PNC
PNC Financial Services Group Inc
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From down 95% to up 99%, don't give up retards. It's only a loss when you give up, not when you sell at a loss. Bought AAPL Puts with my last 250$ when it hit 3 trillion valuation followed by Qualcomm and PNC Puts since they were both near all time highs. Made a killing on PANW puts after that.
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Mentions
Thoughts on PNC Bank? Purely a trade
Ohh please be PNC I have two mortgages with that bank. I want to be Free and clear baby! 😂
PNC bank has been calling me for the last 8 months harassing me about my money in my account. Now that banks have failed I know why. Do something with that information as you wish
According to this article PNC and Morgan Stanley are possible buyers for First Republic. https://www.foxbusiness.com/markets/first-republic-bank-headed-possible-sale-institutional-bailout PNC Bank is an excellent bank. Been with them on and off for close to 50 years (staring when they were Pittsburgh National Bank. A year or so back, I moved my bank account (neither PNC relate). If I would have waited a week, I would have moved to a bank which was just bought by PNC.
Hmmm TD or Chase. Stay away from Suntrust, PNC & Wells Fargo
My mind is on PNC, i hate that back
Just accepted my internship for PNC this summer
PNC stands for probably not closing. Because even if your a 860 credit score with 50% down they still don’t prioritize giving you a Mortgage
If JP Morgan, Citi or PNC go under we are F-U-C-K-E-D
PNC is gonna fold. I paid off my car loan with them 14 months early. The loss of interest from my account will spell their DOOOOOOM!!!
I’ll be in the car PNC paid for
If you got approved by PNC you’re the person who pay their debts….that and it’ll most likely be sold to another bank so there’s no escaping!
If PNC does somehow go under do I still have to pay my car loan?
You missed the cross on Credit Suisse. Next order will be First Rep Bank, PacWest, PNC and possibly Schwab
I hope PNC goes bankrupt. Fuck them.
If PNC goes tits up, I’ll assume I just get my house
I’ve been on the inside of PNC underwriting for business loans and yes they are ultra conservative when it comes to approving their loans. Their loan default ratio is super low.
PNC was also fine before, they’re exceedingly well run. They only had to take TARP money because the Gov encouraged them to buy National City to absorb its toxic assets. The TARP money they got covered those write downs.
Can we get PNC next I hate that bank 🏦. Any takers?
I got SCHW, PNC, and CFG. At the most basic level, I bought these because they have been the acquiring institutions in the not so distant past.
This is wrong. How do you not have NY Melon Bank but PNC? Shits ass backwards
I believe USBank and PNC will be fine as they’ve been ultra risk averse since the housing collapse in 08.
Try getting any significant cash from PNC, lol… can’t lose what you won’t give!
Meh, nah. This is classic “trapped in the moment” type shit. You know how people would look at charts of shit like BofA like 5 years after the GFC and go “ugh, why didn’t I buy back when they were selling for nothing?” Well, because in moments like this everyone somehow loses the ability to discern what’s quality and what’s shit. Instead of seeing lots of diverse businesses, suddenly it’s “all BANKS” are at risk. They aren’t. Like, no way in hell are the massive American banks at risk. They’re too “systematically important” anyway. Canadian banks are as safe as it gets. And even regionals like PNC have no business being on this. They’re solid and totally fine. Hell, fucking WAL was seeing deposit *inflows* at the end of last week, has >55% of its deposits fully insured, and has $20B in cash reserves ready for any outflows. Truly, why would they fail now? We’d need a new onslaught of bank runs *bigger* and way more panicked than the one we just saw in the wake of the SIVB, Signature, and FRC bank runs. And FRC isn’t failing, it’s just not going to be a profitable bank anymore. It’ll be sold.
I'm gonna be pissed if PNC falls. It is thanks to them I even get money out from atms. Other atms kept asking for three dollar surcharges. Not sure if they do anymore since it has been a few years since I've even looked at a non PNC backed atm.
