How PNC Is Investing $1.5B to Redefine the Bank Branch Experience

While many banks scale back branches, PNC is going in the opposite direction. With a $1.5 billion investment, they’re proving the future of banking still needs a front door.

Over the next five years, the bank plans to open more than 200 new branches and renovate thousands of existing locations, making a definitive statement about the role of physical banking in a digital world.

At BankSpaces, Jeffrey Martinez, Head of Branch Banking at PNC, shared the strategic thinking behind the bank’s aggressive – and in many ways innovative – expansion.

Doubling Down Where You Already Are

Martinez emphasized a key principle driving PNC's approach.

"Are you winning the fights that you're investing in, or is there something shiny that's a distraction from your core strategy?" Rather than chasing new markets, he said, PNC is deepening its presence in existing territories where the brand is already rooted and known.

The bank's expansion focuses on markets where they currently operate but lack sufficient density to drive relevance. 

"We are in more MSAs (Multi-state Statistical Areas) than many of our large peers, including Bank of America and Wells Fargo," Martinez said. "What we have lacked is the density in this ultra-thin network to drive that level of relevance."

Currently reaching optimal density in only six of their top 30 MSAs, this expansion plan will bring that number to 19, creating what Martinez calls an "inflection point of relevance." 

Hospitality Over Technology

In an era of increasing digitization, PNC is taking a decidedly human-centered approach. Martinez stressed that while technology remains valuable, it must be "activated through people" rather than replacing human connection entirely. He put attendees on notice to never take for granted the essential workers in your branches for the sake of technology.

"We took our most valuable asset—our people—and tried to dilute them through technology," he said. "We know that technology is activated shoulder-to-shoulder. But let’s create a better reliance on technology – one that is humanly led, not just digitally led."

This human-centered philosophy extends to simple gestures like opening doors for every client. "If you can get opening the door for your customers done right, it makes your clients want to figure out what else you can do right," Martinez said.

Proving the Investment Works

The strategy is already showing results. In 2024, after renovating over 320 branches, PNC saw record growth in net demand deposit accounts (DDA). The bank also earned the No. 1 ranking for branch networks from JD Power in 2024, validating their investment approach, Martinez said.

He attributes this success to what PNC calls being "brilliantly boring"—a slow-burn-like approach that prioritizes intentional, sustainable growth over flashy innovations.

"Slow is intentional," he said. "The brilliance behind the boring is how we've brought these structures to life."

Looking Forward

PNC's branch designs average 3,500 square feet, larger than industry standards, because the bank is "building things to blow out of the seams," Martinez said. 

These spaces are designed not just for retail banking but to accommodate wealth management and corporate banking partners, creating true community hubs.

A key takeaway from Martinez's presentation? Success isn't about the size of your institution, but about understanding how to create density and relevance to win in the markets you are already in – or want to enter into. 

As he put it, "It doesn't matter the size of your bank. Do you understand if you have the density and relevance to win at the zip code level, county, or state?"

Watch the full talk 👇