PNC FINANCIAL SERVICES GROUP INC
For the period ended Mar 31, 2024. Filed May 2, 2024.
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Mar 31, 2024 · Filed May 2, 2024
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Accruing Loans Past Due
The following table presents a summary of accruing loans past due by delinquency status:
Table 23: Accruing Loans Past Due (a)
| Amount · % of Total Loans Outstanding | ||||||
|---|---|---|---|---|---|---|
| March 31, 2024 · December 31, 2023 · Change · March 31, 2024 · December 31, 2023 | ||||||
| Dollars in millions · $ · % | ||||||
| Early stage loan delinquencies | ||||||
| Accruing loans past due 30 to 59 days | $636 | $685 | $(49) | (7)% | 0.20% | 0.21% |
| Accruing loans past due 60 to 89 days | 235 | 270 | (35) | (13)% | 0.07% | 0.08% |
| Total early stage loan delinquencies | 871 | 955 | (84) | (9)% | 0.27% | 0.30% |
| Late stage loan delinquencies | ||||||
| Accruing loans past due 90 days or more | 404 | 429 | (25) | (6)% | 0.13% | 0.13% |
| Total accruing loans past due | $1,275 | $1,384 | $(109) | (8)% | 0.40% | 0.43% |
(a)Past due loan amounts include government insured or guaranteed loans of $0.4 billion at both March 31, 2024 and December 31, 2023.
Accruing loans past due 90 days or more continue to accrue interest because they are (i) well secured by collateral and are in the process of collection, (ii) managed in homogeneous portfolios with specified charge-off timeframes adhering to regulatory guidelines, or (iii) certain government insured or guaranteed loans. As such, they are excluded from nonperforming loans.
Loan Modifications
We provide relief to our customers experiencing financial hardships through a variety of solutions. Commercial loan and lease modifications are based on each individual borrower’s situation, while consumer loan modifications are evaluated under our hardship relief programs.
See Note 3 Loans and Related Allowance for Credit Losses for additional information on loan modifications to borrowers experiencing financial difficulty.
Our determination of the ACL is based on historical loss and performance experience, current economic conditions, the reasonable and supportable forecasts of future economic conditions and other relevant factors, including current borrower and/or transaction characteristics and assessments of the remaining estimated contractual term as of the balance sheet date. We maintain the ACL at an appropriate level for expected losses on our existing investment securities, loans, equipment finance leases, other financial assets and unfunded lending related commitments.
See Note 1 Accounting Policies and the Credit Risk Management section in our 2023 Form 10-K for additional discussion of our ACL, including details of our methodologies. See also the Critical Accounting Estimates and Judgments section of this Report for further discussion of the assumptions used in the determination of the ACL as of March 31, 2024.
The PNC Financial Services Group, Inc. –Form 10-Q 25
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