PNC Financial Services Group Inc. has completed its acquisition of BBVA USA Bancshares Inc., including its Alabama-based banking subsidiary BBVA USA. Through this transaction, PNC is now the fifth largest U.S. commercial banking organization with over $560 billion in assets, the bank said in a statement today.

PNC, which began opening retail branches in Greater Boston last year, now has a national franchise with retail customers and business clients in 29 of the top 30 largest markets in the U.S., the bank said.

“Our acquisition of BBVA USA accelerates our national expansion and positions us to increase shareholder value over time by bringing our industry-leading technology and innovative products and services to new markets and clients,” William S. Demchak, PNC’s chairman, president and chief executive officer, said in the statement. “We are grateful to our thousands of colleagues across the combined organization who have worked tirelessly to help achieve this major milestone. With a shared commitment to serving our customers and supporting the communities where we live and work, together we will build on this strong combination for years to come.”

As part of the acquisition process, PNC developed a Community Benefits Plan that will provide $88 billion in loans, investments, and other financial support to bolster economic opportunity for low- and moderate-income individuals and communities, people and communities of color, and other underserved individuals and communities. Investments will be made in all of PNC’s markets, including Greater Boston, over a four-year period beginning Jan. 1, 2022.