PNC Bank 2008 Annual Report Download - page 4

We remain committed to our employees and our communities. We believe that making investments to
attract and develop diverse and talented employees and grow the communities we serve is smart business.
We were honored by Fortune magazine as one of the most admired companies in America, and
BusinessWeek 50 included PNC on its list of top performing companies.
We believe we offer employees a good working environment, and we are pleased that others share that
view. In fact, BusinessWeek said PNC was one of the “Best Places to Launch a Career.” We ranked
among the “25 Noteworthy Companies for Diversity” by DiversityInc. We earned a place on the Working
Mother list of the “100 Best Companies for Working Mothers” for the seventh time.
We helped sustain the economic health of neighborhoods where we do business through community
development banking, investing more than $1 billion last year. Our efforts once again earned PNC the
highest possible rating of “outstanding” for our Community Reinvestment Act activities, which include
special loans, low-cost checking accounts and education for the financially disadvantaged.
We believe education lights the path to financial independence, which is why we launched PNC Grow Up
Great in 2004, a program that helps children from birth to five years of age prepare for school and life,
and made a $100 million commitment to it. In the past five years, our employees have logged more than
100,000 hours of volunteer service, and the program has produced measureable results in math and
science education. We were pleased to be recognized in 2008 by the Committee Encouraging Corporate
Philanthropy, and we look forward to launching PNC Grow Up Great in our expanded retail market
this year.
Our community commitment also includes the environment. PNC has more buildings certified by the U.S.
Green Building Council than any company on earth, with more to come. When Three PNC Plaza, located
at our Pittsburgh headquarters, opens in the third quarter of this year, it will be the largest mixed use
green building in the world. And in 2010, PNC Place will open in Washington, D.C., serving as a new,
green regional headquarters. We serve retail customers from more than 50 highly energy efficient Green
Branch®locations. We were pleased to be named as one of nine recipients of Sustainable Cities Award,
sponsored by The Financial Times and Urban Land Institute.
We Continue to Build a Great Company
We see the combination of National City and PNC as truly transformational. We completed this
significant acquisition in less than 70 days, the fastest close in our company’s history. Our integration
efforts are well under way with a focus on managing to an overall moderate risk profile, achieving cost
savings targets and successfully converting National City branch locations.
While we believe 2009 will be a challenging year for the financial services industry, we remain focused
on the importance of meeting our customers’ needs so they will continue to have confidence in PNC. To
do this, we will continue to prudently manage risk and expenses, maintain solid capital and liquidity
positions, and serve our customers, shareholders, employees and communities. We believe this is the
surest path to producing long-term value.
On behalf of everyone at PNC, I want to thank you for your continued trust. We value your belief in us as
we continue to build a great company.
Sincerely,
James E. Rohr
Chairman and Chief Executive Officer
For more information regarding certain factors that could cause future results to differ, possibly materially, from historical performance or from those
anticipated in forward-looking statements, see the Cautionary Statement in Item 7 of our 2008 Annual Report on Form 10-K, which accompanies
this letter.