Close the acquisition of BBVA USA Bancshares, Inc
Delivered by the deadline
AI-confirmed · human review in progress Independent AI checks agreed on primary SEC or regulator evidence. Records are now being reviewed by hand, starting with those our customers order.
- Announced
- 16 Nov 2020
- Due
- 30 Jun 2021
- Delivered
- 1 Jun 2021
- Deadline
- Met
- Late
- Not met
- Today
What the company said
“The transaction, which has been approved by both companies' boards of directors, is expected to close in mid-2021, subject to customary closing conditions, including regulatory approvals.”
What we found
Evidence strength A What the grades mean
A later 10-Q states PNC acquired BBVA, including BBVA USA, on June 1, 2021, before the mid-2021 deadline.
-
A PNC Financial Services 10-Q filed 2021-08-06
“as a result of the acquisition of BBVA USA by PNC, a Category III banking organization under the Federal Reserve’s Enhanced Prudential Standards, BBVA USA is now a Category III bank.” ✓ confirmed on the page
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A PNC Financial Services 10-Q filed 2022-05-04
“On June 1, 2021, PNC acquired BBVA including its U.S. banking subsidiary, BBVA USA, for $11.5 billion in cash.” ✓ confirmed on the page
Market reaction: the shares moved -0.6% against the S&P 500 over the three sessions around the disclosure (3 May 2022 to 6 May 2022). What this measures
Checked 11 Oct 2026.
Commitment lineage
Every time the company restated this commitment. The original is never changed, and the outcome is always measured against version 1.
- Deadline drift -29 days
- 3 versions
-
Version 1 · original · stated 16 Nov 2020
Deadline 30 Jun 2021 (“in mid-2021”) · wording expected
-
Version 2 · stated 15 Jan 2021
Deadline 31 Dec 2021 (“in mid-2021”) · wording expected
“The transaction is expected to close in mid-2021 and will increase PNC's total assets by an estimated $102 billion”
-
Version 3 · stated 17 May 2021
Deadline 1 Jun 2021 (“June 1, 2021”) · wording expected
“The acquisition is anticipated to close June 1, 2021, pending satisfaction of customary closing conditions.”
Commitment DNA
The structured record of this commitment. Fields the company did not state are left blank rather than guessed.
- Event type
- Acquisition close
- Indicative materiality
- High rules
- Action
- Close
- Deliverable
- Acquisition of BBVA USA Bancshares, Inc.
- Language
- Expected (“expects”, “plans”)
- In the company’s control
- Low
- Specificity
- Medium
- Conditional
- Yes: subject to customary closing conditions; subject to regulatory approvals
- Depends on
- Regulatory, Government
How this entry was checked
- Commitment recordedThe company's words were matched word for word against the filing.
- First checkAn AI model, Claude (Anthropic), read the company's later filings and recorded the outcome with a quoted passage.
- Second check: agreesA different AI model, Gemini (Google), re-read the evidence without being told the outcome and reached the same answer.
Confirmed. This outcome counts towards the company's Kept Score. How verification works
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Report an error in this entry Reference: KI-C-2020-PNC-007008 · Corrections policy