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
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Home Equity Loan Statistics
The following table presents certain key statistics related to our home equity portfolio:
Table 19: Home Equity Loan Statistics
| December 31, 2023 · December 31, 2022 | ||||||
|---|---|---|---|---|---|---|
| Dollars in millions · Amount · % of Total · Amount · % of Total | ||||||
| Geography (a) | ||||||
| Pennsylvania | $4,745 | 18% | $5,051 | 19% | ||
| New Jersey | 3,184 | 12 | 3,266 | 13 | ||
| Ohio | 2,242 | 9 | 2,352 | 9 | ||
| Florida | 2,230 | 9 | 2,082 | 8 | ||
| California | 1,580 | 6 | 1,247 | 5 | ||
| Maryland | 1,237 | 5 | 1,254 | 5 | ||
| Texas | 1,230 | 5 | 1,144 | 4 | ||
| Michigan | 1,214 | 5 | 1,263 | 5 | ||
| Illinois | 1,069 | 4 | 1,126 | 4 | ||
| North Carolina | 1,001 | 4 | 995 | 4 | ||
| Other | 6,418 | 23 | 6,203 | 24 | ||
| Total home equity loans | $26,150 | 100% | $25,983 | 100% | ||
| Lien type | ||||||
| 1st lien | 52% | 58% | ||||
| 2nd lien | 48 | 42 | ||||
| Total | 100% | 100% | ||||
| December 31, 2023 · December 31, 2022 | ||||||
| Weighted-average loan origination statistics (b) | ||||||
| Loan origination FICO score | 772 | 774 | ||||
| LTV of loan originations | 64% | 67% | ||||
(b)Weighted-averages calculated for the twelve months ended December 31, 2023 and 2022, respectively.
Automobile
Auto loans comprised $13.8 billion in the indirect auto portfolio and $1.1 billion in the direct auto portfolio as of December 31, 2023. Comparable amounts as of December 31, 2022 were $13.7 billion and $1.1 billion, respectively. The indirect auto portfolio consists of loans originated primarily through independent franchised dealers, including dealers located in our new expansion markets. This business is strategically aligned with our core retail banking business.
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