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Federal Reserve Board announces approval of applications by The PNC Financial Services Group, Inc. and PNC Bancorp, Inc.

Oliver Scroop

May 15, 2021

The Federal Reserve Board on Friday announced its approval of the applications under section 3 of the Bank Holding Company Act of 1956 by (1) The PNC Financial Services Group, Inc., Pittsburgh, Pennsylvania, to acquire BBVA USA Bancshares, Inc., Houston, Texas, and thereby indirectly acquire its subsidiary state member bank, BBVA USA, Birmingham, Alabama, and (2) PNC Financial’s subsidiary, PNC Bancorp, Inc., Wilmington, Delaware, to acquire BBVA USA.

Attached is the Board’s order relating to this action.

For media inquiries, call 202-452-2955.

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