PNC Bank 2004 Annual Report Download - page 5

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We have built a powerful engine for
growth. Now our challenge, both simple
and complex, is execution.
Strength across businesses
Across all of our business segments, 2004 was a year of progress and growth.
In the community bank, an eight percent increase in checking account
relationships – the keystone of broader customer relationships – significantly
outpaced the population growth of our primary banking region, and our
renewed emphasis on small business banking produced exceptional results.
We charged branch managers to call on more small business prospects and
added more dedicated sales people, which contributed to a 13 percent increase
in relationships and a 65 percent increase in small business loan production.
The wholesale business experienced dramatic improvements in asset quality,
leading to a significantly reduced provision, and made substantial gains across
customer segments. Several fee-based products within Wholesale produced
strong growth, including record revenues from Midland Loan Services.
James E. Rohr
Chairman and
Chief Executive Officer
(right)
Joseph C. Guyaux
President
(center)
William S. Demchak
Vice Chairman and
Chief Financial Officer
(left)