Pittsburgh-based PNC Bank is expanding its reach in Northern California, particularly the Central Valley. Google Street View image

Under the guidance of a new regional president, Pittsburgh, Pennsylvania-based PNC Bank is expanding its reach in Northern California, particularly the Central Valley.

As a high-growth market, the Central Valley has multiple business lines in the area, from health care and real estate to food and beverage and business banking.

PNC Bank currently has two offices in the Central Valley handling $98.3 million in deposits, according to data from the Federal Deposit Insurance Corp. as of June 30, 2022. With 0.31% of the local market share, PNC is ranked 19th out of 22 institutions in the local market.

Between the company’s corporate banking, commercial banking, business banking and SBA teams, PNC has deployed millions of dollars in capital to local businesses, said Megan Schoettmer, regional president for PNC, Northern California.

According to Schoettmer, PNC wanted to have a presence coast-to-coast, driving them to form a regional presence in Northern California covering everything from Bakersfield to the Oregon border.

In less than 12 months since Schoettmer took over as regional president, PNC has pumped hundreds of millions of dollars in new business, one of which is the Foundation for Fresno Unified Schools, which received a $20 million donation from philanthropist Mackenzie Scott. PNC has worked with the foundation to advise and consult on their investment strategy and services for their scholarship fund for high school seniors.

“It’s a great example of how we’re bringing our expertise and consulting to help out a business,” said Schoettmer. “We were able to help them make sure they’re able to protect and grow that donation.”

Even though PNC has a focus on its “Main Street” banking model, meaning the company has all the capabilities and resources of a large institution, it gives the feel of a regional or community bank, said Schoettmer.

“We have a heavy involvement in the communities where we work and live, and we really want to make a difference there,” said Schoettmer.

In fact, PNC recently sponsored and attended the Fresno Area Hispanic Foundation’s Power of Women in Business Conference on June 1. PNC places emphasis on women’s financial success and has several programs and initiatives designed to help them succeed financially, according to Schoettmer.

PNC also has a history of leveraging low-income housing tax credits in Fresno since 2008, and continues to provide that service and eventually more, according to Schoettmer.

The company’s expansion West has proven fruitful as a result of its diverse and talented team and the success of PNC’s Main Street banking model, as well as the company’s reputation and dedication to its clients, according to Schoettmer.

“We’re coming to clients with a strong balance sheet, a strong reputation and we’re a very diversified bank, but we’re coming to clients with that very vocal community feel,” said Schoettmer. “We’re very focused on making sure we’re providing thought leadership and being very consultative in order to help our clients grow as well.

Schoettmer attributed part of the success to PNC’s community benefits plan, which is an $88 billion commitment to uplift the communities where PNC is focused, especially in underserved communities. PNC implemented this plan regionally in the beginning of 2022.

Schoettmer shared that PNC’s success regionally is only the beginning and that the company is dedicated to continue providing service to Fresno and the rest of Northern California.

“We are very focused on Northern California, we’re here for the long haul,” said Schoettmer. “We want to create very long-term relationships and grow with these markets.”