Watching PNC, bought first republic, SoFi, CFG and TD
I would look at any of the banks who lent to Republic to keep it afloat [https://www.cnbc.com/2023/03/16/group-of-financial-institutions-in-talks-to-deposit-about-20-billion-in-first-republic-sources-say.html](https://www.cnn.com/2023/03/16/investing/first-republic-bank/index.html#:~:text=The%20major%20banks%20include%20JPMorgan,a%20tumultuous%20moment%20for%20lenders) List: * JPMorgan Chase (JPM) * Bank of America (BAC) * Wells Fargo (WF) * Citigroup (C) * Truist (TFC) * Goldman Sachs (GS) * Morgan Stanley (MS) * PNC (PNC) * U S Bankcorp (USB) * State Street (STT) * Bank of New York Mellon (BK) I own GS and USB, and am accumulating them right now. I personally won't ever own WF. Many people here like JPM and that's an easy bet.
MTB, PNC, CFG. Less risky and going to hold them longer. NYCB, KEY, FITB. Moderate risk but small positions. FRC. Bought at 20 and sold at 45 for original investment and 20% profit.
I wanna ban bet that FRC gets bought out tomorrow by either Morgan Stanley or PNC
Thank you for choosing PNC Bank. Please insert your card and enter your Card Free Access Code to begin. For larger cash withdrawals, multiple ATM transactions may be required. Thank you!
PNC is an FDIC insured bank, so as long as your money is in a normal checking/savings account it is covered under FDIC. The issue the FDIC faces if there is a massive bank run is that they don’t have enough money to cover all depositors funds. If 10,000 people run to a small bank and withdrawal all their funds and that one small bank goes bankrupt because of it, the FDIC can likely cover anyone else who didn’t get out up to the $250k threshold. Now, if a million people run to the bank and start pulling all their money out and many banks start going bankrupt the FDIC doesn’t have enough to cover that. Which means they would turn to the Federal Reserve for money for anything they couldn’t cover. Which means money printer go brrrr and inflation goes up. Credit Unions are not FDIC insured banks, for ones that are federally chartered they are typically covered by the National Credit Union Share Insurance Fund (NCUSIF) which also has a $250K limit on checking and savings deposits.
lol. There is PNC bank 4 miles away and a credit union like 2 miles away.
Uhh...so if my bank, PNC, goes under (or whatever is happening I'm not up to date) and I try to withdraw money, does it just all go away? I only use banks so I can setup direct deposit and draw from it instead of holding cash.
It’s naive to think what happened to SVB and Signature was because they were extreme risk takers. They did a lot of loop holes to put their debt down the line. Also it’s crazy to think they received an award one week prior to their “collapse”. Just add fuel to the fire because now JP BofA Wells Fargo PNC all bought their debt cheap nobody loses but the little guys and again we kick the van down the road siphon the money off and watch as it corrodes overtime. Interest rates are killing these banks. Housing market is decking YoY as well people just don’t understand simple math and logical reasoning of why we got here. Lack of disciplined and consequences from the government to allow these folks to be in their pockets and look the other way. Nothings changed for banks or Wall Street since Obama bailed them out and made it obvious that they get slaps on the wrist. Every administration since then doesn’t give a shit about regulation banks better especially when they have G-SIB (Global Systemically Important Bank)
How do we like PNC here? Biggest bank in the southwest quadrant a plus or just not good to be on this chart altogether? I feel like they have a blue collar, small business (but like real businesses- manufacturing and shit) vibe that makes them feel durable
I would not buy KRE. Many of these small banks are going to permanently lose deposits. Not to be compared with prior banking crisises. If you are looking for a deal, I'd focus only on the super-regionals (ie the USB, PNC, TFC group) as they are down with the rest of KRE but they are getting thrown out with the bath water right now.
Thanks. I think this is the part that spooked investors: >From March 10 to March 15, 2023, Bank borrowings from the Federal Reserve varied from $20 billion to $109 billion at an overnight rate of 4.75%. They also said: > As of March 15, 2023, the Bank had a cash position of approximately $34 billion, not including the $30 billion of uninsured deposits from Bank of America, Citigroup, JPMorgan Chase, Wells Fargo, Goldman Sachs, Morgan Stanley, Bank of New York Mellon, PNC Bank, State Street, > >Insured deposits from close of business on March 8, 2023 to close of business on March 15, 2023 have remained stable. Daily deposit outflows have slowed considerably. The real question is what's the current book value of FRC assuming that loans and securities are HTM and don't have to be sold at loss.
You do understand that banks are repaying based on assets they already hold, but due to timing differences, couldn't pay upfront? That is what the entire bank run is about. Also not every bank needed liquidity to cover their deposits so why on earth do you think that the banks that have been jeopardized will be able to offer worse interest rates? They are already losing business which is why the banks that have ample liquidity are seeing strong growth (BofA,JPM,PNC, etc.) The national banks are fine and will only grow because of this. To think that a select group are enriching themselves based on federal money coming for deposits is as much of a stretch as thinking the banking industry as a whole is troubled right now.
