RBC has several buildings in the city, including a support center.
While employees said they weren't allowed to talk with ABC11 about the merger Monday, businesses around the RBC operations said they expect they'll feel it too.
"I'm sure it'll impact us. Our customers, our business, might be cut, therefore our hours might be cut, and we work on tips - that would probably be smaller," said Dawn Sherrod, a server at nearby Central Café.
And there's concern for the local economy.
"Obviously, 400 some jobs will take a lot of money out of the economy. There's nothing you can do quickly to replace that, so a lot of small businesses like Central Café and Bulluck's furniture will definitely feel the impact of it," said Bulluck's co-owner Russ Barnes.
Barnes and his wife said they are not only concerned about the immediate financial impact, but also the future.
"This is definitely very personal to us because we want Rocky Mount to be successful. We want our children to want to come back to Rocky Mount to start their family, to work in businesses here, and have successful careers that we've been able to do," Martha Barnes explained.
Russ said he and other companies are doing fairly well right now and may be able to capitalize on the cuts by hiring some who are being laid off.
"Obviously, there are a lot of great, qualified people at RBC and maybe we'll be able to find somebody more easily than before," he said.
PNC also said it will offer assistance such as resume writing and placement help to those who are being let go.