Elizabeth officials can’t persuade PNC

By Christine Haines

chaines@yourmvi.com

Elizabeth Borough officials met recently with representatives from PNC Bank, but didn’t get the news they were hoping to hear.

The borough is trying to convince the bank to keep its downtown Elizabeth branch open. It is slated to close permanently on Dec. 4.

“We met with them, It didn’t go the way I wanted,” said Councilman Andy Miklos.

Miklos said PNC has been tracking foot traffic at the bank for approximately 10 years and has seen a 40% decrease in business. 

The bank is also able to track which surrounding branches traditional Elizabeth customers use instead of going into the downtown office and made the decision to close based on those reports.

“They had wanted to put a drive-thru in, but the layout wasn’t conducive,” Miklios said. “With direct deposit of Social Security, seniors aren’t going into the banks. Electronic banking has had an effect on it. They can’t afford to keep the bank where it’s at. They’ve already had two inquiries about the bank.”

Miklos said he asked about the bank’s parking lot for borough use, but was told it is considered an asset for marketing the property, which PNC intends to list with a real estate agent after it closes.

“I don’t think they’re eager to sell it to another bank,” Miklos said.

Council members discussed the possibility of the building being sold to someone interested in developing a business on the ground floor and apartments on the upper floor, which would generate activity in the downtown area.

“They want it to be something that brings revenue to the borough,” said Councilwoman Cynthia Morris. “They said they wanted to work with us and support our development, but they aren’t going to keep a bricks-and-mortar bank here, so we need a drive-thru.”

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