Bank Merger: What's in a name?

PNC---with 54 branches in Alabama (three in Montgomery)---is taking over BBVA---with 88 branches in Alabama (three in Montgomery).

BBVA just recently went through the process of changing all of their signs from the former name--Compass---to the new name. No immediate word about branch closings or sign changes.

 

UPDATE: PNC says the BBVA name will become PNC, Meaning that all of the work in Alabama changing signs from "Compass" to BBVA in the last year or so was for naught. 

The sign companies are the big winners. 

They'll be back changing the signs again...to PNC...except for those branches the don't survive the merger. 

Oh, and there's this: two months ago, the PNC chair said they would be closing almost 200 branches:

"PNC is now on track to close nearly 160 branches this year and another 120 next year, Chairman and CEO William Demchak said Tuesday at a virtual conference hosted by Barclays Capital. Combined, those cuts would be a roughly 12% decrease from the roughly 2,300 branches PNC had at this time last year, according to its latest financial filing."

                                                         (American Banker website)

 

And what does PNC stand for? 

Pittsburgh National Corporation