Fifth Third Bank to sell its 17 Pittsburgh-area branches
PITTSBURGH (AP) — A Cincinnati-based retail bank is selling its 17 Pittsburgh-area branches.
Fifth Third Bank announced Thursday it’s selling the branches to First National Bank of Pennsylvania. The sale is expected to close in early 2016 and is part of a larger consolidation.
Fifth Third Bank had announced plans in June to shutter or sell about 100 of its 1,300 branches nationwide because of a customer-shift toward electronic banking.
Spokeswoman Laura Trujillo tells the Pittsburgh Tribune Review they aspire to be significant market players, but they thought the investment required to do that in Pittsburgh was too high.
First National Bank of Pennsylvania is a subsidiary of FNB Corp. and has been expanding its reach in recent years.
Customers will be contacted about the transfer of their accounts in the coming months.