KINGSTON — Customers of the branch of PNC Bank on U.S. Route 11 near Northampton Street have been notified that the branch will close June 21 and that their accounts will be transferred to the closest branch, one mile north on Wyoming Avenue and Union Street in Kingston.
The Pittsburgh-based bank previously announced that it’s planning to close 200 branches nationwide this year as part of a restructuring effort. It’s a $700 million cost-cutting move, the Pittsburgh Business Times reported.
“This consolidation is in line with the others we are implementing this year,” said Marcey Zwiebel, vice president and senior manger of external communications for PNC Financial Services Group. “Research indicates that PNC customers today are banking very differently, opting to use our convenient online and mobile channels and ATMs to conduct their basic banking needs. PNC continues to evaluate its branch network to assure we are meeting customer needs in a cost effective way, which at times results in the consolidation of branches.”
Zwiebel said the only other regional PNC branches slated for closure in the coming months are the Lehighton branch on South First Street and the Nazareth branch on North Center Square. Like the Kingston branch, both will close June 21.
Saying it was policy not to detail the number of employees at branches, Zwiebel said, “typically when PNC closes a branch, we do our best to reassign the staff.”
The branch where accounts are being transferred to is located at 664 Wyoming Ave. near Union Street just one mile away from the 100 S. Wyoming Ave. branch near Northampton Street and the border with Edwardsville.
PNC is the largest bank in the Greater Scranton/Wilkes-Barre area by number of branches and deposit market share.
According to the Federal Deposit Insurance Corp.’s annual analysis of banks deposit market share in the Scranton/Wilkes-Barre metro area as of June 30, 2012, PNC Bank had 33 offices in Lackawanna, Luzerne and Wyoming counties and reported $2.5 billion in deposits, about a quarter of all deposits in the tri-county region. The next closest was Wells Fargo, which reported a little over $1 billion at its 14 branches.
Nationwide, PNC has about 2,900 branches in 19 states and Washington, D.C., and employs 56,000 worldwide.
In Luzerne County, PNC operates 19 branches including those in Avoca, Mountain Top, Dallas, Mocanaqua, Conyngham, Wilkes-Barre, Hanover Township, Kingston, Wyoming, Plains Township, Wilkes-Barre Township, Dupont, White Haven, Freeland, Nanticoke and West Pittston.