What is going on: banks don’t have enough money - then yellen says one bank is just lending other banks money. Some of the banks lending money like PNC aren’t if great shape either. And the market is going up because…. It hopes there will be no rate raise and potentially new QE? Wouldn’t that rocket inflation and crush people? What is the exact endpoint to stop the hysteria? What would make yellen believable?
>You're lucky that PNC gave you a balance transfer. Poor people would never be able to get something like that.
Bank of America, Citigroup, JPMorgan Chase and Wells Fargo said they would inject$5 billion each in uninsured deposit into First Republic Bank. Goldman Sachs and Morgan Stanley each made an uninsured deposit of $2.5 billion, and BNY Mellon, PNC Bank, State Street, Truist and U.S. Bank made an uninsured deposit of $1 billion, for a total deposit from the eleven banks of $30 billion. What does the report say uninsured? This is just a clown show.
Some banks are really strapped for cash: > *JPMORGAN, CITIBANK, BANK OF AMERICA, WELLS FARGO EACH MAKING A $5B UNINSURED DEPOSIT INTO FRC > *GOLDMAN SACHS AND MORGAN STANLEY EACH DEPOSITING $2.5B > *BNY-MELLON, PNC BANK, STATE STREET, U.S. BANK EACH DEPOSIT $1B > *TOTAL OF 11 BANKS TO DEPOSIT $30B INTO FIRST REPUBLIC BANK
>JPMORGAN - BNY MELLON, PNC BANK, STATE STREET, TRUIST AND U.S. BANK ARE EACH MAKING AN UNINSURED DEPOSIT OF $1 BLN INTO FIRST REPUBLIC BANK ^First ^Squawk ^[@FirstSquawk](http://twitter.com/FirstSquawk) ^at ^2023-03-16 ^15:25:35 ^EDT-0400
>BANK OF AMERICA, CITIGROUP, JPMORGAN CHASE, WELLS FARGO, GOLDMAN SACHS, MORGAN STANLEY, BNY MELLON, PNC BANK, STATE STREET, TRUIST AND U.S. BANK TO MAKE UNINSURED DEPOSITS TOTALING $30 BILLION INTO FIRST REPUBLIC BANK ^First ^Squawk ^[@FirstSquawk](http://twitter.com/FirstSquawk) ^at ^2023-03-16 ^15:24:58 ^EDT-0400
>GOLDMAN SACHS, MORGAN STANLEY , PNC FINANCIAL SERVICES, TRUIST, US BANCORP TO ALSO PUT DEPOSITS IN FIRST REPUBLIC BANK: SOURCES ^First ^Squawk ^[@FirstSquawk](http://twitter.com/FirstSquawk) ^at ^2023-03-16 ^14:54:24 ^EDT-0400
I have not! Will definitely explore. From the research I did around International ATM withdrawals, PNC used to be the best with their premier account but they made changes in the last few years so I switched over to Schwab. I'll check out Fidelity's CMA, thanks.
So RBC, PNC, and US Bank are potentially interested in buying out FRC? Why is it tanking?!
>You're an idiot if you think PNC is going to be around in 2024. They'll be bankrupt long before then.
My eyes are on PNC. I want to know what they hold since the purchase of BBVA America in late 2021. Also interested in the former parent from Mexico, Bancomer.
JPMorgan, Wells Fargo, Bank of America, Goldman Sachs, Citi, US Bancorp, PNC all gave more and pretty much every big bank gave some. So when are they going broke?
Ok. Thx for info. Makes sense. Now that I think of it. I did hear PNC may acquire a regional in TN.
OXY, BX and PNC. When people are selling scared, I'm buying.
Anyone gonna buy the dip on PNC stock?
I’ve Always had a second bank because I use PNC for checking and they have never, ever paid more than like .5-7% for savings. Then last month I’m about to do my usual transfer out and boom 4% interest.
PNC Bank has always been good to me. I’ve had to deal with fraudulent charges on my debit card several times before and they always refunded me all the money promptly.
PNC rates differ depending on where you live. I **think** it's dependent on whether there is a physical branch around you or not. Any time I've checked, it's essentially zero.
