Banking is more than just numbers and transactions. Behind every business loan and savings account is a team of professionals dedicated to helping customers achieve their financial goals.
At PNC Financial Services Group, Inc. (PNC), it’s this people-driven success that has made it a leader in the banking industry for 160 years and counting.
“First and foremost, our people differentiate us,” explains Jim Stevenson, regional president of PNC. “Starting with our local leaders in northwest Pennsylvania (NWPA), we are blessed to have some of the best bankers in the region. Our local leadership team is comprised of individuals who have lived and worked in the communities across the NWPA region, some their whole lives.”
Regional President of PNC
Stevenson has been a part of the PNC team for the past 36 years. Since 2016, he has served as the Bank’s regional president and manager of Corporate and Commercial Banking in Northwestern Pa. He has also overseen Corporate and Commercial Banking activities in Western New York since 2009. He is supported by a strong senior leadership team that includes Chris Bernatowicz, the local leader for PNC’s Retail business, who has been with PNC for 37 years; Todd Swanson, the local market leader for Institutional Asset Management, who has also been with PNC for 37 years; and, Jeff Szumigale, the local market leader for PNC Private Bank, who has been with the Company for 40 years. A new face to PNC, but an experienced member of the senior leadership is Ashley Ross, a Meadville native and former banker, who joined the PNC team as vice president and director of Client and Community Relations in 2024 from a local health-care company. “Our senior leadership team would be the first to recognize that PNC’s success in NWPA reflects the outstanding teams that we are fortunate to lead,” says Stevenson. “Without them and their ongoing commitment to our clients, none of this is possible.”
As the one of the largest banks in the country with large-scale capabilities, PNC recognizes the importance of local leadership. The Bank’s local leadership has autonomy to make decisions that are in the best interest of clients and communities throughout the NWPA region.
According to Stevenson, PNC’s scale and capital position benefit clients because they know that they can depend on the bank whether times are good or, perhaps more importantly, challenging. The strength of PNC’s balance sheet enables the bank to extend credit to its clients throughout the economic cycle.
“This issue really came into play during a recent tumultuous period in the banking industry,” explains Stevenson. “This resulted in rising industry funding costs and related margin pressures as well as deteriorating capital positions.”
As Stevenson points out, banks that maintained disproportionate exposure to commercial real estate, particularly in the office-space segment, experienced further pressure on their balance sheets. This “perfect storm” resulted in the sector dislocation during that three-year period, which resulted in several high-profile bank closures and related acquisitions.
“Fortunately, PNC, though not immune to industry challenges, weathered that storm very well relative to the broader banking segment, which positioned us to continue to provide credit in a consistent and predictable manner,” says Stevenson.
CRITICAL RESOURCES
Today’s bank customers seek critical banking resources that offer financial security, easy access to credit, and digital convenience to manage their money efficiently. They also prioritize personalized financial advice, competitive interest rates and strong fraud protection to support both their personal and business financial goals.
For many businesses across NWPA, PNC’s treasury management offerings are a major consideration. PNC’s platform offers organizations of all sizes the products, solutions and advice they need to streamline processes, solve problems, maximize capital and drive their businesses forward. PNC’s technology tools, such as PNC PINACLE Connect®, can seamlessly integrate with a company’s existing treasury platform without disrupting its current banking relationship. PNC’s payment and receivables functions can improve working capital cycles to help a given company operate more efficiently and to offset higher costs in other parts of its business.
“In addition, we know that across NWPA, there is a preponderance of companies whose annual sales range up to $100 million,” notes Stevenson. “As such, with estimates that a significant percentage of companies in that segment nationwide are likely to have an ownership change in the next five years, PNC is well-positioned to further serve and advise our clients in this regard.”
PNC’s local Private Banking team, led by Szumigale, provides a full-service suite of solutions ranging from estate, investment and tax planning to advise a business owner who may be considering a sale of his or her business.
At PNC, businesses of all sizes have access to resources tailored to their specific needs.
“We take a segmented approach, so we have a team that is dedicated to working with smaller companies, one that primarily supports mid-size businesses and another team that supports large corporates,” says Stevenson.
PNC also employs industry experts who can help any size business integrate industry best practices, whether they’re in food and beverage, chemicals and plastics, or energy, metals and mining, to name a few.
While the needs for each size company may be different, even the smallest companies can benefit from PNC’s broad scale and expertise. “Every business owner wants to operate more efficiently, and we have access to advanced technological tools that can make operations more efficient,” notes Stevenson.
