PNC to buy RBC Bank USA, time to go elsewhere

Well, looks like a great customer relationship focused bank is coming to a close. I’ve banked with RBC for many, many years, mainly because they were a community focused bank, even after Royal Bank of Canada purchased them. Apparently, RBC wasn’t making much money off the purchase, which would explain RBC Bank’s good service, they spent their money focused on customers.

Now it seems that RBC of Canada is dumping their investment, and selling it off to PNC. For PNC to make this profitable, they’ll most likely have to cut staff, skimp n services and reduce the quality of customer service and that personal relationship. Essentially, following the Bank of America roadmap to effective banking. We’ll see how long it takes before customer satisfaction goes south and I look for another small bank.

PNC Welcomes RBC Bank USA CustomersToday we announced that PNC Bank, a member of The PNC Financial Services Group, Inc. NYSE: PNC, has signed a definitive agreement to acquire RBC Bank USA, the U.S. subsidiary of Royal Bank of Canada.