Pnc Financial Services Group, Inc. (the) · NYSE:PNC
Pnc Financial Services Group, Inc. (the) — Q2 2026 Earnings Presentation
25 slides from Pnc Financial Services Group, Inc. (the)'s earnings presentation, Jul 15, 2026
Slide 1: Second Quarter 2026 Earnings Conference Call
Second Quarter 2026 Earnings Conference Call July 15, 2026
Slide 2: Cautionary Statement
Cautionary Statement Regarding Forward-Looking and non-GAAP Financial Information Our earnings conference call presentation is not intended as a full business or financial review and should be viewed in the context of all of the information made available by PNC in its SEC filings and on our corpora
Slide 3: Delivered Strong Second Quarter 2026 Results
Delivered Strong Second Quarter 2026 Results Net Income of $2.1 billion, or $4.81 Diluted Earnings per Share (EPS) Solid loan growth driven by new production and higher utilization 2Q26 Financial Highlights Record revenue, net interest income and fee income $4.85 Adjusted Diluted EPS (non-GAAP)
Slide 4: Loan and Security Growth Drove Balance Sheet Expansion
Loan and Security Growth Drove Balance Sheet Expansion Balance Sheet Summary Linked Quarter Year over Year Average balances, $ billions 2Q26 $ % $ % Total loans $363.2 $12.3 4% $40.4 13% Investment securities $147.1 $2.6 2% $5.2 4% Federal Reserve Bank balances $29.9 $(1.9) (6)% $(0.9) (3)% Total de
Slide 5: Higher Loan Balances Driven by C&I Growth
Higher Loan Balances Driven by C&I Growth Consolidated Average Loan Balances Average Loan Roll-Forward Average loans increased 4% LQ and 13% YoY $363 $351 $12.4 $0.7 $363.2 $323 $224 $211 $(0.7) $192 C&I: +6% LQ and $350.9 +17% YoY Average balances, $ billions 5.70% 5.50% 5.47% $ billions $34 $35 CR
Slide 6: Deposit Balances Stable; NIB Deposits Grew 4%, Rate Paid Declined 5 bps
Deposit Balances Stable; NIB Deposits Grew 4%, Rate Paid Declined 5 bps Consolidated Average Deposit Balances Average Commercial Deposits Interest-Bearing Noninterest-Bearing $458 $457 Total Deposits stable LQ and +8% YoY $155 $423 $150 $78 $359 $354 $74 $134 $72 $330 $ billions IB Deposits (2)% LQ
Slide 7: 2Q26 Integration Costs and Significant Items Reduced Reported EPS by $0.04
2Q26 Integration Costs and Significant Items Reduced Reported EPS by $0.04 Reported 2Q26 Integration Costs and Significant Items As Adjusted Significant Items Detail Integration Significant Net $ in millions $ millions, except EPS 2Q26 2Q26 Costs Items Impact (a) (b) (c) (d) = (b) + (c) (e) = (a) –
Slide 8: Strong Operating Performance Delivered Double Digit PPNR and EPS Growth
Strong Operating Performance Delivered Double Digit PPNR and EPS Growth Income Statement Summary 2Q26 vs. 1Q26 2Q26 vs. 2Q25 $ millions except EPS 2Q26 $ % $ % Net interest income $4,107 $146 4% $552 16% Noninterest income Includes $(6) million of integration costs 2,768 564 26% 662 31% and $224 mil
Slide 9: Revenue Growth Across All Categories Reflects Strength of Franchise
Revenue Growth Across All Categories Reflects Strength of Franchise Total Revenue Detail of Noninterest Income Net Interest Income Fee Income (non-GAAP) 2Q26 vs. 1Q26 2Q26 vs. 2Q25 Net Interest Margin Other Noninterest Income $ millions 2Q26 $ % $ % Includes $(6) million of integration costs and $22
Slide 10: Expenses Remain Well-Controlled and Aligned with Business Activity
Expenses Remain Well-Controlled and Aligned with Business Activity Noninterest Expense Detail of Noninterest Expense Noninterest expense, Integration Costs and 2Q26 vs. 1Q26 2Q26 vs. 2Q25 as adj. (non-GAAP) 2Q Significant Items $ millions 2Q26 $ % $ % Personnel $2,273 $167 8% $384 20% $4,098 $3,768
Slide 11: Strong Credit Quality
Strong Credit Quality Nonperforming Loans (NPLs) Credit Quality Metrics 2Q25 1Q26 2Q26 Commercial Consumer NPLs / Total Loans (Period end) 0.65% 0.62% 0.55% Delinquencies / Total Loans1 (Period end) 0.40% 0.43% 0.39% NCOs / Average Loans2 0.25% 0.29% 0.25% $2,243 Allowance for Credit Losses to Total
Slide 12: Full Year 2026 Outlook
Full Year 2026 Outlook Previous Current FY26 Guidance FY26 Guidance1,2,3 Average loans: Up ~ 11% Up ~12.5% (FY25 baseline: $323.4 billion) Net interest income: Up ~ 14.5% Up 15% - 15.5% (FY25 baseline: $14,410 million) Noninterest income: Up ~ 6% Up ~9% (FY25 baseline: $8,689 million) Excludes integ
Slide 13: Third Quarter 2026 Outlook
