Texas border affairs
PITTSBURGH, PA, – PNC Bank today announced that Cathy Niederberger, Director of Community Development Banking, will retire in early 2022, after a 25-year career with the bank. Reymundo “Rey” Ocañas, who is currently the South West Territory executive for PNC’s community development banking services, will assume leadership of the community development banking function for PNC in January 2022. Prior to joining PNC , Ocañas was Director of Communications and Responsible Affairs at BBVA. UNITED STATES.
“Our community development banking team is dedicated to improving low and moderate income communities, as well as the residents and businesses within them,” said Richard Bynum, director of corporate responsibility at PNC. “Under Cathy’s leadership over the past 13 years, the team has been very successful in providing loan, investment and financial education services in support of affordable housing, small business, community services. and neighborhood revitalization. ”
Niederberger was instrumental in shaping PNC’s $ 88 billion four-year community benefits plan, announced in March 2021, as part of the BBVA USA acquisition. Through this plan, PNC will provide $ 47 billion in residential mortgages and home equity loans; $ 26.5 billion in small business loans; $ 14.5 billion in community development loans, including at least $ 400 million for community development financial institutions; and $ 500 million in charitable donations, sponsorships and philanthropic grants. This plan was developed after PNC organized community listening sessions with the National Community Reinvestment Coalition, National Diversity Coalition, Greenlining Coalition, California Reinvestment Coalition, Faith and Community Empowerment and members of their respective organizations.
“I am grateful to PNC for giving me the opportunity to lead our community development banking team and their commitment to improving the quality of life in low and moderate income neighborhoods through financial education, consumer programs and loans and investments for community development, ”Niederberger said. “From small, high-impact efforts to large real estate developments, we have helped transform the look and feel of certain neighborhoods. I have the greatest confidence that Rey will continue in this tradition, including focusing on initiatives that support our commitment to racial equity. “
When Ocañas assumes the leadership of the Community Development Bank, he will be responsible for ensuring that the PNC is ready to launch the Community Benefits Plan, which begins in January 2022 and continues for four years. “Rey will provide critical leadership in directing community development banking services, working with tax credit solutions, public finance and other business teams, to increase our engagement with local communities on all of our markets and identify impactful development initiatives in support of our economic empowerment. efforts, ”Bynum said.
“I look forward to working with the Community Development Banking Services team to reinforce PNC’s long-standing commitment to generating ARC-eligible community development loans and investments, as well as recent commitments to fight against systemic racism through the deployment of capital and programs that offer economic opportunities to all individuals. and the communities we serve, ”Ocañas said. “I am grateful to Cathy for developing such an impactful team, and I am excited to build on her success and implement the Community Benefits Plan going forward. “
PNC Bank has consistently achieved an overall Community Reinvestment Act “Outstanding” rating in every performance review published since the CRA’s enactment over 40 years ago.
PNC Bank, National Association, is a member of PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its clients and communities for strong relationships and local delivery of personal and business banking services, including a full range of loan products; specialized services for businesses and government entities, including business banking, real estate financing and asset-backed loans; wealth management and asset management. For more information on PNC, visit www.pnc.com.