PNC Financial Services Group Inc. of Pittsburgh closed its deal Friday to buy Mercantile Bankshares Corp. of Baltimore for $6 billion.
The deal gives the $102 billion-asset PNC its first branches in Baltimore and extends its branch networks in Delaware, Pennsylvania, and the Washington area.
The addition of the $17.7 billion-asset Mercantile's 240 branches gives PNC a total of 1,092. PNC plans to convert the systems and branches of Mercantile's community banks in the third quarter.