Business

3 Lexington PNC locations closing in February

Three Lexington PNC bank branches will close in February and be consolidated into nearby National City branches as the company finds efficiencies after purchasing National City last year.

The three PNC branches — at 2515 Harrodsburg Road, 3090 Richmond Road and 4090 Tates Creek Centre Drive — are all close to National City branches. Customers of the branches have been notified that they will close Feb. 19.

At that time, all account records will be automatically transferred to the other location, according to letters sent to customers. Customers won't need to do anything.

There are no plans to consolidate operations downtown, said PNC spokesman Fred Solomon. But National City's main Lexington office, the tower at 301 East Main Street, will have its sign changed to PNC beginning later this month. Eventually, all locations will be rebranded.

Solomon said PNC expects to retain all tellers and branch managers at the PNC locations that will close. "We expect to find positions for them," he said.

Pittsburgh-based PNC acquired National City for $5.6 billion with money it obtained through the government's $700 billion bailout program.

The merger between the companies meant that PNC replaces National City as the largest bank in Kentucky by deposits. As of June 30, the two held 12.1 percent of all deposits in Kentucky, with National City leading the state with 8.53 percent market share and PNC at sixth with 3.57 percent, according to the Federal Deposit Insurance Corp.

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