PNC FINANCIAL SERVICES GROUP INC
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
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FY2023 · Filed Feb 21, 2024
PNC$231.30+2.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Income Statement
| Year ended December 31 | |||
|---|---|---|---|
| In millions, except per share data | 2023 | 2022 | 2021 |
| Interest Income | |||
| Loans | $18,299 | $11,795 | $9,007 |
| Investment securities | 3,545 | 2,726 | 1,834 |
| Other | 2,464 | 915 | 293 |
| Total interest income | 24,308 | 15,436 | 11,134 |
| Interest Expense | |||
| Deposits | 6,609 | 1,267 | 126 |
| Borrowed funds | 3,783 | 1,155 | 361 |
| Total interest expense | 10,392 | 2,422 | 487 |
| Net interest income | 13,916 | 13,014 | 10,647 |
| Noninterest Income | |||
| Asset management and brokerage | 1,412 | 1,444 | 1,438 |
| Capital markets and advisory | 952 | 1,296 | 1,577 |
| Card and cash management | 2,733 | 2,633 | 2,398 |
| Lending and deposit services | 1,233 | 1,134 | 1,102 |
| Residential and commercial mortgage | 625 | 647 | 850 |
| Other | 619 | 952 | 1,199 |
| Total noninterest income | 7,574 | 8,106 | 8,564 |
| Total revenue | 21,490 | 21,120 | 19,211 |
| Provision For (Recapture of) Credit Losses | 742 | 477 | (779) |
| Noninterest Expense | |||
| Personnel | 7,428 | 7,244 | 7,141 |
| Occupancy | 982 | 992 | 940 |
| Equipment | 1,411 | 1,395 | 1,411 |
| Marketing | 350 | 355 | 319 |
| Other | 3,841 | 3,184 | 3,191 |
| Total noninterest expense | 14,012 | 13,170 | 13,002 |
| Income before income taxes and noncontrolling interests | 6,736 | 7,473 | 6,988 |
| Income taxes | 1,089 | 1,360 | 1,263 |
| Net income | 5,647 | 6,113 | 5,725 |
| Less: Net income attributable to noncontrolling interests | 69 | 72 | 51 |
| Preferred stock dividends | 417 | 301 | 233 |
| Preferred stock discount accretion and redemptions | 8 | 5 | 5 |
| Net income attributable to common shareholders | $5,153 | $5,735 | $5,436 |
| Earnings Per Common Share | |||
| Basic | $12.80 | $13.86 | $12.71 |
| Diluted | $12.79 | $13.85 | $12.70 |
| Average Common Shares Outstanding | |||
| Basic | 401 | 412 | 426 |
| Diluted | 401 | 412 | 426 |
See accompanying Notes To Consolidated Financial Statements.
The PNC Financial Services Group, Inc. –2023 Form 10-K 85
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