September 10, 1994 |
Six executives of PNC Bank Corp. were among the passengers who died in the crash of USAir Flight 427. Among them was Frank A. Santamaria, 37, who only recently returned to PNC headquarters in Pittsburgh after a 2 1/2 year assignment in Philadelphia. "We have lost six valued colleagues," Thomas H. O'Brien, chairman and chief executive officer of PNC, said in a statement issued yesterday. "Throughout our company, we are all grieving at the tragic loss. Our hearts are with their families and the families of all the passengers and crew," O'Brien said.
January 7, 1992 |
PNC Financial Corp. is shifting executives in a move likely to increase the centralization of the huge bank holding company in Pittsburgh and cut the autonomy of its subsidiary banks. PNC, parent of Provident National Bank in Philadelphia, Pittsburgh National Bank and other banks in 15 states, announced that Pittsburgh National chairman James E. Rohr had been named president of the parent company. That makes him second in command, after PNC's chief executive officer, Thomas H. O'Brien.
March 5, 2008 |
PNC Financial Serviced Group Inc. named Stephen M. Wynne chief executive of its Wilmington-based subsidiary PFPC, which provides transaction processing and other services to the global investment industry. Wynne is succeeding Timothy G. Shack, who will remain chairman of PFPC and chief information officer of PNC, Pittsburgh. Wynne has been at PFPC for 31 years, the company said. PFPC earned $128 million last year on revenue of $831 million, according to PNC financial statements.
July 18, 1989 |
PNC Financial Corp., the Pittsburgh company that owns Provident National Bank in Philadelphia, attributed higher profits for the latest quarter and six months to a strong basic banking business and "tight expense management. " "We continue to realize greater efficiencies throughout our banking network," said chairman Thomas H. O'Brien. He noted that the profit gains for the second quarter were achieved even though PNC had one-time gains in the second quarter of 1988 from sales of securities.
February 8, 1991 |
As it had predicted, PNC Financial Corp. yesterday reported a $168 million loss for the fourth quarter, wiping out nearly half of what the company earned in all of 1989. The Pittsburgh-based parent of Provident National Bank attributed the loss to the need to set aside a massive amount for problem loans. PNC put $430 million into its reserve for loan losses in the quarter after a regular examination of its loan portfolio by federal regulators. Thomas H. O'Brien, chairman, said the weakening economy hurt PNC and the banking industry in 1990.
September 23, 1988 |
By adding a 10th banking company to its impressive list of holdings, PNC Financial yesterday reasserted its dominance over banking throughout a big chunk of the nation's midsection. "Talk about muscle," said Anthony Davis, banking analyst at Wheat First Securities in Richmond, Va. "What they've got is clout. " PNC, which was created just five years ago from the merger of Philadelphia's Provident National and Pittsburgh National banks, is buying the second-biggest banking company in Delaware, the Bank of Delaware Corp.
April 21, 1988 |
PNC Financial Corp., the Pittsburgh- based parent of Provident National Bank, reported yesterday that growth and improved profit margins on its basic lending business led to higher net income in the first quarter. Also boosting profits, PNC reported, was higher income from fees on bank services such as charges on trust accounts. PNC's acquisition of Central Bancorp of Cincinnati, which was completed in the first quarter, substantially increased the company's assets, making it the largest banking company based in Pennsylvania.
March 9, 1987 |
Just as the Dow Jones industrial average was roaring to another record high Wednesday afternoon, Malcolm "Skip" Wilson, chief investment officer of Provident National Bank, was convening a decidedly bearish meeting of the PNC Financial Corp.'s investment policy committee. Gathered around the desk in his 11th-floor office in a building at 17th and Chestnut Streets were Robert Christian, director of economic research, and Lucinda S. Mezey, director of equity research. Voting members other than Wilson also attended via conference calls to their PNC-affiliated banks in Pittsburgh, Erie, Pa., and Louisville, Ky. Each month the committee reviews the research generated by the bank's analysts and sets out the strategy that PNC portfolio managers will follow in deploying roughly $40 billion in assets - with about half in money-market mutual funds and half in actively managed accounts that are balanced between stocks, bonds and cash.
November 9, 1999 |
First Union, Mellon, Chase, PNC - what's the difference, really? In town last week to rally his troops, PNC chairman Thomas O'Brien sketched the banking hierarchy like this: There are "the worldwide global conglomerates," such as Citigroup, Deutsche, HSBC, Chase. "Then there are major national players. Really, there's only one - Bank America. First Union and Bank One set out to do that. But they stubbed their toes on the execution" with ill-fated mergers, O'Brien said.
June 10, 1988 |
Roger S. Hillas, whose 37-year career at Provident National Bank took him from bookkeeping clerk to chairman of the bank's parent company, said yesterday he would leave to become executive of a beleaguered competitor, Meritor Financial Group. In what experts say is one of the more remarkable personnel shifts in Philadelphia banking, Hillas will replace Frederick S. Hammer as chairman and chief executive officer of Meritor. Meritor, whose principal subsidiary is PSFS, the area's largest bank, is in the midst of a massive restructuring brought on by a dismal financial record, including losses of about $400 million in the last year and a half.