PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 as Adjusted
Generated record revenue, net interest income and fee income Increased quarterly common stock dividend 30 cents, or 18%, to $2.00 per share PITTSBURGH, July 15, 2026 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today reported: For the quarter In millions, except per share data and as noted 2Q26 1Q26 2Q25 Second Quarter Highlights Financial Results Comparisons reflect 2Q26 vs. 1Q26 Net interest income (NII) $ 4,107 $ 3,961 $ 3,555 Income Statement Adjusted EPS was $4.85 which excludes the net impact of FirstBank integration costs and 2Q26significant items, resulting in a 4 cent reduction to EPS Generated 3% positive operating leverage; PPNR increased 16%; ROTCE of 17.9% NII increased 4%; NIM of 2.96% increased 1 bp Fee income increased 10%, driven by strong capital markets activity Noninterest expense of $4.1 billion included $140 million of PNC Foundation contribution expense, $121 million of integration expenses and the impact of increased business activity Balance Sheet Average loans increased $12.3 billion, or 4% Average deposits were stable Average noninterest-bearing deposits grew 4% Rate paid on interest-bearing deposits declined 5 basis points Net loan charge-offs were $226 million, or 0.25% annualized to average loans Maintained strong capital position CET1 capital ratio of 9.9% Returned $1.3 billion to shareholders, including $0.6 billion of share repurchases Increased quarterly common stock dividend 30 cents, or 18% to $2.00 per share Converted FirstBank customers, employees, systems and branches as of June 22, 2026 Fee income (non-GAAP) 2,279 2,079 1,894 Other noninterest income 489 125 212 Noninterest income 2,768 2,204 2,106 Revenue 6,875 6,165 5,661 Noninterest expense 4,098 3,768 3,383 Pretax, pre-provision earnings (PPNR) (non-GAAP) 2,777 2,397 2,278 Provision for credit losses 191 210 254 Net income 2,055 1,772 1,643 Per Common Share Diluted earnings per share (EPS) $ 4.81 $ 4.13 $ 3.85 EPS impact of integration costs and 2Q26 significant items 0.04 0.19 — Diluted EPS - as adjusted (non-GAAP) 4.85 4.32 3.85 Average diluted common shares outstanding 403 405 397 Book value 145.52 143.65 131.61 Tangible book value (TBV) (non-GAAP) 111.09 109.42 103.96 Balance Sheet & Credit Quality Average loans In billions $ 363.2 $ 350.9 $ 322.8 Noninterest-bearing deposits In billions 103.5 99.1 93.1 Interest-bearing deposits In billions 353.5 359.3 329.8 Average deposits In billions 457.0 458.4 423.0 Accumulated other comprehensive income (loss) (AOCI) In billions (4.1) (3.8) (4.7) Net loan charge-offs 226 253 198 Allowance for credit losses to total loans 1.48 % 1.52 % 1.62 % Selected Ratios Return on average common shareholders' equity 13.61 % 11.92 % 12.20 % Return on avg.
PNC - The PNC Financial Services Group, Inc.
