PNC FINANCIAL SERVICES GROUP, INC.

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PNC Financial Services : Foundation Commits Grants Totaling $225,000 To Northampton Community College, Johnson College

01/13/2022 | 10:11am EDT

SCRANTON, Jan. 13, 2022 - The PNC Foundation announced that it has committed a total of $225,000 in grants to Northampton Community College (NCC) and Johnson College over a three-year period.

"As a Main Street bank, PNC is dedicated to enriching the lives of people in our local communities. Our relationship with Northampton Community College and Johnson College reflects the role PNC can play in helping to create a more inclusive economy and advance the economic empowerment of Black Americans, and low- and moderate-income communities," said Pete Danchak, PNC regional president for Northeast Pennsylvania.

Funding provided to NCC, located in Bethlehem, Pa., will support its PNC Summer Career Institute. The focus of this initiative is to help low-income Black students choose a family-sustaining career path; explore post-secondary options that support their chosen career field; learn how to navigate the college selection, admissions, and application process; and gain the financial literacy skills and resilience that will serve them throughout adulthood. The four-day residential college experience will provide a cohort of students with grade-level targeted career and financial literacy education each summer for three years. NCC will work with Liberty High School to recruit 24 tenth grade, low-income students to participate in a career exploration experience for three consecutive summers at NCC.

"We are excited about this new relationship with the PNC Foundation that will support NCC's commitment to social justice and equity for our students and our community," said Sharon Beales, executive director for Northampton Community College Foundation. "With a focus on local, Black high school students, this pilot program will help reduce the racial wealth gap by facilitating career exploration and college preparation, financial literacy knowledge, and the success mindset that are keys to building long-term personal and financial success."

Johnson College's Industry Fast Track Program (IFT) is a joint partnership with area school districts. The program offers high school juniors and seniors an opportunity to simultaneously enroll in secondary and post-secondary coursework on the Johnson College Campus. Students remain enrolled full-time at their high school while attending classes at Johnson College. The College's Recruitment Advisor supervises students and monitors academic progress. Funding will provide support for at least four Black, low-to- middle-income students through tuition, books, technology fees, personal protective equipment and required tools, for a three-year period.

"Our Industry Fast Track program makes a difference to students and employers by getting qualified technicians into industry that much faster. Now with PNC Foundation's $75,000 scholarship support, students will be able to do this without having to worry about the cost," said Dr. Katie Leonard, president & CEO, Johnson College. "The PNC Foundation will help cover costs like books, tools, and tuition, giving our Industry Fast Track students the freedom to focus on their education, which will lead to a fulfilling career."

The PNC Foundation grant is part of PNC's Community Benefits Plan announced last April, inclusive of PNC's previously announced commitment of more than $1 billion to support economic empowerment opportunities for Black Americans and low- and moderate- income communities. The Community Benefits Plan will provide at least $88 billion in loans, investments and other financial support to benefit low- and moderate-income individuals and communities, people and communities of color, and other historically marginalized individuals and communities, over a four-year period beginning in 2022.

PNC is committed to addressing systemic racism, promoting social justice and advancing diversity, equity and inclusion, not just within PNC, but within the broader financial system and our communities. That commitment is centered on PNC's Main Street bank business model, which is focused on local decision-making and being an active part of the communities the bank serves.

Northampton Community College's core mission is to provide excellent, accessible and comprehensive learning experiences in partnership with the dynamic, diverse communities we serve.

Johnson College, founded in 1912, is the region's only technical college. Its 18 associate's degree, four academic certificate programs, and 31 continuing education courses, provide real-world, hands-on learning in a supportive environment and prepare graduates to enter into or advance their careers.

The PNC Foundation, which receives its principal funding from The PNC Financial Services Group (www.pnc.com), actively supports organizations that provide services for the benefit of communities in which it has a significant presence. The foundation focuses its philanthropic mission on early childhood education and community and economic development, which includes the arts and culture. Through Grow Up Great, its signature cause that began in 2004, PNC has created a bilingual $500 million, multi-year initiative to help prepare children from birth to age 5 for success in school and life.

CONTACT:
Karen Burley
(410) 237-5549
karen.burley@pnc.com

Disclaimer

The PNC Financial Services Group Inc. published this content on 13 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2022 15:10:01 UTC.


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Financials (USD)
Sales 2022 20 950 M - -
Net income 2022 5 911 M - -
Net Debt 2022 - - -
P/E ratio 2022 12,2x
Yield 2022 3,34%
Capitalization 71 529 M 71 529 M -
Capi. / Sales 2022 3,41x
Capi. / Sales 2023 3,14x
Nbr of Employees 58 547
Free-Float 75,4%
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William Stanton Demchak President
Robert Q. Reilly Chief Financial Officer & Executive Vice President
Ganesh Krishnan Chief Information Officer & Executive VP
E. William Parsley Chief Operating Officer & Executive Vice President
Gagan Singh Chief Investment Officer & Executive VP