The banks. CS, USB, PNC, Key, FRC, etc, etc, etc, etc
Bro my PNC rate is 4.0%. Get your banker on the phone
They use BNY Mellon and PNC. Both of which are solid on their balance sheets.
Who isn’t sticking to cash with a 4%+ interest? WeBull, shitty RH, and pillar banks (PNC) are paying me to do nothing. I’m ok with that.
There are several banks that are definitely being roped in and beaten down. The “super regionals” like Zion, PNC, Truist etc. could be good “dip” opportunities because they are geographic plays as well.
Bro how do you get that? I have a PNC account.
4.15% interest on my cash in PNC? Yeah I’ll keep it parked there. God speed my 401K, ROTH IRA, and trading account.
Jesus are all these deposits just the same money being held at 20 banks?! No reason to discuss the state of a nations financial system unless $30b at Bank of America is held by Huntington who holds it in PNC who holds that deposit in Southern Mutual who parks it in Wings Financial who splits it between Old National and Trustone who hold it in Bank of America who hold it in...
Where is PNC on this list?
PNC, shoulda bought you yesterday:(
2 of my cousins work for PNC. I wouldn't trust them with a box of crayons, let alone actual money. They think an interest rate is how interested people are in something.
> In statements to The Wall Street Journal, several regional banks indicated they haven't seen large deposit outflows. PNC maintains a "strong core deposit base." Fifth Third deposit balances "were higher than anticipated" on Friday. KeyBank wasn't seeing "anything unusual." @wsj https://twitter.com/SteveMatthews12/status/1635375663359352837?s=20
PNC bank is next you heard it here first
PNC is going to cancel my 4% APY savings account rate, aren’t they? Fuck.
I don’t understand why BAC and PNC are drilling to the core
>PNC FINANCIAL IS NOT IN TALKS TO ACQUIRE SVB FINANCIAL OR SILICON VALLEY BANK - PNC SPOKESPERSON $PNC ^\*Walter ^Bloomberg ^[@DeItaone](http://twitter.com/DeItaone) ^at ^2023-03-13 ^08:32:13 ^EDT-0400
Good to know. I own shares of PNC.
Because it’s literally not a bank lol. They use PNC. Like how Robinhood uses JPM chase for their card, etc
This is what I'm unironically trying to figure out. All my money is in PNC, should I get it the fuck out tonight, or am I likely to be able to access it tomorrow? It's not much, like $3K
FDIC: would any of you banks like this poop on a platter? JPM: im good dawg PNC: pass WFC: ehhh FDIC: okay ill call my uncle sam
Imagine the Chad feeling PNC execs felt in their meetings with the hopeful FDIC and treasury reps when they say 'mmm.... No.'
https://www.cnbc.com/2023/03/12/pnc-decides-not-to-bid-on-silicon-valley-bank-as-regulators-struggle-to-find-rescue-buyers.html I just moved everything to PNC about two weeks ago. Good. Dont fuck with SVB garbage.
Interest in SVB cools. Source (Investing.com): [Exclusive-PNC, RBC interest in SVB cools as regulators seek rescue bids By Reuters (investing.com)](https://www.investing.com/news/stock-market-news/exclusivepnc-rbc-interest-in-svb-cools-as-regulators-seek-rescue-bids--sources-3028355)
Looks like they couldn't find a bank to buy SVB. Neither PNC nor the canadians wanted that dog shot
PNC Financial, Royal Bank of Canada interest in SVB Financial Group cools - Reuters https://www.reuters.com/business/finance/pnc-rbc-interest-svb-cools-regulators-seek-rescue-bids-sources-2023-03-12/
Is PNC buying SVB? Shit PNC depositors are my Maga boomers in TX….imagine tech bros in shambles
- C: Citibank - RE: Regions Bank - MTB: M&T Bank - JPM: JPMorgan Chase - WFC: Wells Fargo - PNG: PNC Bank - CFG: Citizens Financial Group - HBAN: Huntington Bancshares - TFC: TD Bank - BAG: Bank of America - ZION: Zions Bank - FITB: Fifth Third Bank - USB: U.S. Bank - KEY: KeyBank - CMA: Comerica Bank - SIVB: 🤡
I'd like a company like BNY Mellon, Goldman Sachs, or Northern Trust picking up the pieces of SVB Wealth/Private over a USB/PNC/TFC acquisition. The customer base would flee being forced into a regular retail bank over wealth management specialized banks.