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

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Contents

Contractual Maturity of Debt Securities

The following table presents, by remaining contractual maturity, the amortized cost, fair value and weighted-average yield of debt securities at December 31, 2023:

Table 38: Contractual Maturity of Debt Securities

1 Year orLess · After 1 Yearthrough 5 Years · After 5 Yearsthrough 10 Years · After 10Years · Total
Dollars in millions
Securities Available for Sale
U.S. Treasury and government agencies	$2,055		$2,968			$461			$2,112			$7,596
Residential mortgage-backed
Agency	1		210			3,766			26,666			30,643
Non-agency				12			573			585
Commercial mortgage-backed
Agency	31		576			718			355			1,680
Non-agency	1		106			118			688			913
Asset-backed			273			171			648			1,092
Other	279		2,093			321			151			2,844
Total securities available for sale at amortized cost	$2,367		$6,226			$5,567			$31,193			$45,353
Fair value	$2,309		$5,822			$5,265			$28,389			$41,785
Weighted-average yield, GAAP basis (a)	0.99%		2.32%			2.94%			3.12%			2.88%
Securities Held to Maturity
U.S. Treasury and government agencies	$8,177		$25,744			$1,711			$897			$36,529
Residential mortgage-backed
Agency		10			329			42,347			42,686
Non-agency						259			259
Commercial mortgage-backed
Agency		151			518			270			939
Non-agency	29		50					1,294			1,373
Asset-backed	2		1,689			2,269			1,930			5,890
Other	221		1,025			552			1,310			3,108
Total securities held to maturity at amortized cost	$8,429		$28,669			$5,379			$48,307			$90,784
Fair value	$8,299		$27,830			$5,232			$45,587			$86,948
Weighted-average yield, GAAP basis (a)	0.85%		1.55%			4.20%			2.92%			2.37%

(a) Weighted-average yields are based on amortized cost with effective yields weighted for the contractual maturity of each security. Actual maturities and yields may differ as certain securities may be prepaid.

At December 31, 2023, there were no securities of a single issuer, other than FNMA and FHLMC, that exceeded 10% of total shareholders’ equity. The FNMA and FHLMC investments had a total amortized cost of $37.3 billion and $32.1 billion and fair value of $34.6 billion and $30.0 billion, respectively.

The following table presents the fair value of securities that have been either pledged to or accepted from others to collateralize outstanding borrowings:

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