PNC BANK INVESTS $20 MILLION IN LOCAL INITIATIVES SUPPORT CORPORATION TO FUEL GROWTH IN UNDER-RESOURCED COMMUNITIES NATIONWIDE [Yahoo! Finance]
PNC Financial Services Group, Inc. (The) (PNC)
Last pnc financial services group, inc. (the) earnings: 4/15 06:41 am
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Source: Yahoo! Finance
NEW YORK March 28, 2024 /PRNewswire/ -- PNC Bank has invested $20 million in the Local Initiatives Support Corporation (LISC) to expand the organization's efforts to boost economic opportunity and growth in thousands of rural counties as well as across 38 metro areas in the United States PNC Bank's funding includes both a 10-year, $10 million Equity Equivalent (EQ2) investment as well as a more flexible $10 million three-year term loan. EQ2 is an innovative debt tool that offers nonprofit community development financial institutions (CDFIs) like LISC the chance to raise capital with features that are similar to an equity investment. "We continue to see that patient, flexible and risk tolerant EQ2 financing has become an increasingly important lever for community lenders to attract additional private capital into under-resourced communities," said Rey Ocañas, managing director, PNC Community Development Banking. "With this 10-year commitment, PNC remains laser-focused on our effor
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News
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PNC
Earnings
- 4/16/24 - Beat
PNC
Sec Filings
- 4/26/24 - Form 4
- 4/26/24 - Form 4
- 4/26/24 - Form 4
- PNC's page on the SEC website