Financial reports / The PNC Financial Services Group, Inc. | Tables in SEC filings

PNC The PNC Financial Services Group, Inc.

Quarterly report

(Unaudited)

Nine months ended September 30

Change

Dollars in millions, except as noted

2024

2023

Income Statement

Net interest income

4,724

4,214

510

Noninterest income

2,860

2,542

318

Total revenue

7,584

6,756

828

Provision for credit losses

409

283

126

Noninterest expense

2,783

2,755

Pretax earnings

4,392

3,718

674

Income taxes

1,013

867

146

Noncontrolling interests

—

Earnings

3,364

2,836

528

Average Balance Sheet

Loans held for sale

234

392

(158)

(40)

Loans

Commercial

Commercial and industrial

163,156

165,987

(2,831)

(2)

Commercial real estate

34,437

34,534

(97)

—

Equipment lease financing

6,496

6,419

Total commercial

204,089

206,940

(2,851)

(1)

Consumer

(3)

(50)

Total loans

204,092

206,946

(2,854)

(1)

Total assets

228,518

232,914

(4,396)

(2)

Deposits

Noninterest-bearing

42,068

52,829

(10,761)

(20)

Interest-bearing

100,824

89,845

10,979

Total deposits

142,892

142,674

218

—

Performance Ratios

Return on average assets

1.97

1.63

Noninterest income to total revenue

Efficiency

Other Information

Consolidated revenue from: (a)

Treasury Management (b)

2,864

2,412

452

Commercial mortgage banking activities:

Commercial mortgage loans held for sale (c)

(14)

(25)

Commercial mortgage loan servicing income (d)

241

126

115

Commercial mortgage servicing rights valuation, net of economic hedge

108

Total

392

282

110

Commercial mortgage servicing statistics

Serviced portfolio balance (in billions) (e) (f)

289

282

MSR asset value (e)

975

1,169

(194)

(17)

Average loans by C&IB business

Corporate Banking

116,537

116,777

(240)

—

Real Estate

46,258

47,407

(1,149)

(2)

Business Credit

29,470

30,230

(760)

(3)

Commercial Banking

7,503

8,170

(667)

(8)

Other

4,324

4,362

(38)

(1)

Total average loans

204,092

206,946

(2,854)

(1)

Credit-related statistics

Nonperforming assets (e)

1,624

1,130

494

Net charge-offs - loans and leases

384

190

194

102

	September 30, 2024		December 31, 2023			Change
Dollars in millions									$		%
Nonperforming loans
Commercial		$	1,729	$	1,307	$	422	32	%
Consumer (a)		849		873	(24)	(3)	%
Total nonperforming loans		2,578		2,180	398	18	%
OREO and foreclosed assets		31		36	(5)	(14)	%
Total nonperforming assets		$	2,609	$	2,216	$	393	18	%
Nonperforming loans to total loans		0.80		%	0.68		%	Nonperforming assets to total loans, OREO and foreclosed assets		0.81		%	0.69	%	Nonperforming assets to total assets	0.46	%	0.39	%	Allowance for loan and lease losses to nonperforming loans	178	%	220	%
Allowance for credit losses to nonperforming loans (b)		206		%	250		%

Dollars in millions	September 30, 2024					December 31, 2023
Fair value		$	2,528	$	2,654
Weighted-average life (years)		7.8			8.1
Weighted-average constant prepayment rate		7.21		%	6.42			%	Decline in fair value from 10% adverse change	$	61	$	60
Decline in fair value from 20% adverse change		$	119	$	117
Weighted-average option adjusted spread		755		bps	765		bps
Decline in fair value from 10% adverse change		$	78	$	83
Decline in fair value from 20% adverse change		$	151	$	161

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