Third Quarter 2026 Outlook Third Quarter 2026 Guidance1,2,3 Average loans: Up 1% - 2% (2Q26 baseline: $363.2 billion) Net interest income: Up 3% - 3.5% (2Q26 baseline: $4,107 million) Fee income (non-GAAP): Down 5% - 5.5% (2Q26 baseline: $2,279 million) Other noninterest income: $150 to $200 million
Slide 14: Appendix: Cautionary Statement
Appendix: Cautionary Statement Regarding Forward-Looking Information We make statements in this presentation, and we may from time to time make other statements, regarding our outlook for financial performance, such as earnings, revenues, expenses, tax rates, capital and liquidity levels and ratios,
Slide 15: Appendix: Cautionary Statement
Appendix: Cautionary Statement Regarding Forward-Looking Information Our forward-looking financial statements are subject to the risk that economic and financial market conditions will be substantially different than those we are currently expecting. These statements are based on our views that: −
Slide 16: Appendix: Cautionary Statement
Appendix: Cautionary Statement Regarding Forward-Looking Information Business and operating results are affected by our ability to identify and effectively manage risks inherent in our businesses, including, where appropriate, through effective use of systems and controls, third-party insurance, d
Slide 17: Appendix: Receive Fixed Swaps and Portfolio Runoff
Appendix: Receive Fixed Swaps and Portfolio Runoff Receive Fixed Swaps Cumulative Projected Runoff2 19% of securities and swap portfolio projected to runoff through 2027 $78 $78 $- $13 $16 $(10) $56 $65 (4)% $63 $16 (6)% $(20) Spot notional; $ billions (8)% $ billions $40 (11)% $(30) 3.76% (14)% 3.6
Slide 18: Appendix: Non-GAAP to GAAP Reconciliation
Appendix: Non-GAAP to GAAP Reconciliation Fee Income (non-GAAP) For the three months ended For the six months ended $ millions Jun. 30, 2026 Mar. 31, 2026 Jun. 30, 2025 Jun. 30, 2026 Jun. 30, 2025 Noninterest income Asset management and brokerage $440 $420 $391 $860 $782 Capital markets and advisory
Slide 19: Appendix: Non-GAAP to GAAP Reconciliation
Appendix: Non-GAAP to GAAP Reconciliation Financial Metrics Adjusted for Integration Costs and 2Q26 Significant Items For the three months ended June 30, 2026 For the three months ended March 31, 2026 Integration Costs & As Adjusted, As Adjusted, Reported Significant Items non-GAAP Reported Integrat
Slide 20: Appendix: Non-GAAP to GAAP Reconciliation
Appendix: Non-GAAP to GAAP Reconciliation Taxable-Equivalent Net Interest Income (non-GAAP) For the three months ended For the six months ended $ millions Jun. 30, 2026 Mar. 31, 2026 Jun. 30, 2025 Jun. 30, 2026 Jun. 30, 2025 Net interest income $4,107 $3,961 $3,555 $8,068 $7,031 Taxable-equivalent a
Slide 21: Appendix: Non-GAAP to GAAP Reconciliation
Appendix: Non-GAAP to GAAP Reconciliation Tangible Book Value per Common Share (non-GAAP) For the three months ended $ millions, except per share data Jun. 30, 2026 Mar. 31, 2026 Jun. 30, 2025 Book value per common share $145.52 $143.65 $131.61 Tangible book value per common share Common shareholder
Slide 22: Appendix: Non-GAAP to GAAP Reconciliation
Appendix: Non-GAAP to GAAP Reconciliation Tangible Common Equity Ratio (non-GAAP) For the three months ended $ millions Jun. 30, 2026 Mar. 31, 2026 Jun. 30, 2025 Tangible common shareholders’ equity Common shareholders’ equity $58,131 $57,752 $51,854 Goodwill and other intangible assets (14,161) (14
Slide 23: Appendix: Non-GAAP to GAAP Reconciliation
Appendix: Non-GAAP to GAAP Reconciliation Return On Average Tangible Common Equity (non-GAAP) For the three months ended $ millions Jun. 30, 2026 Mar. 31, 2026 Jun. 30, 2025 Return on average common shareholders’ equity 13.61% 11.92% 12.20% Average common shareholders’ equity $57,556 $57,382 $50,676
Slide 24: Appendix: Preferred Dividends
Appendix: Preferred Dividends Preferred Dividends For the three months ended For the year ended $ millions Mar. 31, 2026 Jun. 30, 2026 Sep. 30, 2026 Dec. 31, 2026 Dec. 31, 2026 Preferred dividends $73 $86 $73 $99 $330 The above represents our current estimate for preferred dividends in 2026 for curr
Slide 25: Earnings Presentation Footnotes
Earnings Presentation Footnotes Slide 4 – Loan and Security Growth Drive Balance Sheet Expansion 1. Basel III common equity Tier (CET) 1 capital ratio – 6/30/26 ratio as used in this presentation is estimated. Details of the calculation are in the financial highlights section of the earnings release
PNC Financial Services Group, Inc. (The) — Q2 2026 Earnings Presentation on 6ix