EXPERTISE MATTERS
PNC monitors emerging trends in commercial banking to help its clients stay competitive, resilient and financially secure.
One trend that has persisted since the COVID pandemic has been the focus on technology improvements that drive efficiency and productivity through automation.
“As this trend is only accelerating, it benefits businesses to work with a bank that is technologically advanced,” explains Stevenson. “The fact is costs of necessary technology and cybersecurity investments remain disproportionately high for smaller banks compared to the largest banks — which are able to realize economies of scale across their vast customer bases.”
The takeaway: scale and density in banking matter. According to Stevenson, as one of the largest banks in the country, PNC has made large investments to build out its technology to help customers drive business and to help protect them from cybersecurity threats.
Stevenson points out that size and stability are also critical trends in commercial banking, influencing how banks support businesses and manage risk. “During the banking challenges in the spring 2023, many companies were worried about their respective bank’s condition. PNC customers did not have to worry about that,” assures Stevenson. “As consolidation is inevitable in the banking industry, more and more clients are telling us PNC’s stability is an important deciding factor in choosing to bank with us.”
In the area of risk management and financial planning, “PNC’s credit box is consistent and predictable, which helps our clients plan ahead,” Stevenson adds. “There can always be variations based on where we are in the cycle, but generally clients understand our appetite for risk, which helps them as they’re making business decisions.”
Stevenson believes PNC’s flagship products and services — such as its best- in-class treasury management tools and capital markets solutions set, which includes rate risk management hedging and foreign exchange risk management — are in high demand among clients because they offer trusted, high-value solutions that address key financial needs. These offerings help businesses and individuals manage cash flow, reduce risk and grow strategically.
“PNC’s consistency and predictability regarding a business’s access to credit are incredibly important as well,” adds Stevenson.
GROWTH & SUPPORT
As one of the largest financial institutions in NWPA, PNC plays a crucial role in regional economic development by providing financial resources, fostering business growth and supporting community initiatives.
Stevenson is very proud of what PNC does to give back to the communities in the Bank’s 13-county footprint, one of the most notable being PNC’s longtime commitment to early childhood education.
one of the area Child Development Centers during PNC’s annual Operation Warm Coats distribution.
“For 20 years, PNC Grow Up Great® has helped children from birth to age 5 discover their love of learning,” says Stevenson. “By supporting and delivering engaging programs, experiences and resources in this region, we’re helping to create a world of opportunities for the next generation of community leaders.”
Adding to this local impact, PNC has supported other initiatives, including Operation Warm Coats. In 16 years, PNC has donated more than 17,000 warm winter coats to preschool children throughout Northwestern Pennsylvania.
Recently, PNC was proud to lead the formation of local bank coalition through United Way to adopt an Erie City public elementary school.
“PNC is committed to investing in and supporting the Northwestern PA community that has given us so much over our 100-plus- year history here,” Stevenson says.
A BRIGHTER FUTURE
For business customers in NWPA, PNC’s greatest strengths are predictability, longevity and its commitment to its customers and the broader community.
It was only three years ago, as Stevenson recalls, that the banking industry faced significant headwinds arising from the Fed’s strategic response to the 40-year high in inflation.
Today, the industry is much better positioned given the repositioning of balance sheets and the Fed’s easing policy in the second half of 2024. According to Stevenson, the latter has favorably impacted bank funding costs and, coupled with the repositioning of balance sheets, has driven margin improvement in the sector.
“In my 36 years at the Bank, I have never been more excited about PNC’s future,” says Stevenson. “It’s no secret PNC is looking to grow both organically and by acquisition. Our multi-year investments in our branch system across the entire PNC footprint is a clear demonstration of our commitment to this segment.”
Stevenson believes that industry consolidation may very well accelerate over the next few years due to a more favorable regulatory environment and, perhaps more importantly, the ongoing costs associated with technology investment requirements.
To remain competitive with cutting-edge solutions, banks must invest as there is no alternative.
“PNC is committed to and has positioned itself to be a long-term player in the industry via our size, our strength and our capabilities,” says Stevenson.
“All that having been said,” he adds, “it only works if we continue to perform at a high level by supporting our clients and our communities.”
Fortunately, PNC has a track record — 160 years of people-driven success — of doing just that.
“If we continue to do so,” Stevenson says, “I have no doubt 2025 and beyond will be successful for PNC not just in NWPA but across our entire nationwide footprint.”
For more information, visit pnc.com. PNC is a registered mark of The PNC Financial Services Group, Inc. (“PNC”)©2025 The PNC Financial Services Group, Inc. All rights reserved.
