The Orlando Economic Partnership welcomes PNC Bank to the Corporate level of investment and as a sponsor of the Orlando Regional Chamber’s Women’s Initiative.
Shortly after PNC Bank established itself in the Orlando market back in 2011, Chad Loar joined PNC leading the commercial and corporate banking teams in the Orlando region and west Florida markets. It was a time of transformation for the company, as PNC was integrating two substantial acquisitions (National City and RBC) and smaller acquisitions over a three-year timespan. In 2016, Chad was promoted to Regional President, overseeing the entire bank’s growth and community engagement in the region.
“We needed to complete this integration and accelerate our technology in both the client-facing, back-office and security areas of the bank,” Loar says.
As a result of these multi-billion-dollar investments in technology, PNC’s digital platforms have been significantly enhanced and have become one of the most user-friendly financial technology platforms on the market, both on the front end user experience for its clients and on the backend for its employees.
“We view ourselves now as a leading technology financial institution more so than a traditional provider of bank services.”Chad Loar, Regional President, PNC Bank
“Our expansion model has not compromised the local operating model that has been long established, exemplifying a more decentralized, main street approach compared to most of our peers,” Loar says.
PNC’s local “Main Street” approach to sales distribution and community engagement has helped the bank become one of the largest domestic-based financial institutions in the county, counting more than 50 branches in the Orlando region alone. As a “Main Street” bank, PNC organizes business around individual customers and communities, recognizing the importance of developing local talent and committing to creating value for local shareholders.
The secret sauce to PNC’s successful operating model includes among other things, its focus on community-centric products and solutions through the bank’s retail, wealth and commercial lines of business with local teams.
“I relish the ability to influence and execute on decisions that impact our local communities, such as the millions of dollars we have invested here in Central Florida through grants, sponsorships and most recently, charitable contributions for COVID-19 relief efforts,” Loar says. “I really enjoy our localized approach to business, our open-dialogue with our employees, and across the board how we care for our clients.”
Loar is the ultimate believer in the philosophy of the way to make shareholders and clients happy, starts with making employees happy. The Central Florida market is consistently ranked in the highest percentile of employee engagement and client satisfaction at PNC.
“We have a ‘get-it-done’ collaborative approach that enables care and empathy for our teammates.”Chad Loar, Regional President, PNC Bank
“We are family-focused and diverse with a greater sense of informality than perhaps other financial institutions I have worked for in the past,” Loar says.
PNC’s level of employee engagement and commitment to culture was exemplified in the bank’s response to the COVID-19 pandemic. Thousands of PNC employees dedicated time and energy above and beyond what was expected of them to process Payroll Protection Program loans to ensure businesses received the assistance they deserve.
PNC ranks among the top lenders to register applications – nearly 74,000 applications totaling nearly $14 billion. Locally, PNC registered nearly 5,400 PPP loans with the SBA on behalf of small business customers in Florida, totaling nearly $900 million.
Loar says he was floored by “the sheer tenacity of our employees and their dedication to controlling what they can, completing the task at hand, and working together to accomplish great things — the sheer ‘want and willingness,’ and overall team collaboration.”
PNC continually gives back to communities where its employees live and work. The bank’s commitment to Central Florida has never been more important as the community collectively navigates the challenges posed by the pandemic.
“As a bank, we recognize our role as a pillar of the communities we serve, and we are actively working with several local organizations to help those affected by providing a variety of solutions that make the most sense for meeting their particular needs,” Loar says.
For instance, at the beginning of the Coronavirus pandemic, PNC awarded $30 million for relief efforts in its 40 markets across the U.S. Locally, nearly $350,000 has been awarded throughout the region to charitable organizations such as United Way, YMCA, Second Harvest Food Bank and Goodwill to help supply meals, masks, new programs, transportation and other essential services that have arisen due to COVID-19.
Outside of the current circumstances, PNC’s signature philanthropic initiative, PNC Grow Up Great, is focused on supporting early childhood education. The $500 million, multi-year, bilingual initiative began in 2004 to help prepare children from birth to age five for success in school and life. As part of this initiative, the PNC Foundation has ear-marked funds for grants to nonprofit organizations that work to improve school readiness by providing support in areas such as vocabulary development, social-emotional learning, math, science and the arts.
“By focusing our support on high-quality early childhood education, we aim to positively impact school readiness and contribute to stronger, smarter and healthier children, families and communities.”Chad Loar, Regional President, PNC Bank
Apart from Grow Up Great, PNC’s philanthropy also focuses on the arts. “We know the impact that art can make, how it changes perspectives and even changes lives,” Loar says. “Engagement in the arts enriches lives and builds stronger, more vibrant communities.”
In many cases, PNC was able to meld these programs together, providing educational programming to children, while at the same time, providing families access to our region’s world-class facilities, such as the Orlando Science Center and the Dr. Phillips Center. These programs have shown early success, by helping to support better kindergarten readiness scores and creating memorable experiences for children and parents alike.
“We encourage our employees to volunteer through these initiatives,” Loar says. “The joy that our team expresses and feedback they receive in helping a child learn a new skill demonstrates the impact we are making in this community.”
For PNC, broad-based prosperity means equal opportunities for all, especially for children. Loar says it’s why PNC founded our Grow up Great initiative more than 16 years ago.
“We must do more to help provide education, food, shelter and guidance for children of all races and backgrounds. I believe this is the catalyst for an individual’s path to prosperity.”Chad Loar, Regional President, PNC Bank
Looking beyond the pandemic, with respect to the Orlando region and the west coast of Florida, Loar sees PNC continuing to build its brand and expanding its presence while adhering to its “Main Street” operating model. For the company as a whole, its focus will remain on both internal growth and external growth, continuing its geographical expansion west of the Mississippi.
“I’m proud of our keen focus on both our internal growth and potential external growth. We now have a presence in 40 states, so that’s pretty exciting,” Loar says. “PNC’s capital levels and metrics are the strongest they’ve been in the history of our company. Next year will be our tenth year in Orlando, so we are here to stay. I am honored to be the president for Orlando and all of Central Florida as this area will continue to grow. While we may be taking a punch in the gut right now, our area will flourish long term. This is where individuals and businesses want to be.”
Thank you to PNC Bank for its investment in the economic and community development efforts of the Orlando Economic Partnership and its support for promoting broad-based prosperity for the region.