PNC Bank 2004 Annual Report Download - page 16

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AUTO SHOP’S GROWTH NO ACCIDENT
Al and Joyce Kollinger, owners of Kollinger Auto Body
Inc. just north of Pittsburgh, were not necessarily
looking for a new bank when PNC came calling a few
years ago.
A short time later, though, the Kollingers had moved all of their bank accounts
– business and personal – to PNC and had encouraged their children to switch
to PNC as well. Why? PNC offered an attractive way for the Kollingers, whose
business repairs approximately 125 vehicles per month, to consolidate three
outstanding loans and add a new term loan to finance the purchase of new
equipment. From there, the story is all about a relationship – PNC’s small
business representatives were in regular contact with the Kollingers, offering
the kind of trusted advice that owners of small businesses require.
Small businesses, large momentum
PNC serves thousands of small businesses like Kollinger Auto Body, and our
roster of clients is growing rapidly. In 2004, we added to our sales force by
hiring new representatives as well as charging branch managers with spending
more time calling on small business customers. Those efforts, coupled with
offers of free business checking, contributed to a 13 percent increase in small
business relationships during the year, which led to a significant increase in
deposits from this customer segment. And we realize further value by
growing relationships once business owners have opened an initial account;
for example, in 2004, small business loan production increased 65 percent
over 2003.
We anticipate further growth in the small business area as we push into
new markets and win more clients within our existing areas and product set.
We plan to expand the geographic reach of our Small Business Administration
lending business, and we plan to focus on specific high-growth industries,
including healthcare, where we have differentiating expertise.
14 2004 PNC Summary Annual Report
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At December 31