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November 16, 2020 - The PNC Financial Services Group (NYSE: PNC) has agreed to buy BBVA USA Bancshares, including its U.S. banking subsidiary, BBVA USA, for $11.6 billion in cash. Both banking companies have a presence locally. PNC Bank had 20 offices and $1.7 billion in deposits in the Tampa-St. Petersburg-Clearwater metro area as of June 30, the most recent date for which information is available, while BBVA had two offices in the metro area and $349 million in deposits, according to the FDIC. The deal is expected to close in mid-2021. After it closes, PNC intends to merge BBVA USA into PNC Bank and convert BBVA USA customers to the PNC platform with BBVA USA branches assuming the PNC Bank name, a news release said.

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