PNC Bank Corp. on Tuesday completed its $275 million purchase of Hilliard Lyons Inc., Louisville, Ky.
Established 144 years ago, Hilliard Lyons is a full-service broker- dealer with 90 offices in 13 states in the Midwest and Southeast.
The firm, which administers more than $22.5 billion of customer assets, focuses on brokerage and investment services for high-net-worth clients. PNC has said previously that it plans to let Hilliard Lyons take the wheel of its brokerage business.
Hilliard Lyons will retain its name and its Louisville headquarters, PNC said.