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

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.

Attachment (PDF)

Statement by Vice Chair for Supervision Quarles

Statement by Governor Brainard

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