BBVA bank to be acquired by PNC

BBVA and PNC Financial Services Group, Inc. have announced that PNC will acquire BBVA USA, of which Idyllwild’s BBVA bank is a branch. BBVA USA is a banking subsidiary of BBVA USA Bancshares, Inc., the whole of which is being purchased by PNC.
The transaction is not expected to be formally approved by regulatory agencies until the latter half of 2021.
PNC has announced that it intends to merge BBVA USA into PNC Bank, N.A. and to “convert BBVA USA customers to the PNC platform with BBVA USA branches assuming the PNC Bank name.”
The Town Crier contacted our local BBVA branch on Monday morning for comment and to inquire as to how, if at all, this transaction is expected to impact customers here in Idyllwild.
Our BBVA branch referred us to an off-Hill press relations person, Christina Anderson, who declined specific comment regarding whether PNC would or would not be closing any of BBVA’s branches — nor could she comment on any customer-affecting changes PNC would or would not be making at our local level.
In a follow-up email, Anderson added: “During this [regulatory approval] time, customers will continue to interact with the bank in the same way they always have. Customers should expect to receive communication on what to anticipate as the two banks integrate as PNC, and BBVA and PNC are both committed to working together to continue ongoing, transparent and open communication so customers know what to expect each step of the way.”
The TC will report further details as they become available.