PNC Bank rolling out 25 new branches across metro Atlanta

PNC Bank is rolling out dozens of new branches in metro Atlanta as it looks to grow market share and brand awareness in the region.

The Pittsburgh-based bank recently opened new branches in the South Fulton/College Park area and in Roswell to kick off a 25-location expansion in the region by 2029.

The expansion comes as banks are starting to open more branches than they close, especially in the Southeast, according to trade publication American Banker. That could start to reverse a decades-long trend of bank branches closing in favor of digital services.

As of late June, there were 2,044 bank branches in Georgia, up from 2,023 from the same period last year and 2,010 in 2024, according to data from the Federal Deposit Insurance Corp. That’s still less than a decade ago when the state had 2,439 branches.

PNC leadership is hosting grand opening celebrations at the new branch at 6125 Old National Highway on Tuesday and at 1335 Holcomb Bridge Rd. on Wednesday.

Five more locations are expected to launch before the end of the year in Cumming, Alpharetta, Sandy Springs, Duluth and Buford. PNC also said it is hiring more than 100 employees in the next three years as it stretches across the metro.

“We have room to grow,” Samantha Jones, PNC regional president for Georgia, said in an interview. She cited drivers such as metro Atlanta’s diversity, educational opportunities and business growth. “It’s just a smart market. … The opportunity that we have is significant.”

Even in the age of digital payments and online banking, PNC sees the value of physical branches, said Alex Overstrom, head of retail banking. They provide a place for conversations around topics such as financial wellness, retirement or small business lending, he said.

The majority of consumer and small business accounts are still opened in a bank branch, Overstrom added, and physical locations help drive more digital sales.

In fact, markets with a branch presence “see six times the amount of digital checking account openings than markets where we don’t have a branch,” Overstrom said. “They’re very visible, and I think give people a peace of mind that we’re established … and we’re there for anything they need.”

PNC first entered the Atlanta market in 2011 and today is the 12th-largest bank in the region, with nearly $4.2 billion in deposits, or a market share of 1.6%, according to the FDIC.

PNC Bank now has 54 retail branches in metro Atlanta with the new South Fulton and Roswell locations, along with a mobile bank that travels into lower-income communities.

It remains a competitive market. The largest banks in metro Atlanta are Truist Bank, with almost 19% market share of deposits; Bank of America, with about 15%; and Wells Fargo, with nearly 13%.

“We’re a challenger in the market,” Jones said. “We have the people. We have the expertise. We have the products, and with this expansion, it will only allow us to grow more.”

PNC announced its metro Atlanta plans about two years ago. It’s part of a broader $2 billion investment by PNC to expand and modernize its branch network in key U.S. markets. The bank is also renovating existing branches, Overstrom said.

U.S. deposit growth has recovered since the failure of five banks in 2023, including the high-profile collapse of Silicon Valley Bank. Year to date, bank deposits are up more than 5%, while gold is down and digital options such as Bitcoin or stablecoins are showing slower expansion, according to a report from New York-based Brean Capital.

“There’s liquidity in the system” that has remained since the federal government provided economic stimulus during the COVID-19 pandemic, said Chris Marinac, director of research of Brean Capital, which has an Atlanta office.

“The banks are just getting their share,” he said. “There was a little bit of worry temporarily when you had the whole Silicon Valley mess that year, but that’s now behind us, and we’re net positive. … We’ve seen that the system keeps expanding.”