$PNC

PNC FINANCIAL SERVICES GROUP, INC.

CIK:0000713676|SEC Filings

Consolidated Income Statement - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest Income
Loans	$ 4,986	$ 4,609	$ 9,778	$ 9,081
Investment securities	1,263	1,151	2,465	2,275
Other	445	510	895	1,044
Total interest income	6,694	6,270	13,138	12,400
Interest Expense
Deposits	1,682	1,845	3,417	3,653
Borrowed funds	905	870	1,653	1,716
Total interest expense	2,587	2,715	5,070	5,369
Net interest income	4,107	3,555	8,068	7,031
Noninterest Income
Asset management and brokerage	440	391	860	782
Capital markets and advisory	577	321	1,040	627
Card and cash management	772	737	1,510	1,429
Lending and deposit services	346	317	686	633
Residential and commercial mortgage	144	128	262	262
Other income
Gain on Visa shares exchange program	448	0	448	0
Securities gains (losses)	(139)	0	(111)	(2)
Other	180	212	277	351
Total other income	489	212	614	349
Total noninterest income	2,768	2,106	4,972	4,082
Total revenue	6,875	5,661	13,040	11,113
Provision For Credit Losses	191	254	401	473
Noninterest Expense
Personnel	2,273	1,889	4,379	3,779
Occupancy	252	235	514	480
Equipment	435	394	850	778
Marketing	110	99	197	184
Other	1,028	766	1,926	1,549
Total noninterest expense	4,098	3,383	7,866	6,770
Income before income taxes and noncontrolling interests	2,586	2,024	4,773	3,870
Income taxes	531	381	946	728
Net income	2,055	1,643	3,827	3,142
Less: Net income attributable to noncontrolling interests	15	16	27	34
Preferred stock dividends	85	83	158	154
Preferred stock discount accretion and redemptions	2	2	3	4
Net income attributable to common shareholders	$ 1,953	$ 1,542	$ 3,639	$ 2,950
Earnings Per Common Share
Basic (in dollars per share)	$ 4.82	$ 3.86	$ 8.95	$ 7.37
Diluted (in dollars per share)	$ 4.81	$ 3.85	$ 8.94	$ 7.37
Average Common Shares Outstanding
Basic (in shares)	403	397	404	398
Diluted (in shares)	403	397	404	398

Consolidated Statement of Cash Flows - USD ($)
$ in Millions

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Operating Activities

Net income

$ 3,827

$ 3,142

Adjustments to reconcile net income to net cash provided (used) by operating activities

Provision For Credit Losses

401

473

Depreciation, amortization and accretion

173

172

Deferred income taxes (benefit)

152

(58)

Net losses on sales of securities

111

Changes in fair value of mortgage servicing rights

185

328

Gain on Visa shares exchange program

(448)

Net change in

Trading securities and other short-term investments

(187)

(1,646)

Loans held for sale and related securitization activity

377

(955)

Other assets

(285)

1,782

Accrued expenses and other liabilities

(1,284)

(2,395)

Other operating activities, net

1,053

126

Net cash provided (used) by operating activities

4,075

971

Sales

Securities available-for-sale

11,977

1,331

Loans

403

293

Repayments/maturities

Securities available-for-sale

4,406

3,392

Securities held-to-maturity

6,582

6,843

Purchases

Securities available-for-sale

(13,672)

(9,045)

Securities held-to-maturity

(11,066)

(3,979)

Loans

(1,128)

(853)

Net change in federal funds sold and resale agreements

501

(188)

Other changes in loans, net

(20,490)

(9,812)

Net cash paid for acquisition

^[1]

(80)

Other investing activities, net

(3,079)

(670)

Net cash provided (used) by investing activities

(25,646)

(12,688)

Net change in

Noninterest-bearing deposits

(2,282)

613

Interest-bearing deposits

(11,862)

(654)

Federal funds purchased and repurchase agreements

(44)

(36)

Short-term Federal Home Loan Bank advances

4,000

Other borrowed funds

198

149

Sales/issuances

Federal Home Loan Bank advances

28,000

3,000

Senior debt

4,211

5,237

Subordinated debt

1,495

Common and treasury stock

Repayments/maturities

Federal Home Loan Bank advances

(6,000)

(7,000)

Senior debt

(4,250)

(2,750)

Subordinated debt

(71)

(700)

