The way we bank has changed rapidly over the past several decades. For a while, it seemed like fintechs would rise up and traditional banks would become a thing of the past.
Today, you can do all of your banking on your smartphone and don’t even need to talk to a human to open a checking account if you don’t want to.
But while some banks are responding to the increase in digital products and online banks by closing branches, one national bank is doing the opposite.
Bank branches are on the decline except at this bank
Most major banks are closing more branches than they are opening, or are opening just a handful of branches, according to a review of government data.
Major banks’ branch openings vs. closings so far in 2026
- Bank of America has closed 12 branches and opened five, a review of data from the Office of the Comptroller of the Currency shows.
- Wells Fargo hasn’t closed any branches but has only opened two.
- JPMorgan Chase has closed 23 branches and opened 48.
- Citibank closed one branch and opened one.
- US Bancorp hasn’t opened or closed any branches so far in 2026.
- Capital One has closed seven branches. It has not opened any branches.
While the number of bank branches in the U.S. is declining as the industry consolidates, PNC is a bit of an outlier. The only other outlier is bank conglomerate JPMorgan Chase.
The Office of the Comptroller of the Currency site shows that PNC has closed 17 branches (13 of which were consolidations) and opened 10 new branches since January 1. The bank is on track to open 55 new branches by the end of the year, PNC told TheStreet.
Brick-and-mortar is a way to compete with fintechs
As online and neobanks become more prevalent, increasing its branches is a way for PNC to compete and stand apart.
While nearly 95% of customer interactions with PNC are done digitally, customers still value branches, Alex Overstrom, head of retail banking at PNC, told TheStreet.
It also helps PNC sell its products. When the bank has a branch, its sales are six times higher than if it just has a digital presence.
“It just gives you a sense for how much people value that presence and knowing there’s a place you can go, that you’re just not working with some anonymous bot,” Overstrom said.
PNC is rethinking how it approaches its branches.
PNC is expanding in these key regions
PNC is approaching its brick-and-morter stores as a third place, a living room where customers can feel comfortable, he said. PNC bank employees have even walked clients to their cars with umbrellas when it’s raining or changed car tires, he added.
“All of our new branches are built with a really beautiful living room, a coffee bar, snacks,” Overstrom said. “We want to make it a place where people don’t just go to transact, but actually can go and have a good conversation, and don’t feel rushed.”
PNC plans to open 300 new branches by 2030 and completely renovate all of its existing branches, the bank announced in November. This will expand its reach to 20 markets across the U.S.
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Most of the expansion will be in the Southeast and Southwest, including 35 branches in Nashville, 25 branches in Chicago, and 40 locations across Florida and North Carolina.
PNC isn’t getting rid of it tellers but sees the new branches as complementary to its digital offerings, Overstrom said.
“Customers can choose where they want to do business with us… We love it when you come in, but we don’t want to force you to come in. It’s really at the customer’s choice,” he said.