PNC claims that the current name of the business is derived from the letters shared by Pittsburgh National Corporation and Provident National Corporation, two banks that merged in 1983. At the time, the bank merger was the biggest in American history.
A 1982 Pennsylvania statute that permitted statewide banking gave rise to the founding of PNC Financial Corporation, which was the consequence of the merger. Pittsburgh National Corporation, the founding holding company of PNC, was founded in 1852, making it Pittsburgh’s oldest bank.
Pennsylvania Quakers founded Provident National Corporation, also known as the “Quaker bank,” in 1862. PNC adds that throughout the 1990s, it continued to grow and consolidate as it added new companies.