Acquisition of treasury stock

(1,418)

(598)

Preferred stock cash dividends paid

(158)

(154)

Common stock cash dividends paid

(1,387)

(1,281)

Other financing activities, net

137

Net cash provided (used) by financing activities

10,603

(4,140)

Net Increase (Decrease) In Cash, Cash Equivalents And Restricted Cash

(10,968)

(15,857)

Cash, cash equivalents and restricted cash at beginning of period

39,713

46,251

Cash, cash equivalents and restricted cash at end of period (b)

^[2]

28,745

30,394

Supplemental Disclosures (c)

Interest paid

^[3]

5,138

5,511

Leased assets obtained in exchange for new operating lease liabilities

^[3]

331

149

Non-cash Investing And Financing Items

Transfer from loans to loans held for sale, net

108

Transfer from loans to foreclosed assets

Common Stock, par value $5.00

Non-cash Investing And Financing Items

Common and Preferred stock issuances for acquisition

2,943

Preferred Stock

Non-cash Investing And Financing Items

Common and Preferred stock issuances for acquisition

$ 119

$ 0

[1]	Cash paid to acquire FirstBank was $1,238 million. The amount of $80 million represents the cash paid for the acquisition less $162 million in Cash and due from banks and $996 million in Interest-earning deposits with banks acquired from FirstBank. See Note 2 Acquisition Activity for more detailed information on the FirstBank acquisition.
[2]	Includes restricted cash at end of period of $882 million and $992 million for the six months ended June 30, 2026 and 2025, respectively
[3]	Disclosures of income taxes paid (net of refunds) are presented in the Income Taxes Note of our Form 10-K pursuant to our adoption of ASU 2023-09. See Note 1 Accounting Policies in our 2025 Form 10-K for additional information related to our adoption of this ASU.

Consolidated Balance Sheet - USD ($)
$ in Millions

Jun. 30, 2026

Dec. 31, 2025

Assets

Cash and due from banks

$ 5,951

$ 6,777

Interest-earning deposits with banks

22,794

32,936

Loans held for sale

^[1]

1,522

1,939

Investment securities – available-for-sale

71,100

68,135

Investment securities – held-to-maturity

78,406

70,105

Loans

^[1]

367,953

331,481

Allowance for loan and lease losses

(4,652)

(4,410)

Net loans

363,301

327,071

Equity investments

11,735

10,790

Mortgage servicing rights

3,801

3,659

Goodwill

13,317

10,959

Other

^[1]

44,107

41,201

Total assets

616,034

573,572

Deposits

Noninterest-bearing

99,356

91,748

Interest-bearing

^[2]

350,436

349,118

Total deposits

449,792

440,866

Borrowed funds

Federal Home Loan Bank advances

40,416

13,000

Senior debt

38,144

38,642

Subordinated debt

4,396

3,016

Other

^[2]

2,767

2,443

Total borrowed funds

85,723

57,101

Allowance for unfunded lending related commitments

809

818

Accrued expenses and other liabilities

^[2]

15,649

14,151

Total liabilities

551,973

512,936

Equity

Preferred stock

^[3]

Common stock ($5 par value, Authorized 800,000,000 shares, issued 557,291,838 and 543,497,966 shares)

2,786

2,717

Capital surplus

21,999

18,922

Retained earnings

65,518

63,266

Accumulated other comprehensive income (loss)

(4,120)

(3,408)

Common stock held in treasury at cost: 157,826,113 and 153,084,091 shares

(22,175)

(20,912)

Total shareholders’ equity

64,008

60,585

Noncontrolling interests

Total equity

64,061

60,636

Total liabilities and equity

$ 616,034

$ 573,572

[1]	Our consolidated assets included the following for which we have elected the fair value option: Loans held for sale of $1.3 billion, Loans held for investment of $1.1 billion and Other assets of $0.1 billion at June 30, 2026. Comparable amounts at December 31, 2025 were $1.7 billion, $1.1 billion and $0.2 billion, respectively.
[2]	Our consolidated liabilities included the following for which we have elected the fair value option: Interest-bearing deposits of $0.8 billion, Other borrowed funds of less than $0.1 billion and Other liabilities of $0.1 billion at June 30, 2026. Comparable amounts at December 31, 2025 were $3.6 billion, less than $0.1 billion and $0.1 billion, respectively.
[3]	Par value less than $0.5 million at each date.