buying 27 Flagstar branchesPNC Bank to acquire 27 metro ATL Flagstar branches Follow this company for $3.4 billion. RBC Bank is the seventh-largest bank in metro Atlanta with 52 branches and $2.6 billion in local deposits.
PNC will buy 21 Flagstar (NYSE: FBC) branches and lease six in a seven-county area primarily north of Atlanta. It also will assume some $240 million of deposits from Troy, Mich.-based Flagstar, and the branches will take the PNC BankbizWatch PNC Bank Latest from The Business Journals PNC Bank to acquire 27 Atlanta Flagstar branchesPNC Bank acquires 27 Flagstar Atlanta branchesPNC Bank to acquire 27 metro ATL Flagstar branches Follow this company name.
The transaction is expected to close in December.
PNC, after it closes the RBC and Flagstar deals, would become the seventh-largest bank in metro Atlanta with 79 branches and $2.84 billion in local deposits.
PNC unveiled plans earlier this year to move its local headquarters into 1 E. Pratt St. in downtown Baltimore.
PNC Financial Services Group Inc.bizWatch PNC Financial Services Group Inc. Latest from The Business Journals PNC Bank to acquire 27 Atlanta Flagstar branchesPNC Bank acquires 27 Flagstar Atlanta branchesPNC to acquire 27 Atlanta-area Flagstar branches Follow this company is making another push into the South, inking a deal to buy or lease 27 bank branches in the Atlanta area from Flagstar Bancorp IncbizWatch Flagstar Bancorp Inc Latest from The Business Journals PNC Bank to acquire 27 Atlanta Flagstar branchesPNC Bank acquires 27 Flagstar Atlanta branchesPNC to acquire 27 Atlanta-area Flagstar branches Follow this company . for $42 million.
Pittsburgh-based PNC (NYSE: PNC) in June reported plans to buy RBC BankbizWatch RBC Bank Latest from The Business Journals PNC Bank to acquire 27 Atlanta Flagstar branchesPNC buying 27 Flagstar branchesPNC Bank to acquire 27 metro ATL Flagstar branches Follow this company for $3.4 billion. RBC Bank is the seventh-largest bank in metro Atlanta with 52 branches and $2.6 billion in local deposits.
PNC will buy 21 Flagstar (NYSE: FBC) branches and lease six in a seven-county area primarily north of Atlanta. It also will assume some $240 million of deposits from Troy, Mich.-based Flagstar, and the branches will take the PNC BankbizWatch PNC Bank Latest from The Business Journals PNC Bank to acquire 27 Atlanta Flagstar branchesPNC Bank acquires 27 Flagstar Atlanta branchesPNC Bank to acquire 27 metro ATL Flagstar branches Follow this company name.
The transaction is expected to close in December.
PNC, after it closes the RBC and Flagstar deals, would become the seventh-largest bank in metro Atlanta with 79 branches and $2.84 billion in local deposits.
PNC unveiled plans earlier this year to move its local headquarters into 1 E. Pratt St. in downtown Baltimore.
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