In Brief: PNC Closes a Baltimore Deal

PNC Financial Services Group Inc. of Pittsburgh closed its deal Friday to buy Mercantile Bankshares Corp. of Baltimore for $6 billion.

The deal gives the $102 billion-asset PNC its first branches in Baltimore and extends its branch networks in Delaware, Pennsylvania, and the Washington area.

The addition of the $17.7 billion-asset Mercantile's 240 branches gives PNC a total of 1,092. PNC plans to convert the systems and branches of Mercantile's community banks in the third quarter.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER