Pnc Financial Services Group, Inc. (the) · NYSE:PNC
Pnc Financial Services Group, Inc. (the) — The PNC Financial Services Group — Q1 2026 Earnings Presentation
26 slides from Pnc Financial Services Group, Inc. (the)'s earnings presentation, Apr 15, 2026
Slide 1: First Quarter 2026 Earnings Conference Call
First Quarter 2026 Earnings Conference Call April 15, 2026
Slide 2: Cautionary Statement Regarding Forward-Looking and non-GAAP Financial Information
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 Solid First Quarter 2026 Results
Delivered Solid First Quarter 2026 Results Successfully closed FirstBank acquisition on 1/5/2026 1Q26 Financial Highlights +7% Strong legacy loan growth driven by new production and higher Average Loans utilization +2% Increased net interest income and net interest margin Total Revenue Expen
Slide 4: Larger Balance Sheet Reflects Strong Organic Growth and FirstBank Acquisition
Larger Balance Sheet Reflects Strong Organic Growth and FirstBank Acquisition Balance Sheet Summary Linked Quarter Year over Year Average balances, $ billions 1Q26 $ % $ % Total loans $350.9 $23.0 7% $34.3 11% Investment securities $144.5 $2.3 2% $2.3 2% Federal Reserve Bank balances $31.8 $0.5 2% $
Slide 5: Higher Loan Balances Driven by Legacy C&I Growth and FirstBank Acquisition
Higher Loan Balances Driven by Legacy C&I Growth and FirstBank Acquisition Consolidated Average Loan Balances Spot Loan Roll-Forward Average loans increased 7% LQ and 11% YoY 9% growth driven by FirstBank acquisition and legacy C&I growth $351 $328 $15.1 $0.1 $360.9 $317 $211 C&I: +6% LQ and $199 +1
Slide 6: Deposits Increased and Rate Paid Declined
Deposits Increased and Rate Paid Declined Consolidated Average Deposit Balances Average Deposit Roll-Forward Deposit balances increased 4% while rate paid declined 18 bps 4% growth driven by FirstBank acquisition offset by lower brokered CDs $458 $440 $21.9 $3.3 $421 $458.4 $359 $345 $(3.5) $(2.8) $
Slide 7: Strong Revenue Growth and Well-Controlled Expenses
Strong Revenue Growth and Well-Controlled Expenses Income Statement Summary Linked Quarter Year over Year $ millions except EPS 1Q26 $ % $ % Net interest income $3,961 $230 6% $485 14% Noninterest income 2,204 (136) (6)% 228 12% Total revenue $6,165 $94 2% $713 13% Noninterest expense 3,768 165 5% 3
Slide 8: Revenue Increased Driven by Higher Net Interest Income
Revenue Increased Driven by Higher Net Interest Income Total Revenue Detail of Revenue Net Interest Income Noninterest Income % Change Net Interest Margin $6,165 $ millions 1Q26 LQ YoY $6,071 $5,452 $2,340 $2,204 Net interest income $3,961 6% 14% $1,976 Asset management and brokerage 420 2% 7% Capit
Slide 9: Expenses Remain Well-Controlled
Expenses Remain Well-Controlled Noninterest Expense Detail of Noninterest Expense Noninterest expense, ex. Integration % Change integration expense (non-GAAP) expense $ millions 1Q26 LQ YoY $3,768 $3,603 $97 $3,387 $3,671 Personnel $2,106 4% 11% $3,603 $3,387 Occupancy 262 6% 7% Equipment 415 1% 8%
Slide 10: Strong Credit Quality
Strong Credit Quality Nonperforming Loans (NPLs) Credit Quality Metrics 1Q25 4Q25 1Q26 Commercial Consumer NPLs / Total Loans (Period end) 0.72% 0.67% 0.62% Delinquencies / Total Loans1 (Period end) 0.45% 0.44% 0.43% 0.24% ex. $45m NCOs / Average Loans2 0.26% 0.20% 0.29% of acquired NCOs Includes $8
Slide 11: Investor Area of Focus: Non-Depository Financial Institutions (NDFI) Loans
Investor Area of Focus: Non-Depository Financial Institutions (NDFI) Loans PNC Non-Depository Financial Institution (NDFI) Loans ~90% of loans are investment-grade Mortgage and Consumer $33 billion of Loans to Business Credit Intermediaries Credit Intermediaries (6%) Primarily multifamily agency war
Slide 12: Second Quarter 2026 Outlook
Second Quarter 2026 Outlook Second Quarter 2026 Guidance1,2 Average loans: Up 2% to 3% (1Q26 baseline: $350.9 billion) Net interest income: Up ~3% (1Q26 baseline: $3,961 million) Fee income (non-GAAP): Up ~2.5% (1Q26 baseline: $2,079 million) Other noninterest income: $150 to $200 million (1Q26: $12
Slide 13: Full Year 2026 Outlook
Full Year 2026 Outlook Including Impact of FirstBank Acquisition Previous FY26 Guidance Current FY26 Guidance1,2 Average loans: Up ~8% Up ~11% (FY25 baseline: $323.4 billion) Net interest income: Up ~14% Up ~14.5% (FY25 baseline: $14,410 million) Noninterest income: Up ~6% Up ~6% (FY25 baseline: $8,
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: Non-GAAP to GAAP Reconciliation
Appendix: Non-GAAP to GAAP Reconciliation Noninterest expense, ex. integration expense (non-GAAP) For the three months ended $ Change % Change $ millions Mar. 31, 2026 Dec. 31, 2025 Mar. 31, 2025 LQ YoY LQ YoY Total noninterest expense $3,768 $3,603 $3,387 $165 $381 5% 11% Integration expense (97) –
Slide 18: Non-GAAP to GAAP Reconciliation
Appendix: Non-GAAP to GAAP Reconciliation Pretax, Pre-Provision Earnings, ex. integration cost (non-GAAP) For the three months ended $ millions Mar. 31, 2026 Dec. 31, 2025 Mar. 31, 2025 Total revenue $6,165 $6,071 $5,452 Total noninterest expense 3,768 3,603 3,387 Pretax, Pre-Provision Earnings (non
Slide 19: Non-GAAP to GAAP Reconciliation
Appendix: Non-GAAP to GAAP Reconciliation Adjusted Diluted Earnings per Share (non-GAAP) For the three months ended $ millions, except per share Mar. 31, 2026 Per common share Net income attributable to diluted common shareholders $1,675 $4.13 Integration costs, after tax 77 0.19 Adjusted net income
Slide 20: Non-GAAP to GAAP Reconciliation
Appendix: Non-GAAP to GAAP Reconciliation Fee Income (non-GAAP) For the three months ended $ millions Mar. 31, 2026 Dec. 31, 2025 Mar. 31, 2025 Noninterest income Asset management and brokerage $420 $411 $391 Capital markets and advisory 463 489 306 Card and cash management 738 733 692 Lending and d
Slide 21: Non-GAAP to GAAP Reconciliation
Appendix: Non-GAAP to GAAP Reconciliation Taxable-Equivalent Net Interest Income (non-GAAP) For the three months ended $ millions Mar. 31, 2026 Dec. 31, 2025 Mar. 31, 2025 Net interest income $3,961 $3,731 $3,476 Taxable-equivalent adjustments 29 31 28 Taxable-Equivalent Net Interest Income (non-GAA
Slide 22: 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 Mar. 31, 2026 Dec. 31, 2025 Mar. 31, 2025 Book value per common share $143.65 $140.44 $127.98 Tangible book value per common share Common shareholder
Slide 23: Non-GAAP to GAAP Reconciliation
Appendix: Non-GAAP to GAAP Reconciliation Tangible Common Equity Ratio (non-GAAP) For the three months ended $ millions Mar. 31, 2026 Dec. 31, 2025 Mar. 31, 2025 Tangible common shareholders’ equity Common shareholders’ equity $57,752 $54,828 $50,654 Goodwill and other intangible assets (14,174) (11
Slide 24: 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 Mar. 31, 2026 Dec. 31, 2025 Mar. 31, 2025 Return on average common shareholders’ equity 11.92% 14.33% 11.60% Average common shareholders’ equity $57,382 $53,550 $49,217
Slide 25: 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 $98 $329 The above represents our current estimate for preferred dividends in 2026 for curr
Slide 26: Footnotes
Earnings Presentation Footnotes Slide 4 – Larger Balance Sheet Reflects Strong Organic Growth and FirstBank Acquisition 1. Basel III common equity Tier (CET) 1 capital ratio – 3/31/26 ratio as used in this presentation is estimated. Details of the calculation are in the financial highlights section
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