PNC Buys Royal Bank’s Retail Branches For $3.45 Billion

Royal Bank of Canada at Woodbine & 16th

Image via Wikipedia

Pittsburgh-based PNC Bank is gobbling up all of Royal Bank of Canada’s U.S.branches – 424 locations in all.  The acquisition will make PNC the fifth largest U.S. bank with 2,870 branches.

RBC USA locations are in Alabama, Florida, Georgia, North Carolina, South Carolina and Virginia.

The acquisition is expected to close in March of 2012.