National Bank of Pittsburgh
(now PNC Bank)
The First National Bank, incorporated in 1863, is one of the city's oldest financial institutions. In 1876, the City of Pittsburgh had no less than eighty-seven separate banking institutions, and twenty-seven of these were part of the national banking system. First National Bank of Pittsburgh was the first bank to adopt a national charter after the passage of the National Banking Act in 1863.
The bank can trace it's origins to the Pittsburgh Trust and Savings Company, which was founded in 1852. In 1858, the company constructed it's corporate offices at the corner of Fifth Avenue and Wood Street in downtown Pittsburgh. The bank changed it's name to First National Bank of Pittsburgh in 1863. Two additional floors were eventually added to the building.
In late-1890s, First National Bank of Pittsburgh moved into a new headquarters building, constructed at Fifth and Wood, where the original bank had stood. At the dawn of the 20th century it was decided to expand the building.
A twenty-six story skyscraper rose from the roof of the First National building. When completed in 1902, it had reached a height of 344 feet, making it the tallest building in the City of Pittsburgh. It held that honor until 1910, when the Oliver Building rose to 347 feet and claimed the top spot.
Through a series of mergers and acquisitions, the First National Bank of Pittsburgh evolved first into Pittsburgh National Corporation, in 1959, and PNC Financial Corporation, in 1982. Today, PNC Financial is one of the ten largest banks in the United States. The corporation is still based here in Pittsburgh, Pennsylvania.
The First National Bank Building remained the headquarters of Pittsburgh National Bank until 1970, when the building was completely demolished. In it's place rose the 30-story One PNC Plaza building, still located at Fifth Avenue and Wood Street, which opened in 1972.
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