A bank with 2,700 branches in the United States, including here in the Valley, has announced that it will be increasing its minimum wage to $18 per hour.

PNC Bank says the raise represents a 20% increase from the bank’s current $15 minimum rate and will impact 20,000 employees when it goes into effect in November.

Executives say in addition to enhancing employees' financial wellness, the raise will help PNC attract and retain talent and strengthen the bank's competitive position in the marketplace.

"This isn't just a responsible move for the bank," said William S. Demchak, PNC's chairman, president, and chief executive officer. "This increase allows us to make a positive difference, leveraging the power of our resources to help all move forward financially."