PNC buys Canadian bank’s subsidiary


June 20, 2011 at 10:24a.m.

Pittsburgh-based PNC Financial Services Group announced today that it has signed an agreement to acquire RBC Bank, a U.S. subsidiary of the Royal Bank of Canada, for $3.45 billion.

The acquisition will add 424 bank branches, $25 billion in assets, $19 billion in deposits and $16 billion in loan balances to PNC.

Read the complete story in Tuesday’s Vindicator and at Vindy.com.